Videocon Industries stocks will be in focus as the company informed BSE on Tuesday that it has launched issue of Foreign Currency Convertible Bonds convertible into ordinary equity shares, in exchange of a part of outstanding amount of existing $200,000,000 6.75 per cent.
The BSE Sensex and NSE Nifty are likely to be open in positive terrain following strong global cues. Sensex closed 149.57 points up at 25,760.10 on Monday, while Nifty settled 44.35 points up at 7,806.60.
Below are the stocks that are likely to be in focus
Videocon Industries: The company informed BSE on Tuesday that it has launched issue of Foreign Currency Convertible Bonds convertible into ordinary equity shares, in exchange of a part of outstanding amount of existing $200,000,000 6.75 per cent. Convertible Bonds due 2015, subject to the acceptance of the exchange offer by the requisite majority of the bond holders and subject to other statutory approvals.
Reliance Infra: Reliance Infrastructure has signed a non-binding term sheet with the Public Sector Pension Investment Board (PSP Investments) for the sale of 49% equity stake in the company’s integrated power generation, transmission and distribution business in Mumbai and adjoining areas.
ICICI Bank: The bank’s board on Monday approved sale of 6% stake in its life insurance arm ICICI Prudential Life to two investors, including Premji Invest, for about Rs 1,950 crore.
SH Kelkar: Shares of fragrance maker SH Kelkar and Co will remain in focus on Tuesday as well as the company on Monday made a remarkable debut at the bourses, ending with more than 15% gains over the issue price of Rs 180 per share.
DLF: The real estate firm on Monday said it has got fair trade regulator CCI’s approval for the joint venture with Singapore’s sovereign wealth fund GIC, which is investing Rs 1,990 crore in two projects. The realty firm would use this fund to boost cash flow and reduce debt, which stood at Rs 22,520 crore as on September 30.
Nestle India: Food Safety and Standards Authority of India (FSSAI) on Monday moved the Supreme Court challenging the Bombay High Court’s order that set aside the countrywide ban on Nestle’s popular Maggi noodles.
Ajanta Pharma: The company on Monday said it has launched generic version of Singulair granules, used in the treatment of asthma, in the US market.
Maruti Suzuki: Haryana Industries Minister Captain Abhimanyu on Monday met Maruti Suzuki MD & CEO Kenichi Ayukawa and suggested that the company set up a skill development centre and driving school in the state.
Reliance Industries: Fitch Ratings has affirmed Reliance Industries’ long term foreign currency and domestic currency issuer default rating at ‘BBB-‘ and ‘BBB’, respectively with stable outlook.
Coal India: The state-run firm has imported about five lakh tonnes of coal so far in the current fiscal for the power producers as their response has not been encouraging.
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