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Last Updated : Sep 29, 2016 09:16 AM IST | Source: CNBC-TV18

Stocks to keep an eye on

Some of the stocks that should be on your radar are: ICICI Prudential Life Insurance Company, ICICI Bank, Multi Commodity Exchange of India, Kotak Mahindra Bank, Hindustan Copper, Strides Shasun, Housing Development Finance Corporation, Tata Motors.


Crude Surges: Oil futures extended gains on Thursday after rising nearly 6 percent the day before on a surprise move by OPEC to curb crude output.

The Organization of the Petroleum Exporting Countries agreed to limit its production to a range of 32.5-33.0 million barrels per day (bpd) in talks held on the sidelines of an energy conference in Algeria.


But how much each country will produce is to be decided at the next formal OPEC meeting in November, when an invitation to join cuts could also be extended to non-OPEC countries such as Russia.

ICICI Prudential Life: ICICI Prudential Life raised Rs 6,057 crore at Rs 334/share. market Capital at Rs 334/share at Rs 47,940 crore. Valuations: FY16 Price to Embedded Value at Rs 334/share is 3.4 times. ICICI Bank now holds 55.2 percent in company.

MCX: SEBI permits option trading in commodities. Option trading will mean increased volumes for commodity exchanges. Sebi allows option trading and need to watch the timeline for implementation. Trading volumes need to be tracked.

Kotak Mahindra Bank: Dutch financial services company ING Group is selling a USD 300 million stake in Indian lender Kotak Mahindra Bank Ltd in a block trade on Thursday, according to a deal term sheet seen by Reuters.


The deal has an upsize option of up to USD550 million, according to the term sheet, an informal paper with the deal terms for market participants. The contents of the term sheet were separately confirmed by a source with direct knowledge.

Close

An ING spokeswoman confirmed the company was selling part of its stake in Kotak Mahindra. "We will disclose further details at closing," the spokeswoman said.


ING is selling the shares in a price range of 774.50 rupees to 782.30 rupees apiece. Ahead of the news, Kotak Mahindra shares closed at 782.30 rupees in Mumbai trading on Wednesday.

Hindustan Copper: Government will from today offload 7 percent of its stake in Hindustan Copper, through which it aims to raise about Rs 400 crore.


The President of India (acting through and represented by the Mines Ministry), promoter of Hindustan Copper, submitted a copy of notice of offer for sale of up to 6,47,65,260 equity shares of the company, the firm said in a regulatory filing.


Government holds 89.95 percent stake in Hindustan Copper.


The firm has invited non-retail investors for the share sale on September 29, 2016. On September 30, retail investors can participate in the share sale, it added.


The shares represent 7 percent of the total paid up equity share capital of Hindustan Copper, it said.

Strides Shasun: Sources say Chennai facility inspected by US FDA in August 2016. US FDA inspection lasted for around 3-4 days. Observations issues were routine and minor in nature.

Other stocks in focus are HDFC and Tata Motors.



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First Published on Sep 29, 2016 09:13 am
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