Stocks to Watch: GAIL, Sona BLW, ONGC, Natco Pharma, RIL, Airtel, Vodafone

Stocks to Watch: Blackstone Inc. is seeking to raise as much as Rs 3,180 crore ($400 million) through the sale of shares in Indian automotive component maker Sona Comstar

A quiet start is on the cards for the Sensex and Nifty indices. The markets will react to the FOMC meeting minutes, which said all members batted for a 75 bps hike in the next meeting as there were no signs of inflation subsiding.  

At 7:30 am, the SGX Nifty futures were quoting at 17,940, down around 40 points from Nifty futures’ previous close. 

That said, here are some stocks that will likely see some market action today: 

Sona BLW: Blackstone Inc. is seeking to raise as much as Rs 3,180 crore ($400 million) through the sale of shares in Indian automotive component maker Sona Comstar, according to terms of the deal seen by Bloomberg News. An affiliate of the US firm is offering the shares in Sona BLW Precision Forgings Ltd., as it is formally known, at Rs 500 each, the terms show. That’s a 7.2% discount to Wednesday’s closing price. Read more

Telecom shares: Reliance Jio added 4.2 million new mobile customers in June, consolidating its past month gains. In contrast, Airtel only added 0.79 million customers while Vodafone Idea continued its losing streak as it shed 1.8 million users, according to Trai data for the month. Read here

Oil and Natural Gas Corporation: ONGC has signed a Heads of Agreement (HoA) with global petroleum giant ExxonMobil for deepwater exploration on the East and West coasts of India. The collaboration areas focus on the Krishna Godavari and Cauvery Basins in the eastern offshore and the Kutch-Mumbai region in the western offshore.

Natco Pharma: The company has received a tentative approval for its abbreviated new drug application (ANDA) for Trabectedin for the 1mg/vial. Trabectedin is a generic drug for Yondelis.

GAIL (India): The company received the board approval for additional fundraising of $3.125 billion via external commercial borrowing and up to Rs 25,000 crore via non-convertible debentures. This is on top of Rs 25,000 crore already borrowed by the company.
 

RBL Bank: The bank has further sold 22,00,000 equity shares, representing 6.4 per cent of the paid-up share capital of Kilburn Engineering Ltd.

Indo Amines: The company has received an environmental clearance for the expansion of 'synthetic organic chemical' production at its manufacturing plants in Thane and Dhule, Maharashtra.

Infibeam Avenues: The company's board of directors will consider fundraising on August 25.

Craftsman Automation: The company has commenced the commercial operations of its new plant at Pune, Maharashtra.

Nuvovo Vistas: The company has approved the issuance of Non-Convertible Debentures of up to Rs. 350 crores on private placement basis, in one or more tranches.

Campus Activewear : The National Company Law Tribunal has approved the scheme of arrangement between Campus AI Private and the company. 

Thomas Cook: In order to accelerate demand for India’s upcoming festive season, the company with SOTC Travel has introduced a range of holidays and special offers.

IRB Infra : India Ratings and Research (Ind-Ra) has upgraded IRB Infrastructure Developers' rating to ‘IND AA-’ from ‘IND A+’ with a stable outlook. 

Stocks under F&O ban: Balrampur Chini Mills, Delta Corp and Tata Chemicals.