Stocks to Watch: PVR, Inox, Airtel, Emami, DLF, HDFC Bank, Gail India, PSUs

PVR and INOX Leisure are likely to be in focus after the two mega multiplex owners announced an all-stock merger on Sunday.

The key benchmark indices are likely to start trade with marginal gains as indicated by the SGX Nifty. As of 07:00 AM, the SGX Nifty March futures quoted at 17,225, indicating a gain of 50-odd points on the NSE Nifty 50 benchmark at the opening bell. Meanwhile, here are the stocks to focus in trade on Monday.

Airlines: Stocks related to aviation companies are likely to be in focus as the Indian skies opened up for scheduled international flights on Sunday, after a gap of two years, bringing more travel options for passengers and better revenue opportunities for airlines struggling with high fuel prices. READ MORE

PSU shares: In a bid to push monetisation of non-core assets, the Centre has identified about 5,400 acres of land parcels of public sector undertakings (PSUs) such as BEML, Shipping Corporation of India (SCI), Bharat Sanchar Nigam (BSNL) and MTNL, among others. READ MORE

PVR, INOX Leisure: The board of directors of PVR Limited (PVR) and INOX Leisure Limited (INOX) on Sunday approved an all-stock amalgamation of INOX with PVR at their respective meetings. 

Ajay Bijli will be appointed as the managing director and Sanjeev Kumar would be appointed as the executive director. Siddharth Jain will be appointed as non-executive, non-independent director in the combined entity.

The management of both the companies expect the merger to go through in the next six to nine months. Inox shareholders will receive three shares in PVR for 10 shares of Inox, PVR said in a stock exchange filing. READ MORE

Gail India: The company has scheduled its board meeting on March 31, 2022, to consider a proposal for buy-back of equity shares.

DLF: The realty major plans to invest around Rs 2,000 crore to construct two new shopping malls in Gurugram and Goa, as it sees huge growth potential in organised retail with opening up of the economy after significant reduction in COVID-19 cases. READ MORE

ICICI Lombard: The private insurer has joined the race along 53 others including Tata AIG, Nippon Life and foreign financial companies for acquiring the profit-making insurance arms of Reliance Capital, which was last year put under administration due to defaults and governance issues. Bidding parties can either bid to buy the entire company or any one or more of its eight clusters.

Tata Consumer Products: The FMCG player says will continue to look at acquisitions to become a large player in the packaged foods business.  The company recently acquired Kottaram Agro Foods, which houses the brand Soulfull, and Tata SmartFoodz, which have food products in the premium food space. READ MORE

Bharti Airtel: The private telecom major will acquire a 4.7 per cent stake in Indus Towers from Vodafone Group for about Rs 2,388 crore, according to a company filing.  The transaction will be executed at a price of Rs 187.88 per share. 

Further, the company has prepaid Rs 8,815 crore of spectrum dues to reduce interest expenses. This is the second such prepayment by Airtel in the last three months and comes on the back of strong cash flow generation, equity infusion and borrowing at significantly lower interest rates. READ MORE

HDFC Bank: India’s one of largest private banker plans to raise up to Rs 5,000 crore through additional tier I bonds for capital adequacy and business growth. Care Ratings has given “AA+” rating to the lender’s Basel III compliant tier- I bonds.

SpiceJet, GMR group: Both the companies are partnering with Boeing and French companies respectively to explore opportunities for development and use of sustainable aviation fuel (SAF). The initiatives are in the backdrop of aviation industry's call to reduce carbon emissions. READ MORE

Emami: The company has Reckitt’s Dermicool prickly heat talc brand for a consideration of Rs 432 crore. The deal will be funded through internal accruals, and is the biggest by Emami after 'Kesh King' hair and scalp products (2015), and Zandu Pharma (2008). READ MORE

Vedanta: The Anil Agarwal led mining major plans to invest $1.5 billion across its oil and gas, zinc and steel businesses. In its board meeting on Friday the company approved $687 million capital spending for drilling of new wells at the firm's oil and gas unit, Cairn Oil & Gas, Vedanta said in a stock exchange filing.

Adani Total Gas: The company - a joint venture of Adani group and TotalEnergies SE, has forayed into electric mobility infrastructure sector by launching its first EV charging station in Ahmedabad. READ MORE

Ruchi Soya: Monday is the last day to subscribe for the follow-on public offer. The company is issuing shares in the price band of Rs 615-650, and the issue was so far subscribed 37 per cent.

Manappuram Finance: The company’s board in its meeting on Sunday approved a proposal to raise up to Rs 7,800 crore by way of issue of non-convertible debentures on private placement and/ or public issue from time to time.

Aster DM Healthcare: The company has signed a non-binding MoU with government of Tamil Nadu to invest up to Rs 500 crore for setting-up of hospitals, pharmacies and laboratories in the state.

Stocks in F&O ban: Indiabulls Housing Finance, L&T Finance Holdings, SAIL, Sun TV and Vodafone Idea are the stocks in the F&O ban period on Monday.