Stocks to watch: MMTC, STC, CG Power, TCS, NBCC, Coffee Day, oil-linked cos

At 08:27 am, Nifty futures on the Singapore Exchange (SGX) were trading 15.50 points or 0.14 per cent lower at 10,989.50 levels, indicating a tepid start for the Indian market on Tuesday. 

Here's a look at the top stocks that may remain in focus today - 

CG Power: Private equity giant KKR India on Monday picked up nearly 10 per cent stake in CG Power and Industrial Solutions for over Rs 89 crore by enforcing pledge on credit facilities extended to a promoter firm of the crisis-hit company. 

Coffee Day Enterprises: The Blackstone Group has signed a definitive agreement to buy Coffee Day's tech park for Rs 2,700 crore, said a report by The Economic Times.   

Oil-linked stocks: Oil marketing companies (OMCs), aviation, paint, tyre and oil exploration companies are likely to hog the limelight today as crude oil prices remain elevated as the drone attack over the weekend has cut the kingdom’s oil production in half. 

IT stocks: IT companies are expected to hog the limelight given sharp depreciation in the rupee following surge in crude oil prices. On Monday, the currency plunged 68 paise to 71.60 against the US dollar.  

MMTC, STC: According to a report by The Economic Times, the government may shut three state-owned trading firms — Metals & Minerals Trading Corporation of India (MMTC), State Trading Corporation (STC) and Project & Equipment Corporation of India (PEC). 

BHEL, Coal India: According to a news report by Business Standard, BHEL, BSNL, and Coal India have moved to impose a penalty recoverable from staff salary in proportion to non-achievement of targets. 

TCS: The IT services major and General Motors (GM) on Monday announced a new partnership in future global vehicle engineering.

ADAG stocks: Anil Ambani-led Reliance Group has put its wealth management unit up for sale as it looks to raise funds to repay debt and InCred Finance, a non-banking finance company (NBFC) backed by former Deutsche Bank global co-CEO Anshu Jain is in race to acquire it, according to a report by The Economic Times. In another development, Global Cloud Xchange (GCX), a subsidiary of Reliance Communications (RCom), has filed bankruptcy protection voluntarily in a US court. 

JSW Steel: The National Company Law Appellate Tribunal (NCLAT) will hear three probe agencies, including ED and SFIO, regarding JSW Steel's plea seeking immunity from prosecution after buyout of Bhushan Power and Steel, which is facing money laundering allegations.

NBCC: has signed an MoU with Utkal University, Bhubaneswar, Odisha for construction of various infrastructure buildings in existing campus of the University at Bhubneswar and new campus at Chandikhol, Odisha. The approximate cost of work would be Rs 390 crore.  

Jet Airways: South America-based Synergy Group, which has emerged the sole suitor for defunct Jet Airways, is said to have met the lenders of the airline on Monday to discuss its revival plans. READ MORE

Kaveri Seed said in the fling aftermarket hours on Monday that the board will consider a proposal for buyback of fully paid-up equity shares of the company on September 24, 2019.

LVB, Indiabulls Housing Finance: The RBI has intensified its scrutiny on the managements of Lakshmi Vilas Bank(LVB) and Indiabulls Housing Finance (IHF), following fresh accusations of wrongdoing and the sudden exit of the bank’s CEO, The Economic Times reported. 

Glenmark on Tuesday announced that the US Food and Drug Administration (FDA) has granted Orphan Drug Designation to its bispecific antibody candidate GBR 1342 for the treatment of patients with multiple myeloma who have received prior therapies.

Piramal Enterprises: has raised Rs 690 crore from Credit Suisse through the sale of non-convertible debentures (NCDs). The debt raised from Credit Suisse will mature in September 2020.

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