Stocks to watch: IL&FS Investment Managers, Mahindra Satyam, India Steel, TVS Motors, MMTC

IL&FS Investment Managers is close to exiting at least six of its investments, mainly in the real estate sector by the end of the current fiscal. The private equity firm, with over $2.8 billion of assets under management, will raise around Rs 1,500-2,000 crore through the exits, which are mainly due to the maturing of the investment horizon.

The New York Supreme Court has ruled in favour of Mahindra Satyam in the dispute between the company and Upaid Systems over the settlement amount paid by the Indian company. Last year, the two firms had settled a long-pending dispute for $70 million. However, after the settlement was reached, a fresh dispute broke out over whether the settlement amount was net of taxes or not.

India Steel Works, formerly Isibars, has sold 10% equity stake to Dubai-based ANC Holdings in an all-cash deal worth Rs 19 crore. ANC Holdings also plans to expand its shareholding in the Mumbai-based steel company within a year, to improve its prospects.
TVS Motor Company plans to spend as much as Rs 150 crore for capacity expansion and develop new products.

The government is likely to dilute its stake in trading firm MMTC through a follow-on offer in the current fiscal. The company will split its stock and announce a bonus share before the public offer.