Stocks to watch: Maruti, ACC, Bharti Shipyard, Mahindra&Mahindra

Maruti Suzuki plans to increase its production capacity by up to 75 per cent over the next five years in a bid to hold on to its 50 per cent market share in the country’s lucrative passenger car market. Maruti will have a capacity to build one million cars by the end of this fiscal year when its second plant in Manesar is ready.

Rourkela-based Shiva Cement is raising nearly Rs 80 crore through bank loans to part finance its Rs 165-crore expansion plan which aims at nearly quadrupling capacity to 2.3 million tonne. ACC holds 14 per cent stake in the company.

Bharati Shipyard has decided to revise the open offer price to equity shareholders of Great Offshore to Rs 590 per share.

Credit rating agency, ICRA has reaffirmed the long-term rating of LAA+ assigned earlier to the Rs. 6,000 million Non Convertible Debenture (NCD) Programmes and Rs 2,720 million Fund Based Bank Facilities of Mahindra & Mahindra (M&M).

The outlook on the rating has been revised to stable from negative. ICRA has also reaffirmed the short-term rating of A1+ to the Rs 1,280 million Non-Fund Based Bank Facilities of the company.