Stocks to watch: Mercator Lines, Zylog Systems, Suzlon Energy, IOC, Colgate Palmolive

Mercator Lines is looking at adding four to five ships in the tanker segment over the next three months as prices of vessels have crashed up to 50% from their peak two years ago. The company will also expand its dry bulk fleet by adding three ships over the next one year, besides augmenting its drilling capabilities.

Zylog Systems has announced the acquisition of Brainhunter, a consulting and engineering services company in Canada for C$35 million (Rs 150 crore).

Suzlon Energy plans to sell its entire 26% stake in its Belgium-based gearbox technology unit, Hansen Transmissions International, as India’s largest wind turbine maker doesn’t see major benefits arising from retaining the shareholding in Hansen.

The government may take a decision on freeing petrol and diesel prices after the Kirit Parikh committee on rationalising fuel subsidies submits its report this week, oil minister Murli Deora said. Price of petrol may go up by Rs 4.70 a litre and diesel by Rs 2.30 a litre if the government gives the pricing freedom to state-owned oil marketing companies — IndianOil Corporation, Bharat Petroleum and Hindustan Petroleum.

Colgate Palmolive said Professional Oral Care Products Pvt Ltd has become a wholly owned subsidiary of the firm as it acquired the remaining 25 per cent stake for Rs 2.4 crore in the latter. The company already owns 75 per cent stake in Goa-based Professional Oral Care Products, which manufactures toothpaste, Colgate Palmolive (India).