Stocks to watch: Pipavav Shipyard, Punj Lloyd, Suzlon Energy, Nihar Info, Dr Reddys, DQ Entertainment

MUMBAI: Pipavav Shipyard promoter SKIL Infrastructure plans to raise up to $300 million by selling shares to private equity funds just before an IPO due in six months to retire short-term loans it took to buy out co-promoter Punj Lloyd, people close to the transaction said. SKIL will buy Punj’s 19.5% stake in India’s first private shipyard on Monday morning in a block deal on the stock exchange.

Nihar Info Global has received work order from Andhra Pradesh Industrial Infrastructure Corporation Fateh maidan Road, Hyderabad towards maintenance of their website for one year period.

Mahindra & Mahindra is likely to freeze investments in its troubled joint venture with Renault, ceding a majority stake and management control to the French company. Future investments will be by Renault, resulting in a fall in M&M’s 51% stake over a period of time.

DQ Entertainment will be listing on the exchanges today. The company has fixed issue price of the IPO at Rs 80 which was subscribed over 86 times.

Dr Reddys Laboratories will hold board meeting on March 31 to consider a proposal for the issuance of bonus debentures by the Company to its shareholders.

REpower Systems has signed a contract to to deliver 15 wind turbines to Poland. Suzlon Energy has a majority stake of 90.71% in the company.