Stocks to watch: Asian Hotels, M&M, Hindalco, Wockhardt, Sterlite Industries
Indian equities may continue to extend losses Monday given the weak international markets.
By ET Bureau |
MUMBAI: Indian equities may continue to extend losses Monday given the weak international markets.
US-based hospitality major Choice Hotels International has acquired the entire 60 percent stake of its franchise partners Sandeep Gupta and Sushil Gupta of Asian Hotels, for an undisclosed sum. After the buyout, Choice Hospitality India will be operated as wholly owned subsidiary of the group, a company statement said. Shares of Asian Hotels may see an upside on the news.
The Khorakiwala family, promoters of Wockhardt, has sold nearly 18 acre of land at Mulund for Rs 200 crore toa city-based developer, Runwal Group, and a real estate fund. Shares of the troubled pharma company may see some positive action.
Pharmaceutical company Jubilant Organosys is demerging its non-core business — agri and performance polymer — into a separate subsidiary to focus on its pharma business. The Delhi-based company, which reported a turnaround with a net profit for the quarter ended December 31, is also raising up to Rs 1,500 crore to repay part of its debt and make capital investment.
A host of corporates are set to unveil their earnings for the third quarter, which will keep their shares in focus. Among others, Mahindra & Mahindra, Power Grid Corp, Sterlite Industries, Pantaloon Retail, Indiabulls Financial, Godrej Industries and Hindalco Industries will declare results.
US-based hospitality major Choice Hotels International has acquired the entire 60 percent stake of its franchise partners Sandeep Gupta and Sushil Gupta of Asian Hotels, for an undisclosed sum. After the buyout, Choice Hospitality India will be operated as wholly owned subsidiary of the group, a company statement said. Shares of Asian Hotels may see an upside on the news.
The Khorakiwala family, promoters of Wockhardt, has sold nearly 18 acre of land at Mulund for Rs 200 crore toa city-based developer, Runwal Group, and a real estate fund. Shares of the troubled pharma company may see some positive action.
Pharmaceutical company Jubilant Organosys is demerging its non-core business — agri and performance polymer — into a separate subsidiary to focus on its pharma business. The Delhi-based company, which reported a turnaround with a net profit for the quarter ended December 31, is also raising up to Rs 1,500 crore to repay part of its debt and make capital investment.
A host of corporates are set to unveil their earnings for the third quarter, which will keep their shares in focus. Among others, Mahindra & Mahindra, Power Grid Corp, Sterlite Industries, Pantaloon Retail, Indiabulls Financial, Godrej Industries and Hindalco Industries will declare results.
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