Stocks to watch: GlaxoSmithKline, Tata Power, Aditya Birla Nuvo, Elder Pharma

MUMBAI: Crude oil prices pulled back in Asian trade Friday as investors awaited US report on unemployment. New York's main contract, light sweet crude for September, was down to $71.68 per barrel. Brent North Sea crude for delivery in September tumbled to $74.54 per barrel.

The Indian rupee was lower at 47.85 against the dollar from its previous close of 47.68 on fears of capital outflows.
The primary market will be abuzz with action as the NHPC IPO kicks off Friday. NHPC will make its first public offering in the price band of Rs 30-36 a share with the aim of raising up to Rs 6,048 crore at the top end of the price band.

With swine flu cases on the rise, GlaxoSmithKline, the manufacturer of Relenza, is increasing its manufacturing capacity for the drug, while Indian players are also seeing increased interest from customers for generic versions of Relenza (Zanamivir). Shares of healthcare companies manufacturing Tamiflu and generic versions are expected to remain in the limelight on expectations of increased sales.

Bhushan Power and Steel plans to invest Rs 3,000 crore to add 250 mw capacity to its existing power plant and to increase production of value-added steel at its Orissa facility over the next one year. Shares of the company are likely to see an upside on the news.

Shares of textile companies are expected to attract buying activity after textile minister Dayanidhi Maran said that the government will give Rs 2,546 crore financial help to domestic firms for upgrading their manufacturing units.

Aditya Birla Nuvo plans to deploy the surplus cash generated by its older-businesses such as carbon black, fertilisers, insulators, rayon and textiles in the growing new-generation businesses ��� financial services, telecom, BPO and IT. Shares of the company may gain momentum on the development.

Mumbai-based Elder Pharmaceuticals is in talks with a clutch of private equity (PE) firms to raise Rs 125-150 crore for drug research, a manufacturing unit in Uttarakhand and retiring part of Rs 410-crore debt. The company will dilute about 14% stake through issue of new shares.

Tata Power has Rs 29,300 crore capex plans for the next three years. Of this, Rs 9,800 crore would come from internal accruals and the company would raise about Rs 18,000 crore debt.