Stocks to watch: IDFC, Kingfisher Airlines, Reliance Infra, Aegis Logistics, Raymond, SEL Manufacturing

Infrastructure finance company IDFC will sell convertible securities to Khazanah, the investment holding arm of the Malaysian government, and private equity fund Actis at Rs 176 a share. IDFC will raise Rs 840 crore through the allotment.

Kingfisher Airlines has agreed to pay all its dues to Hindustan Petroleum Corp (HPCL) by July 31, after the government directed the state-run firm to stop supply of jet fuel to the airline. The airline, owned by the UB Group, furnished a bank guarantee for Rs 300 crore against the dues, amounting to around Rs 484 crore.

Reliance Infrastructure, which supplies power to Mumbai suburbs, will buy electricity from three generation companies for the next three years. The company has accepted medium-term bids of Abhijeet Group, KSK-Wardha Power Company and Vidarbha Industries Power to power Mumbai suburbs for the next three years.

Aegis Logistics has recommended issue of bonus shares in the ratio of 2 fully paid up equity shares of Rs 10 each for every existing 3 fully paid up equity shares of Rs 10 each.

The Maharashtra government has told textile major Raymond that it may nationalize its Thane unit if the company refuses to increase compensation to workers losing their jobs.

SEL Manufacturing board ha approved fund raising by way of External Commercial Borrowings.