Stocks to watch: M&M, NMDC, Sanghi Industries, Fortis Healthcare, Sun Pharma, Phillips Carbon

Mahindra & Mahindra is in talks with Delhi-based Sonalika Group for a strategic stake in the latter’s SUV arm that makes the Rhino range of vehicles.

The Life Insurance Corporation may end up underwriting NMDC’s follow-on public offering, unless foreign institutional investors turn up in hordes on the last day of the issue on Friday, like they did in the Rural Electrification Corp FPO.

Gujarat-based Sanghi Industries, part of the Rs 4,500-crore Sanghi Group, plans to raise about Rs 660 crore in debt for part-financing an expansion programme that will almost triple its current cement-making capacity.

Mahindra Satyam has signed four year offshore contract worth $48 million with KMD, one of the Denmark's largest IT companies.

Fortis Healthcare has added another feather in its cap by acquiring a 24% stake in Parkway Holdings, one of the leading healthcare companies in Asia. With this acquisition, Fortis, which has till now been on an acquisition-spree in India, is setting its global footprint.

Caraco Pharmaceutical Laboratories, a subsidiary of Sun Pharma, has launched a generic version of Sanofi-Aventis' cancer treatment Eloxatin after getting the FDA approval. Teva Pharmaceutical Industries Ltd. also sells a generic version of the drug, which is aimed at colon and rectal cancer.

Phillips Carbon board has approved raising upto Rs 200 crore via QIP issue.