Stocks to watch: M&M, DHFL, Coffee Day, ICRA, Spandana Sphoorty, Amtek Auto

Here's a look at some of the counters that are likely to trade actively in today's trading session. SI Reporter  |  New Delhi  Last U

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Here’s a look at some of the counters that are likely to trade actively in today’s trading session.

SI Reporter  |  New Delhi 

At 08:38 AM, Nifty futures on the Singapore Exchange (SGX) were trading 6.50 points or 0.06 per cent higher at 11,060.50, indicating a flat start for the Indian market on Monday.

Here’s a look at some of the counters that are likely to trade actively in today’s trading session –

M&M: Auto major Mahindra & Mahindra has made a case for a fiscal stimulus package from the government for the automobile sector to tide over an unprecedented slump in sales and arrest job losses.

The company added it has deferred a portion of its new investments to cope slowdown.

DHFL: The consortium of banks led by Union Bank of India, which is working on the feasibility of the resolution plan submitted by cash-strapped housing financier Dewan Housing Finance Corporation (DHFL), is toying with the idea of taking a majority stake in the firm, said a Business Standard report. READ MORE

Sun Pharma: Drug major Sun Pharmaceutical Industries on Friday said one of its arms has granted an exclusive licence to a subsidiary of China Medical System Holdings Ltd (CMS) to develop and commercialise seven generic products in Mainland China. Spandana Sphoorty Financial: Shares of micro-finance player Spandana Sphoorty are set to debut on the exchanges today.

Tech Mahindra: The company on Sunday announced the divestment of 73.38 per cent stake in its subsidiary FixStream Networks Inc to US-based Resolve Systems LLC for USD 2 million (approx Rs 14.22 crore).

ICRA: The Securities and Exchange Board of India (Sebi) has rejected the company’s consent application in the Infrastructure Leasing and Financial Services Ltd (IL&FS) case, The Economic Times reported citing sources. Ujjivan: The company files DRHP with Sebi as regards IPO of Small Finance Bank.

Coffee Day: Coffee Day Enterprises (CDEL) has appealed to its lenders and creditors to give it sufficient time to honour its repayment obligations. That apart, reports suggest the promoters of the company are planning to restart talks with Coca-Cola for selling a part of their stake in the company to pare debt.

Amtek Auto: The National Company Law Appellate Tribunal (NCLAT) on Friday asked the Chandigarh Bench of the NCLT to proceed with the liquidation of Amtek Auto in accordance with law, saying there remained no approved resolution plan for the company despite the passage of the statutory period of 270 days. READ MORE

Info Edge: Info Edge India has entered into an agreement to invest, through its wholly-owned subsidiary, about Rs 47 Crore in Shop Kirana E Trading, reports said.

Simplex Infra: CARE Ratings have downgraded long-term short loan facilities worth Rs 1,195 crore to ‘BBB’ from ‘A-’, with outlook remaining Negative.

Sundaram-Clayton: As per reports, TVS Group company Sundaram Clayton said two days beginning Friday have been declared as non-working days for its factory in Padi, near Chennai, in view of the prevailing business slowdown in the automotive industry.

First Published: Mon, August 19 2019. 08:40 IST