stock to watch on monday
Shares of Reliance Petroleum are likely to see some positive impact on reports that Reliance Industries has sold 4.01 per cent of its stake, or 180.4 million shares, in Reliance Petroleum Rs 4,023 crore.
After the stake sale, RIL's holding in RPL has fallen to 70.99 per cent from 75 per cent.
Reliance Communications plans to sell another 5 per cent stake in its wireless business in the second transaction. The deal is likely to be bigger than the previous one, which fetched $6.75 billion for the tower business. The share is likely to move up.
The fight among the three promoters, who control Mirc Electronics , the owners of the Onida brand, has taken a curious twist. Sonu Mirchandani, who has a 33% stake in the company, has now offered to buy out his elder brother Gulu's share. Shares of the company are likely to act on this development.
Shares of India Infoline are likely to spurt up on reports that foreign investors Goldman Sachs and Blackstone are in final stages of negotiations to buy a 26 per cent stake in India Infoline Distribution Company, a distribution subsidiary of the brokerage.
Nitco Tiles shares are likely to move up on reports that leading foreign investors Lehman Brothers, Citigroup, Merrill Lynch, Deutsche Bank and Reliance Capital have picked up 15 per cent stake in the company for around Rs 170 crore.
Shares of Dr Reddy's Laboratories and Lupin are likely to see move up on reports in DNA Money that these companies along with Shreya Lifesciences are in the race for LaborMed, which has over 80 products.
Balaji Telefilms plans to offload 10-15 per cent stake in its wholly owned subsidiary Balaji Motion Pictures, reports Business Standard. The share is likely to move up on this.