Day's Digest - Five stocks to watch out on February 17

The five stocks that may witness some kind of significant movement on Feb 17 in the markets are: Glenmark Pharmaceuticals; Adani Ports and Special Economic Zone (APSEZ); Just Dial; BPCL; and Cipla.

a) Glenmark Pharmaceuticals: Glenmark Pharmaceuticals received tentative approval from the United States Food & Drug Administration (US FDA) for its Azelaic Acid Gel, 15 per cent, the generic version of Finacea Topical Gel, 15 per cent which is produced by Bayer Healthcare. According to IMS Health sales data, Finacea market achieved annual sales of approximately USD 12.8 crore (Rs 879 crore). Its current portfolio consists of 106 products authorized for distribution in the US marketplace and 62 ANDA’s pending approval with the US FDA.

b) Adani Ports and Special Economic Zone: Adani Ports and Special Economic Zone (APSEZ) has raised Rs 750 crore on February 17. It raised money through allotment of 7500 rated, listed, taxable, secured, redeemable, non-convertible debentures (NCDs) of the face value of Rs 10 lakh each on private placement basis. APSEZ’s NCDs will be listed on wholesale debt market segment of BSE.

c) Just Dial: Just Dial’s buy-back offer of 10.61 lakh equity shares would open for subscription on February 25, and close on March 10. The company received final observations from securities market regulator SEBI's letter dated February 11. It will dispatch the Letter of Offer for the buyback to eligible shareholders on or before February 18.

d) BPCL : Bharat Petroleum Corporation’s (BPCL) Kochi refinery has received environmental clearance for its heat traced pipeline project. The clearance proposal is part of company’s Rs 20000 crore integrated refinery expansion and upgradation project. The proposed project at Kochi would put in place heat traced pipeline for transfer of high pour intermediates like high and low sulphur vacuum residues and Vacuum Gas Oil (VGO). The refinery will add more value to the BPCL entity.

e) Cipla:  Cipla got a nod from government for an investment by Mauritius-based FIL Capital Investments in its subsidiary, Cipla Health. Earlier, Foreign Investment Promotion Board (FIPB) approved the proposed investment by FIL Capital Investments II (Mauritius) in Cipla Health. The government approved 10 foreign investment proposals involving an inflow of Rs 607 crore, including Cipla's proposal on February, 16.