Day's Digest - Five stocks to watch out on February 19
DSIJ Intelligence / 19 Feb 2016
The five stocks that may witness some kind of significant movement on Feb 19 in the markets are: Suven Life Sciences (Suven); Larsen & Toubro; Jet Airways, Fortis Healthcare, Shriram EPC
The five stocks that may witness some kind of significant movement on Feb 19 in the markets are: Suven Life Sciences (Suven); Larsen & Toubro; Jet Airways, Fortis Healthcare, Shriram EPC.
a) Suven Life Sciences: Suven has grabbed the grant of one product patent from Australia and one product patent from Canada corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these patents are valid through 2032 and 2031 respectively.
b) Larsen & Toubro: The construction arm of Larsen & Toubro (L&T) won orders of Rs 1404 crore for various verticals. Out of total order, company bagged order of Rs 1014 crore for power transmission and distribution business. It has received order for electrification updation work in the Middle East. L&T’s Heavy Civil Infrastructure business got additional order of Rs 390 crore from an ongoing metro in the international market.
c) Jet Airways: The UAE based Etihad Airways may increase its stake in Jet Airways from 24 per cent to 49 per cent. Earlier, Etihad Airways had acquired 24 per cent stake in Jet Airways for USD 349 million in 2013. The country's foreign direct investment policy for the aviation sector allows foreign carriers to have upto 49 per cent stake through automatic route.
d) Fortis Healthcare: Fortis Healthcare will remain in focus today. Private equity funds like Baring Asia, Capital International and Bain Capital are in discussion to buy a controlling stake in SRL Diagnostics, a subsidiary of Fortis Healthcare.
e) Shriram EPC: Shriram EPC has bagged contracts of Rs 430 crore. Out of the total order, it has received a road contract of Rs 301.05 crore from the state of Chhattisgarh for executing road works of 50 km under the NHDP-IV on Engineering, Procurement and Construction basis (EPC) to be completed over a period of 24 months. It also got Rs 137 crore from total order for the purpose of Drinking Water & Sanitation Department of the government of Jharkhand.
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