Stocks to watch today

MUMBAI: Equities Tuesday are seen in a consolidation mode. Global cues are lacking with Asian indices opening mixed today with US markets shut Monday for Labour Day. FIIs bought Rs 418.07 crore of stocks Monday while, domestic funds sold Rs 16.52 crore.

Britannia Industries Chairman Nusli Wadia and his counterpart at Groupe Danone, Franck Riboud, met Monday to work out a separation plan. While there is no clarity on the Wadias' offer price for Danone's stake in Britannia, reports suggest there are in-principle agreements on dissolution of the Wadia-BSN agreement. This could have a positive sentiment for Britannia shares.

State Bank of India’s plan for a follow-on public offer has hit a rough patch with the finance ministry insisting the bank first merge its subsidiaries. The government wants to extract maximum value from the dilution of its stake. This could lead to some downside in the bank's shares.

Reliance Industries is likely to see an upside on reports that the company has showed interest in acquiring 50 per cent stake in Kenya Petroleum Refinery. The move will allow Reliance to source petroleum products to supply to the European and American markets where no new refineries are coming up.

Essar Shipping and Logistics is expected to move higher on news that the company is in the race to acquire Maritime Bulgare. The Bulgarian company is valued at Rs 70 crore.

Subex Azure will witness an upside as the company has won two major tier-I contracts in North America. The new deals include the Moneta Revenue Assurance contract with a Tier-1 telecom operator and an installation of a service fulfillment solution for another Tier-1 telecom operator for a national rollout of virtual private network services.

Lanco Infratech is seen up on plans to build on its integrated infrastructure company targeting more power projects, roads, ports, airports and special economic zones. The order book of the company is in excess of Rs 7,500 crore, thus ensuring significant cash flows and margins.