Stocks to watch: HDFC, Cipla, IOC, Eros, Rolta, Tata Chemicals

Money Control has posted by Stocks to watch: HDFC, Cipla, IOC, Eros, Rolta, Tata Chemicals Here are stocks that will be in news on Monday:

SEBI issues consultation paper on REITs
-SEBI allows real estate investment trust (REITs) to invest up to 20 percent in under construction assets
-To remove restrictions on SPV (special purpose vehicle) investing in other SPVs holding assets
-To allow change in the number of sponsors in REITs
-To align REITs minimum public holding requirement with SCRR (Securities Contract (Regulation) Rules)
-Issues consultation paper on amendments to portfolio managers norms
-Proposes to change obligations & responsibilities of fund managers
-Proposes to change minimum investment norms for existing portfolio managers
-Proposes to change method of audit of overseas fund
-To rationalise compliance w.r.t related party transactions in REITs

HDFC chairman Deepak Parekh says
-Boards of 3 companies have agreed to merger of Max Life, Max Financial Services into HDFC Life
-Macro environment in India is very conducive
-Favourable demographics provide a big opportunity for insurers
-Life insurance penetration significantly lower in India
-Expect new business premium to grow at 15 percent over the next 5 years
-Top 4 life insurance companies have 65 percent market share
-If pact materialises, HDFC Standard will become largest player in sector
-HDFC Life shareholders are keen to list the company
-HDFC Life & Max Life have strong margins & synergies
-Product mix of the combined entity will be well diversified
-Merger will lead to eventual listing as Max Financial already listed
-Eventual shareholding to be determined by swap ratio later
-Both Standard Life & Sumitomo have agreed to thistransaction
-Expect due diligence & valuations to be done in next 60 days

Max Life, executive chairman Analjit Singh says
-Company is a profitable life insurance player
-Company has a solvency ratio of 345 percent
-Possibility to merge HDFC Life & Max Life & then reverse merge into Max Financial
-Max Life to be merged with Max Financial & than merged with HDFC Life
-Valuation to come in 2 months, will take 10 months for entire process

HDFC says
-The entire transaction will be done via share-swap
-Expect double-digit growth from the merged entity
-Intend to retain top management in both companies

Tata Chemicals
-Have stopped production of complex chemical including Di-ammonium phosphate (DAP) at Haldia plant
-Production of single super phosphate remains unaffected

RBI
-Simplifies & rationalises process of registration of new non-banking finance companies (NBFCs)
-Reduces documentation for NBFC registration to 7-8 from 45 earlier

Rolta India
-Have suffered unexpected delays in large payment collections
-Facing working capital stress due to the delay in payment collection
-Have been unable to meet recent external commercial borrowing (ECB)/bond interest obligations
-Management working on addressing situation in consultation with bankers

Karnataka High Court provides temporary relief to UB Holdings
-Stays Debt Recovery Tribunal (DRT) order in recovery case against UBHL
-Stays demand notice of Rs 192.5 croreagainst UBHL

Other stocks and sectors that will be in news on Monday:
-Export Inspection Council of India and US Food and Drug Administration ink pact to share information on import alerts: PTI
-Eros International signs television licence deal with Zee Network
-IOC-led consortium to buy 24 percent stake in Russia's Vankor oil field from Rosneft for about USD 2.1 billion: PTI
-Cipla in pact with Russian firm Nacimbio for HIV, Hepatitis C drugs: PTI
-HDFC Life's IPO plan put on hold post-merger deal with Max: PTI