Stocks to watch

Pyramid Saimira Theatres is reportedly on the verge of acquiring a theatre chain in UK. The target firm owns 70 screens in the UK. However, the size of the deal is around $100 million, the reports added.

Indus Towers, the joint venture company of Bharti Airtel, Vodafone and Idea, will reportedly tap the capital markets in the next 2-3 years followed by the listing of Bharti Airtel's tower unit. While Bharti Airtel and Vodafone hold 42% stake each in Indus Towers, the remaining 16% stake is held by Idea Cellular, the reports added.

National Mineral Development Corporation (NMDC) is reportedly scouting for iron ore and coal mines for acquisition, both in India and overseas. Domestically also the company intends to acquire iron ore mines in Karnataka, Jharkhand and Chhatisgarh. It is also eyeing coal mines in West Bengal, the reports added. Separately, the reports suggested that NMDC will increase output by 10% in the year starting April to meet rising demand from steelmakers.

Andhra Pradesh Government has cut sales tax on aviation turbine fuel (ATF) from 33% to 4%, a reduction of nearly 90%. Maharashtra Government levies 25% on the fuel. Aviation stocks may see some action based on this report.

Bharat Heavy Electricals (Bhel) is reportedly in discussions with a few Russian construction companies for tapping the power market that is booming on the back of an energy-led growth. It would be for the first time that Bhel would be entering Russia in recent history, the reports added.

The department of telecom (DoT) has reportedly informed the Central Vigilance Commission and lawmakers separately that it has not allocated excess spectrum to any GSM operator and dismissed allegations that the operators were hoarding spectrum.