Stocks to Watch - Bharti Airtel, DLF, GMR

The government has reportedly asked Bharti Airtel to furnish details of its proposed $23-billion deal with South African operator MTN. The matter will be referred to the law ministry for legal opinion, the reports added.

Financial Technologies said on Thursday, 4 June 2009, the MCX Stock Exchange plans to divest 18% of its equity to Indian banks. Of this, it has already divested 6.48% equity with Union Bank of India and Bank of India through a primary offering for Rs 87.5 crore. The exchange is also expecting another 11.52% divestment to other public and private banks.

Indage Vintners has denied a report that it was in talks with Japanese beer maker Asahi Breweries and Indian entrepreneur Ravi Jain about a stake sale. Some reports had suggested Asahi and Jain were in the race to buy a major stake in Indage, which it said could attract an enterprise valuation of around $150 million.

Aban Offshore has reportedly told its bankers to moderate or change its huge debt repayment schedule and terms, due to a massive loan of Rs 15,000 crore taken for an overseas acquisition.

DLF is reportedly looking to sell land assets over the next one year to raise Rs 2000 crore in a bid to retire debt.

Fortune Hotels, a unit of ITC, is reportedly planning to launch 26 hotels in India by mid-2011. Currently it has 29 hotels with a room inventory of 2,400.

GMR Group is reported to be in talks with Nuclear Power Corporation of India to set up a nuclear power joint venture company.