Top stocks in focus on Monday, 17 July 2017 – Economic Times

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NEW DELHI: Domestic equity markets are likely to open on positive note on Monday, tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues.

Nifty50 futures on the Singapore Stock Exchange were trading 34 points higher at 9,937, indicating higher opening for the domestic market.

Here is a list of top stocks that are likely to be in focus today:

GMR: GMR Infrastructure is in advanced talks with sovereign wealth fund Abu Dhabi Investment Authority (ADIA) to sell a stake of up to 49 per cent stake in Hyderabad International Airport, multiple sources told ET. The Bengaluru-based infrastructure developer is looking to sell non-core assets to lighten its debt burden. If the transaction goes ahead, the airport entity will be valued at Rs 5,000 crore.

DCB Bank: Private sector lender DCB Bank reported a 38% rise in net profit for the first quarter of this year amidst a slight worsening of the quality of assets held by the bank. In a filing to the stock exchanges, the bank reported a net profit of Rs 65 crore against Rs 47 crore last year.

Alkem Laboratories: The drugmaker said the US health regulator has not issued any ‘observation’ post inspection of its Taloja facility in Maharashtra.

Karnataka Bank: The lender has reported a 10% growth in net profit in April-June quarter compared to the same period last fiscal year. The bank on Saturday announced its quarterly results, reporting a profit of Rs 134 crore, compared to Rs 122 crore last year. The net interest income (NII) rose 16% year-to Rs 424 crore.

Wipro: The IT firm’s board will consider a share buyback proposal on July 20.

ACC, Jubilant Foodworks: The day will see 17 BSE listed companies to report June quarter results on Monday. Among them would be cement maker ACC and the master franchise for Domino’s Pizza and Dunkin’ Donuts in India, Jubilant FooodWorks. Prakash Industries, AGN Industries, Cochin Minerals and Sharda Motor Industries would also report earnings later in the day.

BPCL: BPCL has bought a cargo containing 500,000 barrels each of Mars and Poseidon for delivery from September 26 to October 10, its first purchase of US oil. The landed price of the American oil cargo would be “reasonably competitive” to the delivered price of the high sulphur oil from the Middle East , BPCL’s head of refineries Ramachandran said.

ICICI Bank: ICICI Bank’s JV with Canada-based Fairfax Financial Holdings, ICICI Lombard General Insurance Company, has filed draft prospectus with Sebi to dilute around 19 per cent stake through an initial public offering, promoter ICICI BankBSE 0.08 % said today.

JSPL, JSW Energy: The deal with regard to buying JSPL’s 1,000 MW power plant in Chhattisgarh is on track and is likely to close by June next year, JSW Energy has said. “The Tamnar acquisition is on track and expected to close before the long stop date of June 30, 2018,” JSW Energy said in its annual report 2016-17.
Adhunik Metaliks: SBI has filed insolvency plea against the company in law tribunal on July 11.

Tata Steel: The steelmakerhas emerged as the first steel company to enter into a Long Term Tariff contract (LTTC) with Indian Railways. The LTTC has been introduced by Indian Railways to establish long-term contracts with customers with guaranteed incremental revenue for Indian Railways.

MOIL: The company has signed an MoU with the steel ministry to meet production target of 12.50 lakh tonnes and a capex of Rs 205.80 crore in the ongoing financial year.

Cadila Healthcare: Drug firm Cadila Healthcare said it has received tentative nod from the US health regulator to market Fingolimod capsules used for treatment of multiple sclerosis.

Inox Wind: Wind energy solutions provider Inox Wind (IWL) is challenging the NCLT’s Chandigarh bench order on insolvency, claiming it is solvent and in “excellent” financial health. NCLT passed an order on July 5, clearing way for the insolvency of the company after an ‘operational creditor’ Jeena and Co moved a petition for the same citing non-payment for services it provided to Inox Wind for clearance of import shipments.

PSU banks: The government is working on a consolidation agenda with a view to creating 3-4 global-sized banks and reduce the number of state-owned lenders to about 12, an official said. The 21 public sector banks would get consolidated to 10- 12 in the medium term, the official said.