In Focus: Top stocks to track in today's session on Dalal Street
Domestic equity markets are likely to open in red on Friday, tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and global cues.
At 8.00 am (IST), Nifty futures on SGX were trading 11 points, or 0.10 per cent, down at 10,497, indicating a weak start for the Nifty50.
Benchmark equity indices BSE Sensex and NSE Nifty closed lower on Thursday amid expiry of December derivatives contracts. The 50-share NSE Nifty settled 12.85 points, or 0.12 per cent, down at 10,477.90 on December 28. Here is a list of top stocks that are likely to be in focus in today’s trading session:
Billionaire Mukesh Ambani on Thursday stepped in to bail out younger brother Anil Ambani‘s debt- ridden Reliance Communications by acquiring spectrum, tower, optical fiber network and other wireless assets.
Shares of Astron Paper & Board Mills will make their stock market debut on Friday after successfully concluding its initial public offer (IPO) last week.
Motherson Sumi Systems (MSS):
Brokeraeg firm Motilal Oswal has initiated coverage on Mother Sumi with ‘Buy’ rating and set a target price at Rs 458. “We estimate MSS’s consolidated revenues, EBITDA and PAT to grow 22 per cent, 30 per cent and 33.5 per cent CAGR FY17-20E. Consequently, we expect RoCE (post-tax) to improve to 21.2 per cent in FY20 (14.7% in FY17),” the brokerage house said in a report.
Canadian asset manager Brookfield and the Kotak Mahindra group have jointly bid for 2,200 megawatts of power assets belonging to Jaypee Power Ventures, a unit of Jaiprakash Associates, two persons with direct knowledge of the development said.
The Securities and Exchange Board of India (Sebi) on Thursday gave its nod to the convergence of both equities and commodity-backed stocks on exchanges from October 2018.
Tata Global Beverages:
The company has sold its stake in joint venture firm Estate Management Services (EMSPL) for a consideration of Rs 120 crore.
Larsen & Toubro:
The company has won a Rs 1,000-crore contract to maintain 5 million smart meters in Uttar Pradesh and Bihar over the next eight years, sources said.
Pharma major Lupin on Thursday said it has received final approval from the US health regulator for its generic version of Dovonex scalp solution used in treatment of psoriasis of scalp. The approval by the US Food and Drug Administration (USFDA) to Lupin’s calcipotriene topical solution is for strength of 0.005 per cent (scalp solution), the company said in a statement.
Bank of Baroda:
The lender on Thursday said it has entered into an agreement with UniCredit SPA to acquire their 51 per cent stake in Baroda Pioneer Asset Management Company, thus increasing its shareholding to 100 per cent. Its foreign partner Pioneer Investments will exit the venture. The agreement is subject to approval from regulatory authorities. The move comes on the back of the acquisition of Pioneer Investments by Amundi earlier this year. Amundi already has a presence in an Indian AMC. As on November 2017, the fund’s average assets under management (AUM) stood at about Rs 11,000 crore.
Indiabulls Housing Finance:
The company on Thursday, , allotted its Third tranche of secured, redeemable, non-convertible debentures of face value Rs 10 lakh each (‘NCDs’) aggregating to Rs 780 crore on private placement basis.