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In Focus: Top stocks to track in today's trading session

by January 17, 2018 General

NEW DELHI: Domestic equity markets are likely to see a flat to positive start on Wednesday, tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and global cues.

Nifty futures on the Singapore Stock Exchange were trading 2.5 points, or 0.02 per cent, higher at 10,718, indicating a flat start for the Nifty50 in India.

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

HUL, Adani Power:
Hindustan Unilever, Adani Power, Adani Transmission, Mindtree, DCB Bank, Tata Sponge and Zee Entertainment are among key companies that will announce their quarterly earnings today.

TCS:Tata Consultancy Services signed a $690 million (Rs 4,400 crore), 10-year deal with M&G Prudential, the UK and European savings and investments business unit of Prudential Plc. This is the third large insurance contract won by India’s top IT services company in the past four months.

Golden Tobacco:
Promoters Pramod Jain and M/s. Plus Corporate Ventures Private has made an open offer to acquire upto 44,02,201 fully paid-up equity shares, representing 25 per cent of the issued equity share capital of the company. The Offer Price payable to the Original shareholders would be Rs 159.26/- per share, which includes an interest amount of Rs 58.26 per share.

Reliance Industries:
The company will invest Rs 5,000 crore in West Bengal to bolster telecom arm Reliance Jio Infocomm’s operations, its digital ecosystem as well as the group’s retail and fuel retail businesses, chairman Mukesh Ambani said.

JSW Steel:
Steel, cement and power conglomerate JSW Group will make a fresh investment of Rs 10,000 crore in West Bengal, chairman Sajjan Jindal said on Tuesday.

Low-cost carrier SpiceJet is exploring the possibility of manufacturing seaplanes in West Bengal, as per its chairman. At the 4th Bengal Global Business Summit, Ajay Singh said there is good potential for making Bengal a hub for seaplanes. These would connect places with high tourist potential, such as Gangasagar, Sunderbans and other parts of the state, he said.

Jaypee Infra:
Debt-ridden Jaypee Infratech’schief financial officer (CFO) Ram Bahadur Singh has resigned on health grounds, the company has said. Jaypee Infratech has been taken over by a NCLT-appointed insolvency resolution professional for recovery of bad loans.

GAIL (India) and Gazprom have successfully re-negotiated the long term LNG sale and purchase agreement originally signed in the year 2012. An amendment to this effect was signed on 16 January. A long term LNG sale and purchase agreement building up to 2.5 MMTPA of LNG on DES (Discharge ex-ship) basis was executed by GAIL with Gazprom Marketing & Trading Singapore in the year 2012, the supplies under which are scheduled to start in Q2 2018.

Andhra Bank, SBI:
Andhra Bank and State Bank of India have jointly put on the block bad loans worth over Rs 5,000 crore as they look to avoid steep provisioning if these loans don’t get resolved by March 31. Andhra Bank has put on the block the 112 accounts with outstanding loans of Rs 3,251, while State Bank of India has done the same for 15 accounts amounting to Rs 1,833 crore.

Nestle India:
Swiss food group Nestle has agreed to sell its US confectionery business to Italy’s Ferrero for $2.8 billion, it said on Tuesday, marking CEO Mark Schneider’s first big sale and a small step on its path towards healthier products.

Bharti Airtel:
Merrill Lynch on Wednesday offloaded shares worth Rs 1,931 crore in telecom operator Bharti Airtel, through an open market transaction. According to the bulk deal data available with the BSE, Merrill Lynch Markets Singapore sold 3.87 crore shares, amounting to 0.97 per cent stake, in Bharti Airtel. The shares were disposed of at an average price of Rs 499.1 apiece, valuing the transaction at Rs 1,931.23 crore, the data showed. At the end of December quarter, Merrill Lynch held 5.09 crore shares of the telecom major. The shares were bought by SRS Partners (Cayman) LLC.

S H Kelkar & Company:
Net profit of S H Kelkar & Company rose 7.13 per cent to Rs 27.19 crore in the quarter ended December 2017 as against Rs 25.38 crore during the previous quarter ended December 2016. The company has entered into an agreement to acquire Italy based – Creative Flavours and Fragrances S.p.A along with its subsidiaries

IPO watch:
Amber Enterprises
is all set to hit the primary market with its initial public offering on Wednesday. The Rs 600 crore issue will comprise of offer for sale (OFS) by promoters Jasbir Singh and Daljit Singh, aggregating up to Rs 125 crore and a fresh issue of Rs 475 crore.

Newgen Software:
The initial public offering (IPO) of Newgen Software Technologies was subscribed 19 per cent on the first day of the three-day bidding process on Tuesday. Data available on the NSE showed the issue received bids for 23.16 lakh shares against the issue size of 1.22 crore shares.