IN FOCUS: Top stocks to watch in today's session
NEW DELHI: Domestic equity markets are likely to open on a negative note on Thursday, tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and global cues.
SGX Nifty was down 26.50 points, or 0.26 per cent, at 10,141.50 around 7.37 am (IST), indicating a negative start for NSE Nifty index.
Here is a list of top stocks that are likely to be in focus in today’s trading session.
Matrimony: Shares of Matrimony.com will be listed and admitted to dealings on the Bombay Exchange in the list of ‘B’ Group of Securities on Thursday. The Initial Public Offering (IPO) of Matrimony.com.
Unitech, Parsvnath: SC has asked Unitech to pay Rs 80,000 each to 39 buyers in Gurgaon project; instructs Parsvnath to pay interest at 10 per cent per annum to 70 buyers in Ghaziabad project. Possibly aware of the fact that its order would open a floodgate of similar demands, a three-judge bench led by CJI Dipak Misra clarified that this order would apply only to this case and not be treated as a judicial precedent.
ICICI Prudential: Prudential and ICICI Bank are looking to sell 6 per cent stake in newly-listed ICICI Prudential Life, ET Now reported. The move would enable the promoters to bring down their stakes in the company and meet the minimum public holding norms of 25 per cent. ICICI Bank holds 54.89 per cent stake in the company, while Prudential Corporation Holdings holds 25.83 per cent in the company.
Max Financial Services: Max Financial Services is in talks with the Aditya Birla Group to explore a merger of their life insurance businesses–Birla Sun Life and Max Life Insurance.
Bank of Baroda: Merrill Lynch Markets Singapore Pte bought 7.55 crore shares of Bank of Baroda, representing 3.27 per cent stake, on Wednesday at Rs 147.08 per share, bulk deal data on the BSE showed. Separately, UK-based hedge fund Theleme Master Fund, which held 3.29 per cent in the public sector lender as of June 30, sold its entire stake of 7.58 crore shares at Rs 147.06 apiece, data showed.
Mahindra & Mahindra: Mahindra & Mahindra said on Wednesday it agreed to acquire Turkey’s fourth-largest tractor manufacturer, Erkunt Traktor Sanayii, and an associate company for an enterprise value of Rs 735 crore) of $117 million.
Reliance Communications: The first round of talks between Ericsson and Reliance Communications (RCom) have been inconclusive, with the Swedish equipment maker sticking to its stand on dragging the Anil Ambani group flagship through a bankruptcy process if not paid its dues, spelling more bad news for the telco’s merger with Aircel.
Yes Bank:Yes Bank has eliminated about 2,500 jobs -more than 10 per cent of its workforce -citing increased redundancy, poor performance and the impact of digitisation.
Larsen & Toubro: The engineering major is reviewing its 2017-18 order target for hydrocarbon business as domestic orders have slowed post implementation of GST and orders from the Middle East are taking time in getting final ised, a top executive told ET. The company expects some respite from new markets in North Africa where it is in the process of bidding for projects worth $1.5 billion and is optimistic of bagging at least 30 per cent of the jobs in the next nine months
Union Bank of India: Centralisation, verticalisation and digitalisation would be the strategic levers for Mumbai-based Union Bank of India’s quest toward revenue leadership, with the lender seeking to be the third-largest domestically by 2020 and securing 1 per cent return on assets by then.
ONGC:Oil and Natural Gas Corp plans to relinquish its coal bed methane (CBM) block in Raniganj, West Bengal, but is on course to produce gas from another CBM block in Bokaro in February, a senior executive said.
Reliance Industries:Reliance Industries (RIL) is keeping its options open to significantly expand its giant Jamnagar refinery in the long run depending on fuel demand, but it has not taken any investment decision for such a project, according to industry sources and an agency report.
ITDC: The Centre has decided to exit three ITDC hotels, including Jaipur Ashok, and hand them over to the state gots concerned. The Cabinet approved vernments concerned. The Cabinet approved the transfer of Hotel Jaipur Ashok and Lalitha Mahal Palace Hotel, Mysore, to the governments of Rajasthan and Karnataka, FM Arun Jaitley said. It also cleared disinvestment of ITDC’s 51 per cent equity in Donyi Polo Ashok, Itanagar, in favour of Arunachal Pradesh, he said.
Pharma stocks: NPPA on Wednesday said it has fixed the ceiling price for 39 more drug formulations, including those for treatment of cancer, TB, malaria and hepatitis B.
Hero MotoCorp: The country’s largest two wheeler maker Hero MotoCorp has crossed 75 million cumulative sales milestone, a senior company official said on Wednesday. The company, which has set a target of achieving cumulative sales of 100 million units by 2020, also targeting double digit growth during the festival season this year.