Top stocks in focus on 22 November 2017
NEW DELHI: Domestic equity markets are likely to see positive opening on Wednesday, tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and global cues.
At 8.10 am, Nifty futures trading on SGX were trading 23.50 points, or 0.23 per cent, higher at 10,380, indicating a positive start for the Nifty50. Here is a list of top stocks that are likely to be in focus in today’s trading session:
TeamLease Services: T Rowe Price, one of the world’s largest asset management firms, has bought 5 per cent in listed recruitment and staffing company TeamLease Services for about Rs 160 crore.
Bank of Baroda: The state-run bank said that its board has approved raising additional equity capital aggregating up to Rs 6,000 crore by way of right issue or qualified institutional placement (QIP).
Dabur India: The FMCG company has announced an 8-10 per cent drop in the prices of skin-care, shampoo and homecare products.
Lakshmi Vilas Bank: The capital raising committee of the board of lakshmi Vilas Bank will be held on Friday to consider the size, price an ratio forthcoming rights issue. It will also discuss the issue opening and close date and fix record date.
Adani Enterprises: The company said it seeks government loan for Carmichael coal mine in Australia. Meanwhile, foreign media reported that the company is close to securing a deal with Chinese enterprises and export credit agencies to fund both the mine and the rail link.
Reliance Industries: Reliance Jio Infocomm will be the future, long-term growth engine for Mukesh Ambani-led Reliance Industries (RIL), and is on course to generate an operating income of more than $5 billion by FY25, Goldman Sachs has said.
Canara Bank: State-owned Canara Bank said it will monetise non-core assets by selling stakes in three subsidiary companies to improve its capital base. The bank, as per a regulatory filing, has decided to go for monetisation of non-core assets by selling its shares in part or full in Canara Robeco Asset Management Co, Canbank Computer Services and Can Fin Homes.
New India Assurance: The insurer has said that there has been no risk due to delays in the release of movie Padmawati. The movie has been insured with the state-run New India Assurance for Rs 300 crore under two heads — production and distribution. “There is no risk so far,” said Srinivasan chairman of New India Assurance. “This cover kicks in only after the film is officially released.”
Telecom stocks: The telecom regulator has proposed relaxing spectrum holding limits, a move that would encourage mergers and acquisitions as well as spectrum trading in a market where small carriers are trying to sell assets, including airwaves, to repay debt.
YES Bank: The private sector lender has raised $400 million in syndicated loans from lenders in Taiwan and Japan for on-lending to clients.It exercised a greenshoe option to raise $250 million in a five year commercial loan from 17 Taiwanese banks, a statement said.
SAIL: Union Steel Minister Birender Singh said the SAIL and ArcelorMittal will sign an MoU for forming a joint venture to set up a 1.5 million tonne per annum auto-grade steel plant, in the next few days.
Mahindra & Mahindra: Ford Motor and its Indian partner Mahindra & Mahindra could create their own electric car line in the country to help battle pollution from the vehicles clogging India’s roads, chairman Anand Mahindra said.
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Via:: Economic Times – Stocks