Top stocks in focus on Friday, 30 June 2017
Domestic equity markets are likely to open on a flat note on Friday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues.
SGX Nifty was trading 2 points, or 0.02 per cent, up at 9,504 around 7.50 am (IST), indicating a flat start for NSE Nifty index.
Here is a list of top stocks that are likely to be in focus today:
Real estate stocks: The government on Thursday hiked the GST rate for the construction sector to 18 per cent from 12 per cent, but removed land value from computation of tax liability.
Kesoram Industries: The company is looking at increasing its industrial footprint in the eastern region of the country after the buy-back of spun pipe and the heavy chemicals businesses from Camden Industries Ltd.
Bank of Baroda: Brokerage firm Nomura upgraded the public sector lender Bank of Baroda to ‘Buy’ with a target price of Rs 200.
Ashok Leyland: Hinduja group flagship Ashok Leyland is looking at expansion of its commercial vehicle business with plans to introduce a slew of products.
Telecom stocks: Intense competition and pricing pressure will continue to take a toll on the telecom sector with industry revenue expected to plunge by another 6 per cent during the current financial year, according to ICRA.
Aditya Birla Nuvo: Indian private equity firm Premji Invest has invested an estimated Rs 700 crore picking up a 2.2 per cent stake in Aditya Birla Capital, a wholly-owned subsidiary of Aditya Birla Nuvo. The deal values the financial services arm of the Aditya Birla Group at Rs 32,000 crore.
ITC: ITC’s stated leadership ambition in India’s packaged foods business inched a step closer to reality last year, with a 13 per cent increase in sales closing the revenue gap between cookies giant Britannia and the century-old conglomerate that ranks third on the industry’s leader-board. Four years after ITC raced past Hindustan Unilever in the overall foods business, the cigarette company evidenced its makeover into a diversified group through double-digit growth in the consumer foods business, which crossed the Rs 8,000-crore revenue mark in the fiscal ending March 2017.
ICICI, State Bank of India, IDBI Bank, Yes Bank, IndusInd: A consortium of lenders led by ICICI Bank would be able to write back Rs 3,000 crore of provisioning they had made against bad loans after UltraTech Cement completed the takeover of Jaiprakash Associates’ cement business just a day before the end of the quarterly accounting period. Banks including ICICI, State Bank of India, IDBI Bank, Yes Bank and IndusInd had to set aside money against the outstanding loan to the financially stressed Jaypee Group business as the deal got delayed. They would now be able to write back the amount, boosting their June-quarter earnings, analysts said.
UltraTech and Jaiprakash Associates: UltraTech Cement has completed the Rs 16,189 crore acquisition of Jaiprakash Associates’ six integrated cement plants and five grinding units, having a capacity of 21.2 million tonnes.
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Via:: Economic Times – Stocks