Stocks

Top stocks in focus on Wednesday, 6 September 2017

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NEW DELHI: Domestic equity markets are likely to open on a negative note on Wednesday, tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and negative global cues.

At 8.00 am, Nifty50 futures on the Singapore Stock Exchange were trading 44.50 points, or 0.45 per cent, down at 9,930.50, indicating a negative opening for the domestic market.

Merck: German drug maker MerckBSE 3.16 % is looking to sell its $1-billion global consumer health business, including that in India.

IDBI Bank: Seeking to recover dues from Jaypee InfratechBSE -3.84 %, IDBI BankBSE -0.81 % urged the Supreme Court on Tuesday to lift the stay order on insolvency proceedings.

Just Dial: HDFC Mutual Fund bought 32.07 lakh shares, or a 4.6% stake, in . 375 per Just Dial at ` share on Tuesday, bulk deal data on the National Stock Exchange showed.

ICICI Bank: ICICI Lombard General Insurance Company has got capital markets regulator Sebi’s go-ahead for its estimated Rs 6,000 crore initial public offer, .which could be the first by a general insurer in the country.

Maruti Suzuki: Local unit of Japan’s SuzukiBSE 0.23 % Motor, which has outpaced the industry in growth in past several years, is also projecting double-digit expansion for itself.

Bharat Financial: The Reserve Bank has restricted foreign investors from buying more shares in non-banking finance company Bharat Financial Inclusion after the allowed investment limit reached the ceiling.

IOCBSE 0.22 %, Indraprastha GasBSE -1.05 %, HPCL: Indraprastha Gas, Indian Oil-Adani Gas combine and Hindustan Petroleum-Oil India joint venture are set to win licences to distribute gas in one city each in the latest round of auction, according to people with direct knowledge of the matter.

MRF: Tyre major MRF has recently released the Perfinza range of luxury and premium tyres, making this the first tyre made by any Indian company to be approved by a leading global luxury car manufacturer. Perfinza will have cricketing star AB de Villiers as its global brand ambassador.

Bhart Airtel: Bharti Airtel’s aggressive $500-million bid to grab digital media rights of the Indian Premier League (IPL) cricket tournament signals the market leader’s intent to take on 4G newcomer Reliance Jio Infocomm on the content and digital services front, industry experts said.

IPOS TO WATCH

Noida-based consumer electronics and lightning products maker Dixon Technologies (India) on Tuesday raised Rs 179.8 crore by allotting 10.18 lakh shares to anchor investors at the higher end of the IPO price band of Rs 1,760-Rs 1,766 per share. The issue opens on Wednesday.

Besides, Bharat Road Network, a Srei Infrastructure Financeinitiative, will sell up to 2.93 crore equity shares in Rs 195-205 range .

[“Source-economictimes”]

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Loknath Das

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