Top stocks in focus on Monday, 24 July 2017

Image result for Top stocks in focus on Monday, 24 July 2017Here is a list of top stocks that are likely to be in focus in today’s session.

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

SGX Nifty was down 6.50 points, or 0.07 per cent, at 9,919 around 5 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

Avenue Supermarts: The company, which owns DMart chain of supermarkets, on Saturday reported a 47.60 per cent year-on-year (YoY) rise in net profit at Rs 174.77 crore for the June quarter. The Radhakishan Damani-promoted firm had reported Rs 118.44 crore profit in the corresponding quarter of last year.

Colgate-Palmolive: In a first, Colgate-Palmolive’s global CEO Ian Cook named Indian rival Patanjali while talking to investors about the need to respond to changing consumer preferences in India where the toothpaste giant recorded its steepest market share fall in a decade last year. “Patanjali in India takes a very nationalist view of its business,” Cook told investors during an earnings conference call on Friday.

Bayer CropScience: Thec comapny received shareholders’ nod for buyback of shares worth Rs 499.99 crore in cash. In a BSE filing, the company informed that 10,20,408 shares, representing 2.89 per cent stake, will be bought at a price of Rs 4,900 a scrip in cash.

ONGCBSE 0.24 %, HPCL: ONGC will not be required to make an open offer to minority shareholders of HPCLBSE -0.20 % after buying out government’s 51.11 per cent stake as the deal won’t trigger takeover norms as did the IOC-IBP merger in 2002, a senior government official said.

Divi’s Labs: The Drug firm reported 41.50 per cent dip in standalone net profit at Rs 176.54 crore for the first quarter ended June 30, impacted by USFDA alert for a unit at its Visakhapatnam facility. The company had posted a net profit of Rs 301.81 crore for the corresponding period of previous fiscal, Divi’sBSE 0.53 % Labs said in a filing to BSE.

Vijaya Bank: The lender reported 57.5 per cent increase in net profit at Rs 254.69 crore for June quarter owing to healthy growth in retail income aided by a marginal fall in bad loan proportion. The public sector bank had registered a net profit of Rs 161.66 crore in the corresponding April-June quarter of FY2016- 17.

Havells India: Foreign brokerage HSBC has upgraded the stock to ‘Buy’ from ‘Hold’, with a new price target of Rs 535 per share against Rs 380 per share earlier.

Strides Shasun: The drugmaker has received USFDA approval for Cetirizine softgel capsules.

Tata Sponge: Tata Sponge Iron at its meeting held on July 21 has approved in-principle for setting up a steel plant of capacity of 1.5 MTPA, in phases at Beleipada, Keonjhar District, Odisha, subject to the evaluation of financial viability of the project.

Lupin: The drugmaker said that its Goa manufacturing facility has cleared a pre-approval inspection (PAI) conducted by the US Food and Drug Administration (FDA) between 17 July and 21 July.

Amtek Auto: Troubled auto component firm Amtek Auto said its arm Amtek Global Technologies would sell its UK-based subsidiaries’ plants to the Liberty group.

Oil stocks: Kuwait’s oil minister Essam al-Marzouq said on Saturday that compliance with oil production cuts by OPEC and non-OPEC countries is good and that deeper cuts are possible. Ministers from the OPEC and non-OPEC producers will meet in the Russian city of St Petersburg on Monday to discuss the deal on production cuts.

J&K Bank: Jammu & Kashmir Bank today reported 32 per cent rise in net profit to Rs 30.19 crore for the quarter ended on June 30, 2017. The bank had reported a net profit of Rs 22.88 crore in April-June 2016.

ThirumalaiBSE 1.28 % Chemicals: Net profit of Thirumalai ChemicalsBSE 1.28 %rose 85.04 per cent to Rs 29.81 crore in the quarter ended June 2017 as against Rs 16.11 crore during the previous quarter ended June 2016. Sales rose 54.10 per cent to Rs 258.89 crore in the quarter ended June 2017 as against Rs 168.00 crore during the previous quarter ended June 2016.


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Loknath Das

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