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stocks to focus on

Sixteen stocks in focus on Wednesday, 5 July 2017

Domestic equity markets are likely to open on a flat note on Wednesday following Nifty futures on the Singapore Stock Exchange (SGX Nifty) and weak Asian cues.

SGX Nifty was up 1 point, or 0.01 per cent, at 9,626 around 8 am (IST), indicating a soft start for NSE Nifty index.

Here is a list of over fifteen stocks that are likely to be in focus today:

ICICI Prudential Life Insurance: ICICI Prudential Life Insurance Co, India’s only listed life insurance company, has confirmed its interest in buying the beleaguered Sahara Life insurance.

ICICI Bank: Private sector lender ICICI Bank on Tuesday said the joint venture agreement between it and Fairfax Financial Holdings Ltd has been terminated ahead of the IPO of ICICI Lombard General Insurance Company — a JV between the two entities.

Amtek Auto: Proxy advisor Stakeholders Empowerment Services (SES) has questioned the infusion of loans to Amtek Auto by promoter firms Aisa International and Amtek Laboratories, doubting the funding source as the two companies have not filed their returns since 2014.

Sun Pharma: The pharma major, India’s largest drug maker, signed a long-term agreement with South Korea’s Samsung BioLogics for the manufacture of an experimental medicine to treat psoriasis.

ABC Bearings: This company on Wednesday informed bourses that the board has approved the merger of ABC BearingsBSE 19.99 % as a going concern with Timken IndiaBSE 3.50 %.

Bajaj Finance: Global brokerage house Credit Suisse maintained ‘Underperform’ rating on Bajaj FinanceBSE 0.46 % with a target price of Rs 970 per share.

Mahindra & Mahindra: Mahindra & Mahindra on Tuesday announced reduction in prices of its utility vehicles and SUVs by up to 6.9 per cent on an average to pass on the GST benefit to customers.

Jyoti Structures: The clock has started ticking for Jyoti StructuresBSE -3.66 %, the first of the 12 large defaulters against which banks have proceeded under the Insolvency and Bankruptcy Code following directions from the Reserve Bank of India (RBI). The National Company Law Tribunal (NCLT) on Tuesday admitted bankruptcy proceedings against the Mumbai-based company, a move which could result in either new owners or liquidation.

Reliance Communications: Billionaire Anil Ambani-owned Reliance Communications (RCom) will not pay outstanding interest until December, on its bonds held by LIC of India, the country’s largest insurer, as the telco seeks to shed Rs 25,000 crore of debt as part of a financial restructuring.

Lanco Infratech: Hindustan Powerprojects has begun to invoke Rs 500 crore bank guarantees of Lanco InfratechBSE -4.27 %, citing non fulfilment of a work contract, triggering a bitter row between the companies.

YES Bank: YES Bank, India’s fourth-largest private sector bank, on Tuesday signed an MoU in London with Santander to promote India-UK trade and business opportunities.

Axis Bank: The lender is seeking members’ nod for raising funds worth upto Rs 35,000 crore.

Texmaco Rail: Adventz Group on Tuesday said it has signed a $2 billion plus memorandum of understanding (MoU) with Israel’s Lesico Group to collaborate in the light rail transit (LRT) projects in Tel Aviv and Jerusalem. “The MoU between Lesico with Adventz Group will be a first for an Indian conglomerate with Group company Texmaco RailBSE 10.39 % & Engineering Limited, which will lend its expertise in building the Tel Aviv Metropolitan Area Mass-Transit System,” the company said in a statement.

STC and MMTC: According to reports, government may consider merger of State Trading Corporation (STC) and Project & Equipment Corporation of India (PEC) with Minerals Trading Corporation of India (MMTCBSE 4.78 %).

Reliance Industries: Reliance Jio is likely to launch its much-awaited 4G VoLTE feature phone within this month, with brokerage HSBC putting the price at as low as Rs 500, a move which could bring in another wave of disruption in the telecom market.