Top 10 stocks in focus today: Punjab National Bank, Bank of Baroda, Dalmia Bharat
Punjab National Bank: Punjab National Bank reported a net profit of Rs.549 crore in the second quarter of the current fiscal, a fall of 11% from the Rs 621 crore profit recorded in the corresponding year-ago period.
Reliance Industries: Reliance Industries partners are considering joining the arbitration that the Mukesh Ambani-run firm is planning to initiate against the government for slapping a $1.55 billion demand for “unfairly enriching” by producing natural gas belonging to Oil and Natural Gas Corp, as per media reports.
Dalmia Bharat Ltd, OCL India Ltd: Dalmia Bharat Ltd and OCL India Ltdhave decided to merge the two entities, a move that will create the fourth-largest cement maker in the country with an installed capacity of 25 million tonnes per annum and annual revenues of about Rs.10,000 crore.
Bank of Baroda: Bank of Baroda reduced the marginal cost of fund (MCLR) based interest rates by 10 basis points across different tenors with effect from 7 November.
PNB Housing Finance: Shares of PNB Housing Financeis going to list on bourses today.
KPIT Tech: KPIT Technologies will sell its Berlin-based subsidiary KPIT medini Technologies AG to ANSYS, but did not disclose the deal size, as per media reports.
Union Bank of India: Union Bank of India reported its net profit at Rs 177 crore in the September quarter, down 73% from Rs 658 crore posted a year ago, on account of a massive rise in provisions for bad loans.
Indian Hotels: Indian Hotels Company reported narrowing of consolidated net loss to Rs 26.8 crore for the second quarter ended September 30, 2016.
Titan Company: Titan reported a 23.5% year-on-year increase in net profit to Rs.180.76 crore in the September quarter as it benefited from cost cuts, improved margins and festive season sales.
Credit Analysis and Research: The company reported an increase of 14% in its net profit at Rs 43 crore for the second quarter ended September.