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Top 12 Stocks in focus on Thursday, 23 February 2017

Domestic equity markets are likely to open on a flat note on Thursday following Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global

Here is a list of top 12 stocks that are likely to be in focus today:

Bharti Airtel: Telecom major Bharti AirtelBSE 8.46 % on Thursday announced that it has entered into a definite agreement with Telenor South Asia Investments Pte to acquire Telenor (India) Communications Private Ltd. The acquisitions is subject to requisite regulatory approvals. The company on Wednesday also reported that it has acquired a strategic equity stake in financial technology (FinTech) company Seynse Technologies.

Tata Motors: Bank of America Merrill Lynch has maintained ‘Buy’ on Tata MotorsBSE 0.18 % with a target price of Rs 560. “New Range Rover launch to strengthen product pipeline and outlook for FY18/19 appears to be strengthening,” according to the investment bank. Shares of Tata Motors were at Rs 460.15 on Wednesday.

Dilip Buildcon: The company on Wednesday informed bourses that the board of directors of Dilip Buildcon on February 28 will consider and approve incorporation of new SPV as wholly owned subsidiary.

NTPC: NTPCBSE -0.63 % on Wednesday informed bourses that the 115 MW out of 260 MW of Bhadla Solar Power Project of NTPC Limited has been commissioned. With this, the installed capacity of NTPC’s solar power projects touches 475 MW. The total installed capacity of NTPC on standalone basis has become 41177 MW and that of NTPC group has become 48143 MW.

Venus Remedies: Board of directors of the company at its meeting held on Wednesday recommended further issue of equity capital up to an amount of Rs 25 crore to qualified institutional buyers through qualified institutional placement on a price to be computed as per the applicable laws.

Kingfa Science & Technology: The company has informed bourses that a meeting of the rights issue committee has been scheduled on February 28, 2017, to consider and take on record, the pricing, ratio and record date for the rights issue of equity shares.

IDFC Bank: The bank is creating a renewable energy niche in loans, sanctioning Rs 675 crore to a Rajasthan-based solar power project owned by French company Solairedirect.

Phoenix Mills: HSBC maintained ‘Buy’ on Phoenix MillsBSE 4.80 % with a target price of Rs 500. “Rental income grew 12% y-o-y even though demonetization hurt sentiment,” said HSBC. Shares of the company were at Rs 362.70 on Wednesday.

Lords Chloro Alkali: For the quarter ended December 31, 2016, the company reported a net profit of Rs 0.36 crore, down 86 per cent, against Rs 2.61 crore in the corresponding quarter last year.

Asian Oilfield Services: The company’s wholly owned subsidiary Asian Oilfield & Energy Services DMCC, Dubai has signed a contract for providing operations and maintenance Services (O&M) for an offshore production unit operating at EBOK field offshore Nigeria. The total value of contract is about $95 million for a total period of 5 years (inclusive of client options).

Baba Arts: Board of directors of the company in its meeting held on February 22 has approved commencement of new business of import, export, wholesale and retail trading of PVC Resin, HDPE, LDPE, PP and all kinds of plastic raw materials and goods.

Maruti Suzuki: The country’s largest carmaker Maruti SuzukiBSE -0.38 % India (MSI) is investing another Rs 1,900 crore till March 2019 on enhancing the R&D centre here for cutting time of new product development and to expand infrastructure for evaluating vehicles’ safety.