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Top stocks in focus on Friday, 21 July 2017

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

SGX Nifty was up 4.5 points, or 0.05 per cent, at 9,900.50 around 7.35 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:

Balaji Telefilms: Reliance IndustriesBSE -0.31 % has picked up a 25 per cent stake in India’s leading TV content production company Balaji Telefilms. RILBSE -0.31 % and Balaji Telefilms announced on Thursday that the former will pick up 2.52 crore preferential shares of Balaji Telefilms at Rs 164 apiece, making a total investment of Rs 413.28 crore.

Bajaj Auto: Bajaj AutoBSE -0.22 % is likely to partner Europe’s iconic motorcycle brand Ducati, encouraged by its existing partnership with KTM, Europe’s largest motorcycle maker. KTM, in which Bajaj Auto has about 48 per cent equity stake is said to be closing in on the Ducati brand, which is on the selling block. The announcement is likely to be made in the next two weeks.

BritanniaBSE -0.51 % Inds: Britannia IndustriesBSE -0.51 % has gone to court against its distributors in Kerala, accusing them of resorting to unfair trade practices to extract higher margins in the first such instance post the GST rollout. Kerala is among the top 10 markets for the maker of Tiger and Good Day biscuits, especially in categories such as cookies and creams.
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Wipro: The IT major recorded a higher-than-expected growth in revenue for the first quarter of this fiscal year and announced it would buy back equity shares up to Rs 11,000 crore, joining peers that ` have announced similar moves.This comes at a time when the technology outsourcing industry is grappling with slowing growth and rising demand from investors for higher returns.

JP Associates, Jubilant Life: Ace Investor Rakesh Jhunjhunwala has picked up 2.5 crore shares, or 1% stake, in Jaiprakash AssociatesBSE 0.00 % in the June quarter, the company’s shareholding data showed. It is not known whether Jhunjhunwala owned any stake prior to the quarter as individual shareholders’ holding details show up on exchanges only if the total stake held is above 1%.

InterGlobe Aviation: IndiGo, India’s largest carrier in terms of market share, said that it will dilute promoter stake to comply with regulatory norms. InterGlobe Aviation, the company that runs IndiGo, said in a BSE filing late Wednesday that its board will meet on July 31 to consider it.

Zee Media Corporation: The company is in advanced discussions to acquire Business Broadcast News, an Anil Ambani-owned company that operates English business news channel BTVi, several people with direct knowledge of the matter said.

RIL: Reliance Industries’ consolidated net profit rose 28 per cent to Rs 9,108 crore in the June quarter, boosted by robust performance by its core businesses — refining margins soared to a nine-year high of $11.9 per barrel, while profitability of the petrochemicals business rose to a record.

GE Power India, Siemens: Three consortia led by multinational transportation giants AlstomBSE -0.15 %, Siemens and Stadler Bussnang AG are in the race to set up an electric rail coach factory in West Bengal. The proposed rail coach factory that would produce coaches with aircraft-type interiors is expected to come up on railway land in Kanchrapara near Kolkata on a public-private partnership basis and will involve a total investment of Rs 2,000 crore.

Ashok LeylandBSE -0.89 %, Indian Bank: Commercial vehicle maker Ashok Leyland, state-run refinery MRPL and PSB Indian Bank are among a dozen companies scheduled to announce their June quarter results later in the day.Tata Sponge, DHFL, Can FinBSE 1.08 % Home, Atul, Quess Corp and Persistent SystemsBSE -0.81 % too will report earnings during the day.

Road, logistics stocks: The government has approved a plan to build 34 mega multi-modal logistics parks at an investment of Rs 2 lakh crore. The projects, for which land is already available with state governments, will be taken up through public-private-partnerships.