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Top stocks in focus today: Banking stocks, Motherson Sumi, M&M, Bhushan Steel

These companies will be in focus during trade today based on recent and latest news developments.

Banking stocks in focus today. RBI allows banks to provide for Q3 and Q4 FY18 bond losses over 4 quarters. This is significantly positive news for PSU banks, which are having m-to-m losses on government bonds in Q3 and Q4 FY18.

Automotive component manufacturer Motherson Sumi Systems Ltd is set to acquire two companies of the Reydel Automotive Group (Reydel) for $201mn.

Mahindra and Mahindra (M&M) reported total sales volume growth of 10% yoy in March 2018. It sold 62,077 units in March 2018 against 56,202 units in March 2017.

Arvind is planning to produce 40% of garments in-house, from 10% at present, as it looks to notch up the turnover of its textile business to Rs10,000cr in the next five years, as per media reports.

Tata Steel to pay Rs35,200cr cash for Bhushan Steel. To convert remaining debt to equity.

Escorts increased shareholding in its subsidiary company Escorts Securities

JSW Steel-Numetal, Vedanta and ArcelorMittal enter race for Essar Steel.

Galaxy Surfactants Limited’s two facilities (M3 and N46) located at Tarapur have undergone USFDA inspection which was concluded on March 30, 2018.

VST Tillers March sales up 22.8% yoy to 7,399 units; commissions new power tiller plant in Karnataka.

Karnataka Bank turnover cross Rs1.1 lakh cr; reduces the interest rate on loans offered to MSMEs.

Akzo Nobel completed sale of speciality chemicals division.

Fortis Healthcare seeks shareholders nod for purchase of RHT Health’s assets.