Top stocks in focus today: Reliance Industries, ONGC, HPCL, Dr.Reddy’s, Apollo Micro Systems
Apollo Micro Systems will debut on exchanges today. The final issue price is fixed a higher end of price band of Rs 270-275 per share.
ONGC signed a deal to acquire 51.11% stake in HPCL for about Rs36,915cr in an all cash deal, which would close by end of Jan 2018.
Grasim Industries has received green nod for expanding the production of viscose staple fibre at Bharuch, Gujarat that would entail an investment of Rs2,560cr.
Future Retail stock in focus today as Future Group is in advanced talks to acquire grocery retailer Foodworld Supermarkets, a deal that could give Kishore Biyani sway over a network of nearly 150 groceries, beauty and personal care stores in southern India, as per media reports.
Dr.Reddy’s Labs will be in focus as the US Federal Court has imposed $5 million penalty for distributing prescription drugs in blister packs that were not child resistant.
India’s largest passenger car maker, Maruti Suzuki India Limited (MSIL) announced that it would launch four products (cars) over the next 12–18 months.
Wipro posted 11.85% quarter-on-quarter fall in consolidated net profit at Rs1,930 cr for the quarter ended December 31, 2017. It had posted a net profit of Rs2,189.6cr in the corresponding quarter last year.
NMDC aims to produce about 45 million tonnes of iron ore during the next financial year as against the expected 35 million tonnes in the current fiscal, as per media reports.
Coal India has earned a premium of 66% from sale of coal in the spot markets so far in the current year as the state-run monopoly slashed the quantity allocated to the power sector in spot auctions while increasing supplies to non-power sectors.
Parag Milk Foods is expecting a dip in revenue growth to up to 15% per annum over the next three years, and will focus on dairy FMCG products in this period.
DCM Shriram’s consolidated net profit in Q3 FY18 increased sharply 56% year-on-year to Rs212.9cr.
IFCI said the government was considering capital infusion of Rs100cr during the financial year 2017-18 to the company.
J Kumar Infraporjects has received letter of acceptance from Delhi Metro Rail Corp for architectural finishing works of eight stations of line 2A on Dahisar (East) to DN Nagar corridor of Mumbai Metro Rail project with a total contract cost Rs56.965cr.