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Top stocks in focus today: Tech Mahindra, Biocon, Polaris Consulting, MOIL

Tech Mahindra reported 12.8% quarter-on-quarter rise in consolidated profit at Rs943cr for the quarter ended December 31, 2017. Revenue in Indian Rupee terms grew by 2.2% qoq to Rs7,776cr against consensus estimate of Rs7,766cr.

Welspun Corp had received orders for 232,000MT pipes. This represents ~22% increase in the order book. With these new orders, the order book now stands at 1,279,000MT pipes and is valued at ~Rs8,200cr.

Asahi India Glass has launched a new shade under its SunShield range of heat reflective glasses-AIS SunShield Royal Gold, as per media report.

Inox Leisure reported an over three-fold increase in consolidated net profit at Rs13.19cr for the third quarter ended December 31.

Biocon and Mylan N.V.’s jointly developed biosimilar drug Semglee, or insulin glargine, has come a step closer to receiving the European Medicines Agency’s nod after an advisory body of the regulator recommended the drug for approval.

Ester Industries has entered into a long-term agreement with US-based Shaw Industries Group Inc, a wholly-owned subsidiary of Berkshire Hathaway Inc.

GAIL India has started pipeline construction work in West Bengal for providing gas supply to Matix Fertilizers, Durgapur.

GSS Infotech says Aspire Emerging Fund has bought 360,000 shares or 2.1% stake in The company at Rs34.50 per share, through a bulk deal on BSE.

HCL Technologies has received a five-year order from UK-based Cadent, a gas distribution network, for information technology infrastructure services.

INOX Leisure approved the acquisition of 50% stake of Swanston Multiplex Cinemas for up to Rs300,000.

Polaris Consulting acquisition window for delisting from Jan 30 to Feb 5.

Birlasoft anKPIT Technologies will merge together to create a $700 mn company, which will then split into two publicly-traded companies, as per media report.

Snowman Logistics inaugurated new warehouse in Andhra Pradesh.

Prakash Industries has allotted 16lakh shares on conversion of FCCBs.

MOIL to consider buyback of equity shares on Feb 5. The company has a cash balance of Rs2,425cr and can buyback maximum Rs724cr. The last buyback that MOIL did was in previous fiscal.

Rushil Decor started commercial production of WPC Boards at Karnataka facility.

India Nippon board approves 2:1 stock split.