Top Ten Stocks in Focus on Friday, 7 October 2016
The Indian market is expected to open flat-to-positive on Friday tracking mixed trend seen in other Asian markets.
Here is a list of Top Ten stocks that are likely to be in focus today
Tata Motors: Automobile manufacturer Tata has struck a deal with a major South African car hire company to supply Tata Bolt 1.2 Turbo hatchbacks for its national rental fleet.
UCO Bank: State-owned UCO Bank said it will sell 7.17 crore shares to LIC on a preferential basis, which may fetch about Rs 270 crore to the bank.
HDFC: Top mortgage lender HDFC LtdBSE -0.19 % will raise Rs 1,500 crore by issuing debt securities on a private placement basis. The secured non-convertible debentures (NCDs) will carry a coupon rate of 7.5 per cent per annum.
IDBI Bank: The government, looking to get state-run IDBI Bank’s stalled disinvestment plan moving again, has instructed the lender’s management to bring its stake down to 52 per cent.
ONGC: ONGC has signed a preliminary pact to acquire a stake and operate the KG Basin block of Gujarat State Petroleum Corp.(GSPC), which had announced a major natural gas discovery and spent $3 billion to develop it but hasn’t been able to start commercial production in the technically challenging field.
Tata Steel: Tata Steel has raised Rs 1,000 crore in a bond sale after a long time as it capitalises on the twin benefits of softening interest rates and improved profit margins due to slowing of Chinese dumping after punitive levies.
Aurobindo Pharma: The founders of Aurobindo Pharma are selling shares worth up to $135 million in a block trade on Friday, according to a deal term sheet seen by Reuters.
Orient Cement: The CK Birla group’s Orient Cement on Thursday said that it will acquire two cement assets of Japyee group for an enterprise value of Rs 1,950 crore.
Cadila Healthcare: The ZydusBSE -0.58 % group will market this therapy through Zydus Trans-immune, a division that offers a range of therapies related to transplant medicine, group firm Cadila Healthcare said in a filing to BSE.
Canara Bank: State-owned Canara Bank, Indian Bank and private sector Kotak Mahindra BankBSE -0.36 % cut lending rates by up to 0.1 per cent, following the 0.25 per cent repo rate cut by the RBI.