Top Twelve Stocks in Focus on Tuesday, 23 August 2016
The Indian market is expected to open flat on Tuesday tracking mixed trend seen in other Asian markets
Here is a list of Top Twelve Stocks that are likely to be in focus today
Future Enterprises: Kishore Biyani-led Future Group is in early discussions with Aditya Birla Retail (ABRL) to buy or merge the latter’s More supermarket business to consolidate its leadership in the brick-and-mortar retail sector and to build a large network of stores that could be leveraged in alliance with ecommerce companies for multi-channel sale of food and groceries.
Pfizer: Pfizer Inc, beating out numerous other bidders, said it would buy U.S. cancer drug company Medivation Inc for $14 billion in cash, adding its blockbuster prostate cancer drug Xtandi to the company’s growing oncology roster.
Birla Corporation: Birla Corporation on Monday said it has completed acquisition of Anil Ambani’s cement business, a wholly-owned arm of flagship Reliance Infrastructure, for an enterprise valuation of about Rs 4,800 crore.
HPCL: Higher sales volume, stable refining margins and a substantial increase in inventory gains helped Hindustan Petroleum Corporation LtdBSE -3.10 % (HPCL) report a 30 per cent rise in its net profit for the first quarter of 2016-17.
Bharti Airtel: Reliance IndustriesBSE -0.23 %, India’s largest conglomerate, has asked its 40,000-plus employees to stop using phones connections of existing operators, like AirtelBSE -0.44 % and Vodafone, and instead switch to its own high-speed 4G Jio.
HDFC: Weeks after India’s largest mortgage lender sold out its first issuance of rupee-denominated debt to overseas buyers, it’s planning to raise another Rs 2,000 crore through the same route, underscoring a trend that’s gaining momentum.
SpiceJet: SpiceJet will start flights to Silchar and Aizawl from October as the budget airline looks to boost air connectivity in the North East region.
Shree Renuka Sugars Ltd : The company has posted a net profit of Rs.3.2 crore for the quarter ended June 30, 2016 as compared to net loss of Rs.150.2 crore for the quarter ended June 30, 2015.
MEP Infrastructure Developers Ltd : The company informed BSE that it has received the Letter of Acceptance (LOA) from NHAI informing that MEP has been engaged as the Contractor for the Project of 346.100 Kms in Jharkhand.
HealthCare Global Enterprises Ltd: India Build-Out Fund (IBOF), an SME-focused PE fund chasing deals in the education and healthcare space, sold a part of its stake in the recently listed cancer treatment hospital chain HealthCare Global Enterprises Ltd (HCG), said a media report.
SCI: With the shipping industry passing through a rough weather, which has led to a massive correction in vessel prices, state-run Shipping CorporationBSE 0.14 % has earmarked Rs 900 crore to lap up more vessels this year, a top official said.
ADCC Infocad : The open offer to the shareholders of ADCC Infocad from its promoters opens on Tuesday. The offer is made to consolidate promoters’ holding in the company for effective management control, said a media report.
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