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Top Twelve Stocks in Focus on Wednesday, 28 September 2016

The Indian market is expected to open flat on Wednesday tracking muted trend seen in other Asian markets.

Here is a list of Top Twelve Stocks that are likely to be in focus today

Infosys: Infosys dismissed suggestions that the company’s founders interfered in the administration of a severance contract with its former chief financial officer though it declined to give specifics on whether the severance payments were stopped.

Dilip Buildcon: The National Highways Authority of India (NHAI) has awarded four laning of 127 km of national highway stretch between Lucknow and Sultanpur to Dilip Buildcon. The project would be constructed at the cost of Rs 2,845 crore.

Max India : Max India Ltd said it has received shareholders’ approval for amalgamation of Max Life Insurance Company with Max Financial Services as also the demerger of insurance business for transfer to HDFC Standard Life Insurance Company.

Cipla: Cipla, ranked third in the $17-billion Indian pharmaceutical market after Sun Pharma and Abbott, is setting its eyes on reaching a billion dollar sales mark, backed by new drug launches from its own research labs and a slew of partnerships with multinational and Indian drug firm.

Jet Airways: Jet Airways is forming an extensive transatlantic venture with Air France-KLM and US carrier Delta Air Lines, as the now-profitable Indian airline charts its own global expansion plans exclusive of those in alliance with its powerful shareholder partner, Etihad Airways.

Motherson Sumi: Reserve Bank has allowed foreign investors to hike their stake in Motherson Sumi Systems to up to 30 percent from 24 percent earlier.

Balaji Telefilms: Balaji Telefilms announced that the Board of Directors of the Company at its meeting held on 27 September 2016 has considered and approved a composite scheme of arrangement between the Company and its wholly owned subsidiaries viz. Balaji Motion Pictures and Bolt Media and their respective shareholders and creditors.

Ahluwalia Contracts (India) Ltd : The company received letter to stop construction of International Convention Centre and Police Headquarter Bhawan, Patna.

PTC India: IDFC Mutual Fund has reduced its stake in PTC India Ltd from over 5 per cent to 3 per cent. Additionally, PTC India Financial Services said that it may consider raising funds on a private placement basis.

Coal India: Coal India’s buyback offer will open next week on October 3 and would remain open till October 18. The company plans to buy back 1.7 per cent (10.89 crore) fully paid up equity shares at Rs 335 per share totalling Rs 3,650 crore.

Emami: Nomura has downgraded shares of Emami to ‘neutral’ from ‘buy’ as it believes the 20% rise in stock price year to date captures positives for the company.

Karur Vysya Bank Ltd: Karur Vysya Bank seeks members’ nod for sub divison of shares in 1:5 ratio.

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