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Top Twelve Stocks in focus on Monday, 17 October 2016

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

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

SBI: State Bank of IndiaBSE 1.17 % Ltd (SBI) will divest up to 5 per cent of its stake in its life insurance subsidiary SBI Life Insurance Co. Ltd, the lender said in a filing to stock exchanges on Friday.

Crisil: Crisil Q2 net profit up 4 per cent on a year-on-year basis to Rs 79.8 crore for the quarter ended September compared with 76.8 crore reported in the year-ago period.

Cipla: Indian pharmaceutical major Cipla has signed a memorandum of agreement for South Africa’s first biosimilars manufacturing facility to be set up at a cost of nearly USD 91 million.

Alok Industries: Alok Industries will seek protection from lenders as its plays to approach BIFR on grounds that 50% of its net worth has been wiped out as on March 2016.

ICICI Bank: Rajiv Sabharwal the brain behind ICICI Bank’s flourishing retail lending business has called it quits and will be replaced by ICICI veteran Anup Bagchi.

DCB Bank: The bank reported 31.4 per cent year-on-year growth in the net profit to Rs 48.5 crore for the quarter ended September 30 compared with 36.9 crore reported in the year-ago period.

Canara Bank: Public sector Canara Bank on Friday said it will raise up to Rs 2,500 crore in one or more tranches by issuing Basel-III compliant bonds.

IOC, HPCL, BPCL: Petrol price was hiked by Rs 1.34 a litre, the fifth increase in two months, and diesel by Rs 2.37 a litre on back of spike in global rates.

Tata Steel: Tata Steel expects steel demand to bounce back in the second half of the fiscal year, led by segments like passenger vehicle sales, construction and rural homes, in what perhaps marks the first upbeat remark from a top manufacturer about the domestic steel market that has been sagging for a year and half.

NIIT Technologies: IT firm NIIT Technologies today posted a 9 per cent decline in consolidated net profit at Rs 58.9 crore for the quarter ended September 30, 2016.

DHFL: The Company is expected to report 15 per cent YoY growth in the net interest income to Rs 522 crore compared with Rs 454 crore reported in the year-ago period, ETNow poll said.

Amtek Auto: Rating agency ICRA has downgraded rating for term loans of JMT Auto, a unit of ailing Amtek Auto Ltd (AAL), to ‘BB-‘ from ‘BB+’, on adverse effect of the large-sized debt funded by foreign acquisitions.