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Twelve Stocks in Focus on Friday, 26 August 2016

The Indian market is expected to open higher on Friday tracking positive trend seen in other Asian markets.

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

SBI & ICICI Bank: The Reserve Bank of India on Thursday retained the tag of “too big to fail” banks for SBI and ICICI second year in a row. This means that the banking regulator considers failure of these banks to be dangerous for the economy, which renders them ‘too big to fail’.

Union Bank of India: Public sector lender Union Bank of India plans to raise Rs 750 crore by issuing Basel III-compliant bonds.

Tata Communications Ltd: Eyeing 40 per cent annual growth in cloud operations, Tata Communications is planning to set up necessary storage infrastructure in countries of operations to win over the local business by addressing its concerns on overseas data storage.

Bank of Baroda: Shrinking loan portfolio and deposit base squeezed total business of state-owned Bank of Baroda (BoB) by nearly Rs 90,000 crore in 2015-16 despite a robust GDP growth of 7.6 per cent during the fiscal.

Havells India: Havells India plans to invest Rs 300 crore in the current financial year in expansion of its manufacturing base and is considering diversifying into various consumer electronics businesses including water purifiers and personal grooming, its chairman Anil Rai Gupta said.

Allcargo Logistics: Allcargo group Thursday announced a consolidation of its contract logistics business into a new entity, Avvashya CCI Logistics Private Limited is a joint venture between three business entities: the warehousing division of CCI Logistics Ltd, Hindustan Cargo Ltd and the Contract Logistics Division of Allcargo Logistics.

Gammon Infra: The company reported Rs 5.9 crore for the quarter ended June 30 compared with Rs 6 crore reported in the year-ago period.

J Kumar Infraprojects: The company said Mumbai Metro Rail Corporation Ltd (MMRC) has issued LOA (letter of award) to J Kumar-CRTG’s joint venture for Rs 5,012 crore projects.

InterGlobe Aviation Ltd: InterGlobe Aviation Ltd has informed BSE that the 13th Annual General Meeting (AGM) of the Company will be held on September 21, 2016 to seek shareholder nod to raise borrowing limit Rs 20k crore.

Biocon: The European Medicines Agency (EMA) has accepted for review Biocon and Mylan’s Marketing Authorization Application (MAA) for a proposed biosimilar Trastuzumab, used to treat certain breast and gastric cancers.

Spice Mobility Ltd: Spice Mobility informed BSE that Spice Digital Limited (SDL), a subsidiary of the Company, has divested its entire equity stake constituting 26% of share capital in Vavia Technologies Private Limited (Vavia) pursuant to a Share Purchase Agreement entered into by them. Consequent to this, Vavia has ceased to be an associate of the Company.

Nalco: Aluminium maker Nalco’s Rs 2,835 crore offer to buyback 64.43 crore shares will open on August 30. The public sector undertaking today submitted the copy of public announcement and the letter of offer for the shareholders to the stock exchanges.

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