Top stocks in focus on 07 March 2018

NEW DELHI: Domestic market is likely to see a flat to positive opening on Wednesday, tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and global cues. Nifty futures on the Singapore Stock Exchange were trading 13.50 points, or 0.13 per cent, higher at 10,245.50, indicating a flat start for the Nifty50 on Dalal Street. Here is a list of top stocks that are likely to be in focus in today's trading session.

Union Bank: Union Bank of India plans to offload 26 large stressed accounts amounting to nearly Rs 5,900 crore, including some large power projects and metals companies. Among those on the list are GMR Chattisgarh Energy, Prayagraj Power, Alok Industries, Gammon India and Lavasa Corporation.

Indian Hotels Company: The Taj Group or Indian Hotels Company (IHCL) has stated that Tata Sons will be acquiring up to 6.64 per cent shares of the company from three promoter entities as part of restructuring the investment portfolio.


UltraTech Cement: After the Dalmia Bharat Group won Binani Cement in a closely fought and multi-cornered battle for the debt-laden buildings material company, market leader UltraTech on Tuesday approached the bankruptcy court to seek a more transparent way of evaluating the bids “that maximise value for all stakeholders”. Meanwhile, the RBI has increased the limit of foreign portfolio investment (FPI) in the company to 40 per cent.

Bank of Baroda: The lender may have to provide for a potential loss of Rs 120 crore on loans to the Gupta family companies in South Africa after the brothers, who are facing corruption charges, fled the country and the companies filed for bankruptcy. The development gains significance in the backdrop of the bank’s plan to exit the country by closing its operations at the end of this financial year.

Tata Motors: The Securities and Exchange Board of India (Sebi) has directed Tata Motors to conduct an inquiry into the leak of price-sensitive financial information. The regulator has asked the company to take action against those responsible for the leak and strengthen its internal processes.
Reliance Communications: The telecom operator has moved the Bombay High Court against an arbitration order passed a day before that had “restrained” the telco from selling or transferring its assets without its permission.

Electrosteel Steels: Abhishek Dalmia’s Renaissance Group, which had submitted a bid for Electrosteel Steels (ESL), has filed a petition in NCLT, requesting the bankruptcy court to not allow the resolution professional (RP) to negotiate with bidders until the eligibility of two prospective acquirers of the debt-laden alloy maker is determined.

Jubilant FoodWorks: The company, which operates US quick service brands Domino’s Pizza and Dunkin Donuts in India, on Tuesday announced a joint venture with Golden Harvest QSR, part of the diversified Golden Harvest group with interests across food, dairy, logistics and commodities, to launch Domino’s Pizza in Bangladesh.

Bharti Airtel: The operator has acquired the India leg of Gulf Bridge International’s India-Middle East-Europe submarine cable system for an undisclosed sum that will help the Sunil Mittalled telecom operator address exploding data demand in key emerging markets across India, the Gulf and Africa.

ITC: FMCG major ITC said its Aashirvaad Atta has become a Rs 4,000-crore brand in the wheat flour market, with around 28 per cent share in the branded segment. The company as part of its expansion plans is also expanding brand Aashirvaad into new segments as milk and ghee in the dairy category, besides spices, instant mixes, ready meals etc. The company has extended Aashirwad brand into cow ghee and also launched Aashirwad milk last month in Munger, Bihar.