Top stocks in focus on 13 March 2018

NEW DELHI: Domestic market is likely to see a flat opening on Tuesday, tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and global cues. Nifty futures on the Singapore Stock Exchange were trading 13 points, or 0.12 per cent, lower at 10,419, 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.

Infosys: The IT major plans to voluntarily delist its American Depositary Shares from Euronext Paris and Euronext London exchanges, as the low average daily trading volume was not commensurate with the related administrative requirements.

NBCC: State-owned construction firm said that no charges have been established against its CMD Anoop Kumar Mittal as allegations against him were not corroborated during the CBI investigation.


InterGlobe Aviation: India grounded 11Airbus 320neo planes of IndiGo and GoAir with immediate effect after occurrences of aborted take-offs and inflight shutdowns involving these aircraft, powered by Pratt & Whitney (P&W) engines. Grounding of the aircraft fitted with PW1100 engines was done keeping in mind the safety of aircraft operations, the Directorate General of Civil Aviation said in a statement on Monday.

Videcon Industries: Financially distressed Videocon Group may give up India rights for two global brands — Philips in the TV business and Electrolux in appliances — after being unable to sustain production without working capital, which has caused a steep decline in sales, three senior industry officials said.

Bata India: Sebi has directed Bata on Monday 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.

Bharti Airtel: The company has approved a plan to raise about Rs 16,500 crore through debt, including a fresh issue of $1 billion in overseas bonds, to help refinance loans and pay for spectrum, boosting the telco’s shares by almost 5 per cent.

ACC, Ambuja Cements: Having put their merger on hold, ACC Ltd and Ambuja Cements — the two Indian units of LafargeHolcim — on Monday said they plan to enter into a ‘master supply agreement’ with each other. The agreement is for supply of cement, clinker and raw materials such as fuels, fly ash, slag and gypsum. This would also include spare parts.

Mahindra & Mahindra: Automobile major Mahindra & Mahindra has bought two floors in its own corporate headquarters Mahindra Towers in Mumbai’s Worli locality from a group company of Gautam Singhania’s Raymond Group.

Eicher Motors: Eicher Polaris, an equal joint venture between homegrown Eicher Motors and US-based Polaris Industries for personal utility vehicle space, has decided to shut down its operations with immediate effect.

Fortis Healthcare: Yes Bank has become the biggest shareholder of Fortis Healthcare with a 17.31 per cent stake in India’s second-largest hospital chain, giving the private lender a possibly decisive role in an impending takeover battle. The company’s promoters, Malvinder and Shivinder Singh, who are engaged in a legal battle with Japanese pharmaceutical major Daiichi Sankyo, now own less than 1 per cent in the company — 0.77 per cent to be precise.

SBI: State Bank of India (SBI) is likely to drag five Kolkata-based companies, including Burnpur Cement and four Patni group entities, to the National Company Law Tribunal for insolvency proceedings over Rs 3,250 crore in unpaid loans.

Larsen & Toubro: L&T Special Steels and Heavy Forgings Private, a joint venture of Larsen & Toubro and the state-run Nuclear Power Corporation of India, has received an order worth 442 crore from NPCIL to supply forgings for steam generators, the engineering major said.

BHEL: State-run power equipment maker BHEL on Monday said it has bagged an order worth Rs 736 crore from Nuclear Power Corporation of India (NPCIL) for the supply of steam generators to a plant at Gorakhpur in Fatehabad district of Haryana. The order has been received against competitive bidding, a BHEL statement.

IPO WATCH
Bharat Dynamics: The Rs 960-crore initial public offering (IPO) by mini-ratna Bharat Dynamics will kick off on Tuesday.The government intends to offload 2.25 crore shares (12.27 per cent stake in the offer for sale (OFS) in Rs 413-428 range. The retail investors and employees will be offered a discount of Rs 10 per share in the issue that closes on March 15.