Eleven stocks in focus on Friday, 10 March 2017

Domestic equity markets are likely to open in green on Friday following Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues.

With exit polls projecting strong gains for the BJP in the state elections in Uttar Pradesh, Uttarakhand, Goa and the northeastern state of Manipur, Dalal Street was euphoric on Thursday evening, with some analysts saying the benchmark indices might see a rally to new highs in Friday’s trade.

G Chokkalingam, Founder of Equinomics Research and Advisory, said the Sensex might see a 300-400 points spurt in morning trade on Friday, but added that the rally may fizzle out soon.

Asian peers Hang Seng and Nikkei were trading higher by 0.19 per cent and 1.28 per cent, respectively, in morning trade, while Shanghai was down 0.10 per cent.

Here is a list of eleven stocks that are likely to be in focus today:

Trident: Trident on Thursday announced that the ‘Cotton Egypt Association’ has accredited the company with its coveted ‘Gold Seal’ for its bed linen products. This is in addition to the same ‘Egyptian Gold Seal’ certificate received by the company in January this year for its yarn and terry towel portfolio.

Hindalco: Aditya Birla Group firm Hindalco Industries on Thursday raised Rs 3,350 crore through issuance of shares to qualified institutional buyers (QIBs). “The Capital Raising Committee...approved the issue and allotment of 17,68,27,659 equity shares to qualified institutional buyers at the issue price of Rs 189.45 per equity share, (including a premium of Rs 188.45 per equity share)," Hindalco Industries said in a filing to BSE.

Tata Motors: Automobile giant Tata Motors Group on Thursday reported a rise of three per cent in its global wholesales for last month. “Tata Motors Group global wholesales in February 2017, including Jaguar Land Rover, were at 103,064 numbers, higher by 3 per cent over February 2016," the company said in a statement.

IndusInd Bank: IndusInd Bank, a bancassurance partner for Cholamandalam General Insurance and Religare Health Insurance, plans to start its own general insurance firm, said two people close to the development. The bank, led by Romesh Sobti, plans to make general insurance products and not just be a distributor.

Aurobindo Pharma: Goldman Sachs maintained ‘Buy’ on Aurobindo Pharma with a target price of Rs 934. The global investment bank forecasted 19 per cent EBITDA growth over next 2 years versus peers' 12 per cent. The scrip was at Rs 658.25 on Thursday.

ICICI Bank: The public sector lender has approved proposal for fund raising by way of issuance of basel III compliant unsecured subordinated perpetual additional tier 1 bonds.

Varun Beverages: The company has divested 41 per cent stake in Mozambique subsidiary, Varun Beverages Mozambique Limitada.

Manappuram Finance, Muthoot Finance: Non-Banking Finance Companies (NBFCs) cannot lend more than Rs 20,000 in cash against gold, the Reserve Bank said on Thursday.

Bharti Airtel, Idea Cellular: Telecom tribunal TDSAT reserved its order on an interim appeal seeking a stay on Reliance Jio's free promotional offer. The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) reserved its order after hearing all the parties concerned including regulator TRAI, incumbant operators Bharti Airtel and Idea Cellular, and Reliance Jio.