Top stocks in focus on 04 January 2018

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NEW DELHI: Domestic equity markets are likely to see a flat to positive start on Thursday, tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and global cues.

At 8.12 am, Nifty futures trading on SGX were trading 19.50 points, or 0.19 per cent, higher at 10,498.50, indicating a positive start for the Nifty50.

Here is a list of top stocks that are likely to be in focus in today’s trading session:

JP Associates: The Reserve Bank of India has ordered banks not to initiate bankruptcy proceedings against Jaiprakash Associates, possibly in anticipation of legal complications after a Supreme Court ruling barred its promoters from selling or transferring assets, said bank executives. The ruling was aimed at safeguarding the interests of buyers of homes being built by the company.

Navkar Corporation: Ashish Kacholia bought 10 lakh shares or 0.7 per cent stake in Navkar Corporation on Wednesday, bulk deal data on the NSE website showed. Kacholia bought the shares at Rs 187 apiece.

NBCC: The company secured Rs 314.77-crore business orders in December, which included a contract for construction of border fence and road along Indo-Bangladesh border in Meghalaya amounting Rs 215.77 crore at a PMC fees of 7.0 per cent.

Tata Motors, Greaves Cotton: Tata Motors and Greaves Cotton entered into agreements with foreign companies to develop and supply less-polluting engines, as India’s automotive industry is preparing itself to meet the Bharat Stage-VI (BSVI) emission standards before they come into effect two years from now.

Idea Cellular: Idea CellularBSE 1.76 %, India’s third-biggest telecom services company, may raise up to ₹5,600 crore for debt reduction in a rights or preferential share issue to its current promoters, the Aditya Birla Group (ABG), brokerage JM Financial said.

SJVN: The company has announced a share buyback proposal. SJVNBSE 11.59 %’s board will consider the proposal on January 8.

Infibeam Incorporation: The company is anticipating a significant revenue boost after the business-to-business ecommerce platform, as part of a consortium, secured a contract to manage the government’s eMarketplace (GeM)—among the largest government IT contracts in recent times.

Infosys: As Salil Parekh took charge as CEO at Infosys, former CFO V Balakrishnan has sought restructuring of the board by replacing ex-co-chairman Ravi Venkatesan and ex-audit committee chairperson Roopa Kudva.

Bank of India: The Board of Bank of India at its meeting held on 03 January 2018 has approved the proposal of raising equity capital up to Rs 650 crore by way of preferential allotment in favour of Government of India.

Lakshmi Vikas Bank: Lakshmi Vilas BankBSE -0.64 % announced that the capital raising committee has approved the allotment of 6,39,87,006 equity shares of Rs 10 each at a price of Rs 122 per equity share aggregating to Rs 780.64 crore issued on a rights basis.

AurionproBSE 7.37 % Solutions: The company said that its subsidiary Cyberinc has entered into a definitive agreement with KPMG LLP, USA, for sale of its Identity and Access Management (IAM) business. The transaction is expected to close on January 31.

KM Sugar Mills: The company has sold its 7.30 crore number of equity shares (73% stake holding) of KM Energy, subsidiary of the Company. KM Energy ceases to be subsidiary of the company.

Adhunik Metaliks: Kolkata-based Adhunik Group has received about 15 to 20 separate expressions of interest (EoIs) collectively for its four struggling resources and metals companies that now await the resolution of ₹5,000 crore in debt and claims at dedicated insolvency courts.

[“Source-economictimes”]