Top stocks in focus on Tuesday, 22 August 2017

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

NEW DELHI: Domestic equity markets are likely to open on a negative note on Tuesday, tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues.

SGX Nifty was down 67.50 points, or 0.69 per cent, at 9,782 around 7.50 am (IST), indicating a negative start for NSE Nifty index.

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

Cadila HealthcareBSE -0.42 %, Torrent Pharma: The domestic pharmaceuticals sector may be set for a shake-up as Ahmedabad headquartered CadilaBSE -0.42 % Healthcare led by Pankaj Patel and the Mehta family backed Torrent PharmaceuticalsBSE -0.60 % are re-evaluating a potential merger between both the companies, multiple sources familiar with ongoing negotiations told ET NOW on the condition of anonymity.

Westlife Development: ​ Amit Jatia, the vice chairman of Hardcastle Restaurants Pvt Ltd (HPRL)– owned by Westlife Development– is the front-runner to get the rights to operate the US chain’s restaurants in the North and East as well. jatia has the master franchise for McDonald’s in West and South India for about two decades.

ONGCBSE 0.86 %, HPCL: The board of state-owned Oil and Natural GasBSE 0.86 % Corp (ONGC) on Monday gave ‘in-principle’ approval to acquire government’s 51.11 per cent stake in Hindustan PetroleumBSE 3.41 % Corp (HPCLBSE 3.41 %), the company said in a regulatory filing.

Bharti Airtel: India’s biggest mobile phone company Bharti AirtelBSE 0.21 % is in advanced talks with handset makers to introduce a 4G smartphone in the lead up to Diwali for about Rs 2,500, bundling large amounts of data and voice minutes with the device to take the battle to Reliance Jio for retaining a share of the mass market.

Coal India: The company’s management has said it cannot afford the extent of salary hike its unions are asking because its fund position would not permit. Unions, however, are not ready to accept this, creating a standoff with the management at the last three-day meeting which ended inconclusively on Saturday.

AurobindoBSE 1.61 % Pharma: The drugmaker has received tentative approval from the USFDA for dolutegravir, lamivudine and tenofovir disoproxil fumarate tablets, used for the treatment of HIV, in the US market. Aurobindo PharmaBSE 1.61 % said the triple combination product is expected to be launched in sub-Saharan Africa in the third quarter of this fiscal.

IHCL: The board of directors of Indian Hotels CompanyBSE -1.12 % Limited (IHCL) which runs the Taj group of hotels have approved the issuing of equity shares by way of a rights issue to the existing shareholders of the company for raising capital around Rs 1500 crore.

Usha Martin: The Usha Martin board has not decided on raising funds at its weekend meeting after the National Company Law Tribunal (NCLT) ordered the company Friday to leave its shareholding unchanged.

Dena Bank: Public sector Dena BankBSE 0.32 % has cut interest rate on savings account deposits up to Rs 25 lakh by 0.5 per cent to 3.50 per cent. Those having deposits over Rs 25 lakh in their savings bank accounts will continue to get the existing interest of 4 per cent.

[“Source-economictimes”]