Stocks in focus on April 09, 2018

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NEW DELHI: The domestic equity market is likely to see a negative opening on Monday, tracking weak global cues. At 08:25 am, the Nifty50 futures of SGX were trading 45.50 points or 0.44 per cent lower at 10,296.50.

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

Binani Industries: Binani Industries has decided to move the Supreme Court with an appeal to redeem the pledge of its assets in debt-ridden subsidiary Binani Cements from its lenders and will also submit 10 per cent of the offer to prove its commitment. Redeeming the pledge will mean seeking an end to the bankruptcy proceedings against it from the National Company Law Tribunal (NCLT).

ICICI Bank: Some directors on the board of ICICI Bank are likely to meet soon to discuss the way ahead for chief executive officer Chanda Kochhar following new information from investigating agencies about business dealings between her husband Deepak Kochhar and Videocon Group, said two people familiar with the matter.

HDFC: The country’s largest mortgage lender Housing Development FinanceNSE 0.57 %Corp. (HDFC) is in advanced talks to acquire Apollo Munich Health Insurance Co. for an approximate valuation of Rs 1,000 crore, said an ET report. Apollo Munich is a joint venture between Chennai-based Apollo Hospitals promoted by Prathap C Reddy and his family and Munich Re. It is the second largest standalone health insurance provider in the country, with a 1.08 per cent market share after Star Health.

Tata Chemicals: Tata Chemicals on Sunday said it has signed a pact with Allied Silica Limited to acquire its precipitated silica business for Rs123 crore on a slump sale basis. The deal is expected to be closed within three months, the company said in a release. The acquisition is a part of the Rs 295 crore investment approved by the board in February last year, towards this specialty business, the company said.

Titan: Titan Company on Friday released its pre-quarterly update for Q4FY18. The release mentioned that its jewelry segment saw mid-teen retail sales growth during the quarter. The division is benefitted immensely from the expansion of its gold-exchange program, which has, along with weddings, contributed significantly to new customer addition. Division also saw average ticket-size expansion.

Tata Group stocks: The board of Tata Sons, holding company of the diversified conglomerate, will discuss various mergers and acquisitions (M&A) plans of the Tata group, especially with regard to debt it will be running up, said two people with direct knowledge of the development. Directors of Tata Sons, which will provide the primary guarantee for any funding that’s needed, have sought more information from the group’s new M&A team on two key transactions, sources familiar to the matter said. This includes the divestment of Tata Teleservices’ consumer mobile business to Bharti Airtel and bids to purchase bankrupt Bhushan SteelNSE 0.11 % and Bhushan Power and Steel under the insolvency resolution process.

Lemon Tree Hotels: Hospitality chain Lemon Tree Hotels is slated to list its shares on the bourses today. The company’s Rs 1,038.68 crore initial public offer (IPO), which was open for subscription from March 26-March 28, was subscribed 1.19 times. The price band of the offer was fixed between Rs 54 and Rs 56 per equity share.

Wipro: India’s third largest software services firm Wipro on Friday sold 63 per cent of its stake in Wipro Airport IT to Antariksh Softtech in a Rs 3.15 crore deal. Wipro Airport IT Services is a joint venture (JV) between Wipro (74 per cent) and Delhi International Airport Ltd or DIAL that held 26 per cent stake. It provides various IT services at the Indira Gandhi International Airport in New Delhi.

RCom: Reliance Communications’ plans to sell its remaining telecom assets worth $1.5 billion to Sistema JSFC could hit a hurdle, people aware of the development told ET, saying the Russian conglomerate is now reluctant to buy Global Cloud Exchange (GCX), RCom’s overseas arm that holds subsea cables, on the grounds that the cable systems are old with a limited residual life.

Inox Wind: The company has won 100 MW order For Solar Energy Corp Of India Project. The stock on Friday settled at Rs 115.65 apiece, down 0.22 per cent.