Top stocks in focus on 16 October 2017
ETMarkets.com|
Updated: Oct 16, 2017, 08.48 AM IST
NEW DELHI: Domestic equity markets are likely to open on a positive on Monday, tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and global cues.
At 8.15 am, Nifty futures trading on SGX were 42 points, or 0.41 per cent, higher at 10,253, indicating a firm start for NSE Nifty index. Here is a list of top stocks that are likely to be in focus in today's trading session.
IndusInd Bank, Bharat Financial: The two firms announced merger this past weekend. The share swap ratio looks favourable to the shareholders of Bharat Financial Inclusion (BFIL). Besides a premium over the current stock price, the merger is expected to improving return ratios by rationalising the cost structure of the microfinance company. For IndusInd Bank shareholders, however, it appears to be an expensive deal in the short term.
Avenue Supermarts: Avenue Supermarts, which runs the D-Mart supermarkets chain, posted a 65.18 per cent jump in its net profit at Rs 191.02 crore for the quarter ended September 30 on Saturday. The company had reported a net profit of Rs 115.64 crore in the corresponding quarter a year ago.
Godrej Agrovet: The stock will debut on stock exchanges on Monday after successfully concluding the initial public offer (IPO) last week. The Rs 1,157 crore IPO was a huge hit and oversubscribed 95.41 times during October 4-6. The portion meant for qualified institutional buyers was oversubscribed 150.96 times, non institutional investors 236.04 times and retail investors 7.67 times.
Future Enterprises: India's retailing pioneer Kishore Biyani may raise up to $400 million in the first sale of dollar bonds by a Future Group company to help fund premium grocer HyperCity's acquisition that symbolises increasing consolidation in the country's highstreet shopping business.
Hindalco Industries: Hindalco is gearing up to mount a bid for Aleris Corp. This follows failure of talks between China Zhongwang Holdings and the aluminium parts maker on heightened US security concerns, report Arijit Barman & Vatsala Gaur.
JSPL: The Naveen Jindal flagship has managed to repay its outstanding interest dues to lenders, using a large part of the proceeds of the Rs 1,211 crore sale of two of its oxygen plants to Srei Equipment Finance last week. JSPL, which had defaulted on interest payments, said it should soon come out of the Joint Lenders Forum (JLF).
IDBI Bank: IDBI Bank employees along with the members of various bank unions would hold a two day strike later this month demanding wage revision. The wage revision for employees and officers of IDBI Bank is due from November 1, 2012 to October 31, 2017 on the lines of settlement in all other banks, AIBEA General Secretary, CH Venkatachalam said in a statement.
Jewellery stocks: The demand for gold jewellery, considered the primary store of value in rural India, fell by 30 per cent in the run-up to Diwali due to untimely rains, lingering effects of DeMo, and a rise in bullion prices after GST.
Coal India: The government said Coal India has achieved production growth of 13 per cent in the current month so far. Coal Minister Piyush Goyal also announced the one-time advance payable to each employee would now be Rs 51,000 instead of Rs 40,000, before Diwali.
State Bank of India: The Odisha government's Directorate of Treasuries and Inspection and the State Bank of India (SBI) have signed an MOU for integration of SBI e-Pay with cyber treasury. The MoU will facilitate revenue collection from citizens through digital banking platform, an official said.
PSU banks: The finance ministry is working on capital infusion strategy for the public sector banks (PSBs) and it is expected to be finalised by December, according to official sources. The Department of Financial Services is assessing the capital needs of various banks based demands made by them, sources said.
At 8.15 am, Nifty futures trading on SGX were 42 points, or 0.41 per cent, higher at 10,253, indicating a firm start for NSE Nifty index. Here is a list of top stocks that are likely to be in focus in today's trading session.
IndusInd Bank, Bharat Financial: The two firms announced merger this past weekend. The share swap ratio looks favourable to the shareholders of Bharat Financial Inclusion (BFIL). Besides a premium over the current stock price, the merger is expected to improving return ratios by rationalising the cost structure of the microfinance company. For IndusInd Bank shareholders, however, it appears to be an expensive deal in the short term.
Avenue Supermarts: Avenue Supermarts, which runs the D-Mart supermarkets chain, posted a 65.18 per cent jump in its net profit at Rs 191.02 crore for the quarter ended September 30 on Saturday. The company had reported a net profit of Rs 115.64 crore in the corresponding quarter a year ago.
Godrej Agrovet: The stock will debut on stock exchanges on Monday after successfully concluding the initial public offer (IPO) last week. The Rs 1,157 crore IPO was a huge hit and oversubscribed 95.41 times during October 4-6. The portion meant for qualified institutional buyers was oversubscribed 150.96 times, non institutional investors 236.04 times and retail investors 7.67 times.
Future Enterprises: India's retailing pioneer Kishore Biyani may raise up to $400 million in the first sale of dollar bonds by a Future Group company to help fund premium grocer HyperCity's acquisition that symbolises increasing consolidation in the country's highstreet shopping business.
Hindalco Industries: Hindalco is gearing up to mount a bid for Aleris Corp. This follows failure of talks between China Zhongwang Holdings and the aluminium parts maker on heightened US security concerns, report Arijit Barman & Vatsala Gaur.
JSPL: The Naveen Jindal flagship has managed to repay its outstanding interest dues to lenders, using a large part of the proceeds of the Rs 1,211 crore sale of two of its oxygen plants to Srei Equipment Finance last week. JSPL, which had defaulted on interest payments, said it should soon come out of the Joint Lenders Forum (JLF).
IDBI Bank: IDBI Bank employees along with the members of various bank unions would hold a two day strike later this month demanding wage revision. The wage revision for employees and officers of IDBI Bank is due from November 1, 2012 to October 31, 2017 on the lines of settlement in all other banks, AIBEA General Secretary, CH Venkatachalam said in a statement.
Jewellery stocks: The demand for gold jewellery, considered the primary store of value in rural India, fell by 30 per cent in the run-up to Diwali due to untimely rains, lingering effects of DeMo, and a rise in bullion prices after GST.
Coal India: The government said Coal India has achieved production growth of 13 per cent in the current month so far. Coal Minister Piyush Goyal also announced the one-time advance payable to each employee would now be Rs 51,000 instead of Rs 40,000, before Diwali.
State Bank of India: The Odisha government's Directorate of Treasuries and Inspection and the State Bank of India (SBI) have signed an MOU for integration of SBI e-Pay with cyber treasury. The MoU will facilitate revenue collection from citizens through digital banking platform, an official said.
PSU banks: The finance ministry is working on capital infusion strategy for the public sector banks (PSBs) and it is expected to be finalised by December, according to official sources. The Department of Financial Services is assessing the capital needs of various banks based demands made by them, sources said.
