Friday 20 January 2017

Top 16 stocks in focus today: Motherson Sumi Systems, Axis Bank, Mindtree

Motherson Sumi Systems: The company has agreed to buy Finnish truck wire maker PKC Group for 571 million euros ($609 million).

Bharti Airtel: The company's Chairman Sunil Mittal said the telecom major is in talks with Telenor for acquiring the Norwegian company’s spectrum in India.

Cement stocks in focus: The Competition Commission of India has imposed an aggregate penalty of Rs 206 crore on seven cement companies.

Orient Green Power: The company has entered into an exclusivity period of 90 days to evaluate a potential merger of the wind energy assets with IL&FS Wind Energy.

Cadila Healthcare: The pharma company has acquired Sentynl Therapeutics Inc, a U.S. based specialty pharmaceutical firm.

Gallantt Ispat: Gallantt Ispat reported 14% rise in net profit at Rs 9.3 crore for the quarter ended December 31, 2016 against Rs 8.2 crore in the corresponding quarter last year.

Alembic Ltd: The company reported a net profit of Rs 0.68 crore for the quarter ended December 31, 2016 against net loss of Rs 3.91 crore in the same quarter last year.

Mindtree: Mindtree's net profit stood at Rs 103.1 crore, impacted by currency movement, seasonality of business and lower profitability from its Bluefin and Magnet 360 business. The Bengaluru-based firm had posted a net profit of Rs 94.8 crore in the corresponding quarter last year.

GMR Infrastruture: The company's unit Delhi International Airport Ltd issues project to develop retail assets at the Delhi airport to Bharti Realty Holdings. The transaction involves upfront payments of Rs 315 crore.

Zuari Global: The company's unit Indian Furniture Products and Poland's Forte set up joint venture for manufacturing and distribution of furniture for the Indian market.

Adani Ports & Special Economic Zone: The company has raised $500 million by allotment of fixed rate senior unsecured notes.

Quick Heal: The company has chosen Dell EMC’s market-leading XtremIO all-flash storage array to help accelerate its virtual machine environment to support the expansion of its enterprise security business.

Jindal Stainless: The company is seeking shareholders’ approval to allot certain shares shares on preferential basis to 31 banks and financial institutions.

Idea Cellular: The company's board meeting on January 23 to approve third-quarter results has been postponed.

State Bank of Mysore: The bank will raise Rs 1,000 crore as Basel III compliant additional tier 1 bonds.

MEP Infra: The company's unit gets contract from the National Highways Authority of India (NHAI) for four laning of a road in Nagpur.

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