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    Fifteen stocks in focus on Thursday, 29 June 2017

    Synopsis

    Eris Lifesciences will make BSE debut today. Arvind will be in focus on brokerage upgrade.

    ETMarkets.com
    Domestic equity markets are likely to open on a flat note on Thursday following Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues.

    SGX Nifty was up 3 points, or 0.03 per cent, at 9,505 around 8 am (IST), indicating a soft start for NSE Nifty index.

    Wall Street advanced on Wednesday, with the S&P 500 registering its biggest one-day percentage gain in around two months. The Dow Jones Industrial Average added 143.95 points, or 0.68 per cent, to 21,454.61, while the Nasdaq Composite gained 87.79 points, or 1.43 per cent, to 6,234.41.

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

    ITC: Diversified ITC is seeking nod from its shareholders for additional remuneration of its Non- Executive Chairman Y C Deveshwar that includes a monthly salary of Rs 1 crore among others.

    UCO Bank: State run lender UCO Bank, which is planning to raise Rs 3,000 crore capital in the current fiscal, is hoping to turn profitable in the next financial year, an official said on Wednesday.

    Rashtriya Chemicals and Fertilisers: The government will sell over 2.75 crore equity shares in Rashtriya Chemicals and Fertilisers (RCF) on June 29-30 for about Rs 200 crore as part of its plan to divest shares in PSUs. The government currently holds 80 per cent stake in RCF and will offload 5 per cent through the Offer for Sale (OFS) route.

    Axis Bank: Private sector lender Axis Bank has raised Rs 3,500 crore by issuing debt securities on a private placement basis.

    Eris Lifesciences: Shares of the company are set to debut on the stock market on Thursday after concluding its initial public offer last week. The company’s IPO was oversubscribed 3.29 times during June 16-20.

    Fortis Healthcare: Fortis Healthcare on Wednesday said its shareholders have approved increasing shareholding limit for foreign institutional investors to up to 74 per cent from 24 per cent at present.

    Mindtree: Mid-sized IT firm Mindtree on Wednesday said its Board has approved a buyback plan of Rs 270 crore. The company will buy back up to 43.2 lakh shares, comprising 2.5 per cent of the total paid up equity share capital at a price of up to Rs 625 per equity share, the company said in a regulatory filing.

    Arvind Ltd: Global brokerage firm Credit Suisse maintained ‘Outperform’ on Arvind Ltd with a target price of Rs 450.

    Eicher Motors: HSBC raised target price of Eicher Motors to Rs 30,500 per share from Rs 26,400 per share.

    IDBI Bank: The finance ministry has told the Prime Minister's Office that the revival of state run IDBI Bank will take a while longer, said people with knowledge of the matter. The PMO had written to the finance ministry seeking a progress report.

    SpiceJet: With the arrival of the monsoon season, major domestic airlines have announced special fares starting as low as Rs 699. Budget passenger carrier SpiceJet on Wednesday announced a “Mega Monsoon Sale” with one-way all inclusive fares starting at Rs 699.

    Godrej Industries: The company will sell shares in the initial public offer (IPO) of its group firm Godrej Agrovet to raise up to Rs 400 crore. Godrej Industries owns 60.8 per cent in Agrovet, which is in businesses such as agri-inputs, animal feeds, palm oil manufacturing, dairy and poultry.

    Bharat Forge, Sona Koyo: Domestic strategic buyers, including Bharat Forge and Sona Koyo Systems, are competing with bulge-bracket private equity funds such as Blackstone Group, KKR and DA Capital to acquire all or part of Amtek Group’s businesses in what could add up to $1billion in deals. Lenders to the debt-laden group are looking to auction the units off to get their money back.

    Corporation Bank: State-owned Corporation Bank on Wednesday said it has got shareholders’ nod for raising up to Rs 3,500 crore through share sale.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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