Top stocks in focus on Friday, 18 August 2017

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

SGX Nifty was down 51 points, or 0.52 per cent, at 9,860 around 8.05 am (IST), indicating a negative start for NSE's Nifty index.

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

Reliance Capital: Reliance MF is likely to file DRHP for IPO on Friday. Axis Capital and CLSA are acting as bankers to the IPO.

Golden Tobacco Company: The cigarette manufacturer's nearly 8-acre land parcel, an earlier deal for which had landed the company’s chairman Sanjay Dalmia in jail, has been put on the block again, the third time the company is doing so. The land parcel near Mithibai College on SV Road in Mumbai’s western suburb Vile Parle is estimated to be valued at about Rs 1,000 crore with development potential of nearly 1million sq ft.

Pharma stocks: The government proposes to revamp the country's drug pricing regulator, allowing it to set prices of only essential medicines. The latest draft proposals suggest amendments to the drug pricing policy and inducting advisory body of experts in a move to strengthen the regulatory body, but at the same time may take away its absolute power to fix drug prices in public interest.

Bank of Baroda: Foreign brokerage HSBC has cut its price target for the stock to Rs 148 per share from ₹165 per share, while maintaining a ‘Hold’ rating on it. The brokerage has cuts FY18-20 PAT estimates for the lender by 50 per cent, 24 per cent and 33 per cent, respectively, on lower margins.

Dish TV: Foreign brokerage CLSA has cut its price target for the stock to Rs 97 from Rs 112 while maintaining a ‘buy’ rating on the scrip. The brokerage has lower FY18-19 EBITDA estimates by 10-11 per cent.

MCX: A report prepared by the MCX internal auditor, Mittal & Associates, said that in 2015-16 the exchange had parked funds in mutual fund schemes where it was not authorised to invest, and had foregone earnings by preferring to redeem investment just before a weekend or a public holiday and not renewing fixed deposits on time.

Emami: Emami Agrotech, a part of the diversified Emami group, is eyeing to generate a revenue of Rs 1000 crore from edible oil business in Bihar. Bihar stands at over 7000 tons per month in a time span of less than three years' time in terms of sales volume, Desai said.

Raymond: Textile major Raymond has acquired remaining 50 per cent stake in joint venture JK Ansell in an effort to scale up its consumer products business and take its key brand KamaSutra globally.

Infosys: The stock may stay on investors' radar ahead of the information technology firm's board meeting to consider a share buyback on Saturday.

HDFC: HDFC will sell 9.57 per cent holding in the insurance arm HDFC Standard Life Insurance Company, while its partner Standard Life will sell 5.43 per cent in the same. HDFC Life is likely offload 15 per cent of existing shares through its proposed initial public offering in the coming months.

PNB, HDFC Bank: Two leading lenders PNB and HDFC Bank have slashed interest rate on savings bank accounts by 50 basis points to 3.5 per cent on deposits up to Rs 50 lakh. Besides, PNB has also reduced interest rates on fixed deposits of less than Rs 1 crore by 15-40 basis points on select maturities.

Liquor stocks: More than half of some 30,000 liquor vends that downed shutters on April 1 after the Supreme Court banned sale and serving of alcohol within 500 metres of state and national highways still remain shut, keeping the booze industry under pressure.