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    Stocks in focus on April 20, 2018

    Synopsis

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

    Stocks in news: TCS, Fortis Healthcare and NTPC
    NEW DELHI: The domestic equity market is likely to see a negative start on Friday, tracking Nifty on Singapore Stock Exchange (SGX) and weak global cues. At 07:59 am, the Nifty futures of SGX were trading 28 points or 0.26 per cent lower at 10,560.

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

    NTPC: India's biggest power producer NTPC has decided to exit the joint venture with BHEL, saying it is not a manufacturer of equipment and would rather concentrate on setting up and operating power plants. NTPC-BHEL Power Projects was set up in December 2007 as a 50:50 joint venture for manufacturing power equipment.

    TCS: IT bellwether TCS on Thursday posted 5.71 per cent quarter-on-quarter and 4.48 per cent year-on-year rise in consolidated net profit at Rs 6,904 crore for the March quarter. Consolidated total income of the company increased 4 per cent QoQ and 7.93 per cent YoY to Rs 33,069 crore in Q4FY18.

    Earnings today: Indiabulls Housing Finance and Sasken Technologies are some of the notable names which are likely to report their March quarter results on Friday. Shares of Indiabulls Housing Finance ended unchanged at Rs 1368.25 apiece on Thursday while those of Sasken Tech ended nearly 1 per cent higher at Rs 744.65.

    GMR Infra: The GMR Group’s promoter holding company is seeking to restructure a portion of its Rs 4,000-crore debt liability as the Bengaluru-based infrastructure firm seeks flexibility in balance sheet to meet future capital requirements of its businesses.

    Idea Cellular, Aditya Birla Nuvo: The Aditya Birla Group will sell a minority stake of anywhere between 15 per cent and 20 per cent in its Idea Payments Bank to raise about Rs 200 crore, seeking a valuation of Rs 1,000 crore for the two-month-old venture, two people with direct knowledge of the plan said. The payments bank, in which group companies Idea Cellular and Aditya Birla Nuvo own 51 per cent and 49 per cent, respectively, will use the money to expand its operations.

    Cyient: The Hyderabad-based company on Thursday reported a 16.2 per cent rise in March quarter at Rs 121.5 crore. Its revenue increased 12.8 per cent to Rs 1,061.8 crore in the said quarter against Rs 941 crore in the year-ago period.

    ICICI Bank: Amid the clamour over the conflict of interest allegations at ICICI Bank, its board has dug its heels in and defended chief executive Chanda Kochhar yet again, rejecting demands for an external audit to inspect whether correct processes were followed while giving loans to Videocon Industries.

    Phoenix Mills: Motilal Oswal has initiated coverage on Phoenix Mills with a ‘buy’ rating and a target price of Rs 732. The brokerage said the company is a unique way to play India’s retail growth story and is positive on the company due to its strong operational performance, scalability and robust cash generation. It expects the company to record a CAGR of 15 per cent in revenue, 16 per cent in EBITDA and 37 per cent in PAT between FY18 and FY20. The stock ended up 3.6 per cent at Rs 627.10 on Thursday.

    Fortis Healthcare: The company's board is setting up an expert advisory committee under the leadership of Deepak Kapoor, former India CEO of PwC, to assess the binding bids for the company. This means nonbinding offers will not be considered, a setback for Malaysia’s IHH and China’s Fosun. They had both submitted nonbinding offers and sought time to conduct due diligence. Two binding offers have been submitted — by TPG-backed Manipal Hospital and the Munjal-Burman family offices.

    Hathway Cable: Kenneth Andrade-owned Old Bridge Capital Management on Thursday bought 1.6 crore shares of Hathway Cable & Datacom, which represents 2 per cent stake in the company, bulk deal data on the BSE showed.



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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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