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Top Stocks to be Focused for 06 June 2017

ICICI Bank: Private player ICICI Bank on Monday said it will sell a part of its stake in joint-venture firm ICICI Lombard General Insurance Company Ltd through an Initial Public Offer.

Adani Power: The board of Adani PowerBSE 0.93 % will meet on Tuesday to consider hiving off its flagship Mundra power station to a new subsidiary in which a Gujarat government entity may take a majority stake.

CadilaBSE 2.11 % Healthcare: Drug firm Cadila HealthcareBSE 2.11 % has received Establishment Inspection Report (EIR) from the US health regulator for its Baddi facility in Himachal Pradesh. The United States Food and Drug Administration (USFDA) had earlier given three observations under Form 483 after the inspection of the facility.

SBI: Country’s largest lender State Bank of IndiaBSE 0.75 % (SBI) on Monday opened share sale through private placement at Rs 287.58 apiece to raise Rs 11,000 crore. This is part of plans to garner Rs 15,000 crore capital from markets in the current fiscal.

ITC: ITCBSE -2.06 % would sell premium fruits and vegetables and pricey processed foods, competing directly with existing retailers and newage grocers such as Amazon Fresh, hastening its transformation into one of India’s most diversified consumer companies from just the country’s biggest cigarette maker.

Power FinanceBSE 1.71 % Corporation: The company has offered a Rs 3,600-crore loan to four distribution companies of Uttar Pradesh to help them lay infrastructure for new connections. The three-year loan, the largest ever to be offered by the state-run financier to distribution companies, will help the state provide new connections to 11.4 lakh households in remote areas, PFC chairman Rajeev Sharma told ET.

Bharti Airtel: The telcom major is in talks with Google for deployment of WiFI hotspots for the US internet major’s station WiFi service in India, a move that can help India’s top telco improve broadband experience as it fights to retain, if not add, subscribers amid intense competition.

India Grid Trust: India Grid Trust, which recently concluded its Rs 2,250 crore initial public offering, is going to make its stock market debut on June 6.

Wipro : WiproBSE 1.56 % issued clarification to the stock exchanges regarding media news item titled “Wipro promoters in early stage of evaluating sale of part or whole business.” The company said that the news article is baseless and malicious. There is no truth to these unsubstantiated rumours, it added.

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