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Top Stocks to be Focused for 13 April 2017

Top Stocks to be Focused for 13 April 2017

Infosys: The IT major will announce its financial results for the quarter ended March 31, 2017 on Thursday. Industry watchers largely expect the company to post sequential revenue growth of around 1-1.5 per cent in constant currency terms. They also expect the company to give a conservative guidance.

Bajaj Corporation and Reliance Power: Bajaj Corporation and Reliance PowerBSE 0.52 % will also announce their financial results for the quarter ended March 31, 2017 on Thursday.

Essar Shipping: The company on Wednesday reported a strong operational performance in its cargo handling services during 2016-17. The company’s cargo handling services during the period under review grew by 22 per cent and fleet capacity utilisation surged to 94 per cent from 80 per cent reported for 2015-16.

Reliance Communications: Deutsche Bank has downgraded Reliance Communications shares to ‘Sell’ from ‘Hold’ and also cut the target price to Rs 30 from Rs 57. The global financial services firm believes that Reliance Communications competitive position has significantly weakened with Jio’s entry.

Heritage Foods: The company on Wednesday said it has completed acquisition of dairy business of Reliance Retail. “We have received approval from Competition Commission of India and completed the process of acquisition of dairy business of Reliance Retail,” Heritage Foods said in a BSE filing.

Lupin: Global brokerage house CLSA upgraded Lupin to ‘Buy’ from ‘Outperform’ and raised a target price to Rs 1,760 from Rs 1,650 earlier.

Cipla: Drug firm Cipla said its subsidiary in South Africa has completed the acquisition of Anmarate (Pty) Ltd, South Africa, a deal estimated at around ZAR 26 million.

Fortis Healthcare: Fortis Healthcare on Wednesday said two of its directors have resigned from the company. The two officials are Lynette Joy Hepburn Brown and Ravi Umesh Mehrotra. While Brown was the non-executive independent director, Mehrotra was holding the position of non-executive director in the company.

JSW Steel: Sajjan Jindal-led JSW Steel has raised $500 million (around Rs 3,234 crore) through an issue of fixed rated senior unsecured notes. “The company has raised USD 500 million by allotment of fixed rate senior unsecured notes,” JSW Steel said in a filing to BSE on Wednesday.

Reliance Communications: Deutsche Bank has downgraded Reliance Communications shares to ‘Sell’ from ‘Hold’ and also cut the target price to Rs 30 from Rs 57. The global financial services firm believes that Reliance Communications competitive position has significantly weakened with Jio’s entry.

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