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Top Stocks to be Focused for 18 April 2017

Top Stocks to be Focused for 18 April 2017

Gruh BSE 5.77 % Finance: Mortgage lender HDFC Ltd’s subsidiary Gruh FinanceBSE 5.77 % on Monday registered an increase of 25.7 per cent in its net profit at Rs 110.45 crore for the fourth quarter ended March 31, 2017. The company had reported net profit of Rs 87.82 crore during the January-March period of 2015-16.

TCS: Tata ConsultancyBSE -0.03 % Services (TCS) shareholders on Monday approved the company’s Rs 16,000-crore share buyback plan, the company said in a regulatory filing on BSE on Monday. The IT major will announce its financial results for the quarter ended March 31, 2017 later in the day.

Suzlon Energy: Suzlon Group has installed and commissioned 2 renewable projects of 50.40 mw each for NALCO at Gondikota in Andhra Pradesh and Jath in Maharashtra. Both the projects have the potential to provide power to over 54,000 households and reduce 0.20 million tonnes of CO2 emissions per annum.

Punjab National Bank BSE 1.32 % and Bank of Baroda: The government is working on a road map for the overhaul of state-run lenders that involves the next round of consolidation, public offers in the next few months by banks to raise fresh capital, and changes in the hiring policy, including increased lateral entry. This could see Punjab National Bank (PNB) and Bank of BarodaBSE 1.17 % taking over smaller lenders, said a senior finance ministry official.

Religare Enterprises: Daiichi Sankyo has objected to Religare Enterprises’ decision to sell its stake in Religare Health Insurance, a move the Japanese company claims violates a Delhi High Court order in its legal tussle against former RanbaxyBSE 5.63 % promoters Malvinder and Shivinder Singh.

Nestle India: The company has contested the Rajasthan food regulator’s reported finding that its Cerelac Wheat infant food failed the quality parameter of “total protein“ and it has asked for proceedings against the company to be dropped.

Vakrangee Limited: The Board of Directors of Vakrangee Limited has approved to provide the services of GST Registration, filing of returns, payment and other value added services thereunder through Vakrangee Kendra Outlets.

Earnings today: VST IndustriesBSE 0.50 % and Muthoot Capital ServicesBSE 1.18 % will announce their financial results for the quarter ended March 31, 2017 on Tuesday.

CMI Ltd: CMI said that its board of directors on April 17 approved the allotment of 2.5 lakh equity shares having face value Rs 10 each at a premium of Rs 290 per share to promoter/promoter group.

Tata Group Companies: The National Company Law Tribunal (NCLT) dismissed a petition by two firms belonging to Cyrus Mistry’s family, seeking waiver of an eligibility condition for moving the forum against Tata Sons. An NCLT bench of B S V Prakash Kumar and V Nallasenapathy said, “The waiver is dismissed, the company petition
dismissed.”

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