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Top Stocks to be Focused for 21 March 2017

Top Stocks to be Focused for 21 March 2017

HCL Technologies: IT major HCL TechnologiesBSE 0.21 % on Monday said its board has approved a buyback of up to 3.50 crore shares worth Rs 3,500 crore.

PVR: PVR Cinemas, India’s largest multiplex chain, will be spending Rs 15 crore on 10 Virtual Reality (VR) lounges across some of its properties in India. While it has kicked off its first VR Lounge in Noida on Monday, the company is planning to open similar lounges in Mumbai, Delhi and a couple of South IndianBSE 0.00 % cities over the next 6 to 8 months.

State Bank of India: SBI, which has board approval to raise Rs 15,000 crore through multiple routes, on Monday said it will be hitting the overseas debt market with a $1.5 billion dollar bond sale in the next financial year.

Avenue Supermarts: Avenue Supermarts, the owner and operator of supermarket retail chain D-Mart, will list its shares on bourses on Tuesday. The IPO, the biggest since PNBBSE 0.14 % Housing Finance’s Rs 3,000 crore offer in October last year, was subscribed more than 104 times earlier this month.

Engineers India: The company on Monday said its board has approved a buyback of over four crore equity shares worth Rs 658.80 crore.

Oil India: Oil India LtdBSE -0.63 %, the nation’s second largest state explorer, said it will buy back 4.49 crore shares for Rs 1,527 crore, joining the list of PSUs that are using their idle cash to help government meet budgetary targets.

Idea Cellular: Vodafone India and Idea CellularBSE -3.89 % on Monday agreed to merge their operations to create the country’s largest mobile phone operator worth more than $23 billion with a 35 per cent market share.

Bharti Airtel: Telecom operator Reliance Jio has approached advertisement sector watchdog ASCI against Bharti Airtel saying the latter’s claim of being “officially the fastest network” is “misleading” and done in ” “mala fide manner in collusion with” broadband speed tester Ookla.

Unichem Labs: The company’s formulation manufacturing facility at Goa was inspected by USFDA from March 14 to March 20, 2017. There were few observations made, and these in the opinion of the company are correctable ones in respect to which the company will file the necessary response within the stipulated period of 15 working days. The observations do not impact business continuity and and the company’s supplies to the US market.

Divi’s Laboratories: Shares of the company nosedived 20 per cent in Tuesday’s trade after the company informed stock exchanges that US drug regulator has issued an Import Alert 66-40 on the products manufactured at the company’s Unit-II at Visakhapatnam, Andhra Pradesh.

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