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Top Stocks to be Focused for 24 April 2017

Top Stocks to be Focused for 24 April 2017

Reliance Industries: Oil-to-telecom conglomerate Reliance IndustriesBSE 0.95 % will announce its financial results for the quarter ended March 31, 2017 on Monday.

UltraTech BSE 2.91 % Cement: The company will also announce its results for the quarter ended March 31, 2017 later in the day. For the previous quarter ended December 31, 2016, UltraTech Cement reported 6.71 per cent year-on-year fall in net profit at Rs 563.42 crore against Rs 527.97 crore in the same quarter last year.

L&T Finance: The company has finalised plans to sell its mutual fund business. The financial services firm of engineering-to-software conglomerate Larsen & Toubro, which had initially planned to sell a minority stake in L&T Mutual Fund, is now scouting for buyers to take over the asset management company, said two people familiar with the development.

Ballarpur Industries: Gautam Thapar-controlled Ballarpur IndustriesBSE 0.51 % (BILT) is in talks with Chinese giant Nine Dragons Paper Group to sell its Malaysian forest arm, Sabah Forest Industries, in a $350million deal, said three people with direct knowledge of the matter. Reviving efforts to divest what was once a crown jewel is yet another attempt by the company to deleverage the BILT balance sheet.

Mahindra Lifespace BSE -1.29 % Developers: Realty firm Mahindra Lifespace DevelopersBSE -1.29 % reported a 64 per cent decline in its consolidated net profit at Rs 17.4 crore for the quarter ended March on higher expenses. Its net profit stood at Rs 48.51 crore in the year-ago period, the company said in a filing to the BSE.

ACC: Cement and ready mixed concrete producer ACCBSE 4.23 % on Friday reported a decline of 9.05 per cent in its consolidated net profit for the first quarter (Q1) of 2017. The company’s consolidated net profit decreased to Rs 211 crore from Rs 232 crore reported during the first quarter of last year.

Dalmia Bharat: Global private equity giant KKR on Friday sold 5.6 per cent stake in Dalmia Bharat for an estimated Rs 575 crore through an open market transaction. The shares were purchased by a host of entities, including Kuwait Investment Authority, Birla Mutual Fund and Franklin Templeton Investment Funds.

Gujarat Hotels: Net profit of Gujarat Hotels rose 62.50 per cent to Rs 1.43 crore in the quarter ended March 2017 as against Rs 0.88 crore during the previous quarter ended March 2016. Sales declined 2.22 per cent to Rs 0.88 crore in the quarter ended March 2017 as against Rs 0.90 crore during the previous quarter ended March 2016.

Capital First: Mumbai-based non-banking finance company Capital First is looking to raise $50 million from International Finance Corporation in five-year non-convertible debentures.

IDFC Bank: In one of the largest office leasing transactions so far this year, IDFC Bank has picked up an entire office building spread over 1.80 lakh sq ft on lease in K Raheja Corp’s mixed-use development Mindspace in Navi Mumbai’s Juinagar locality , said two persons familiar with the development.

TCS: Tata Consultancy ServicesBSE -0.05 % (TCS) recruited over 11,500 people outside India during 2016-17, including graduates from engineering and B-schools in the US, as it ramps up local hiring in offshore markets to tackle visa related challenges.

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