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Top Stocks to be Focused for 24 March 2017

Top Stocks to be Focused for 24 March 2017

YES Bank: Six months after aborting an earlier attempt, private sector lender Yes Bank on Thursday said it will be hitting the market with qualified institutional placement (QIP) again, aiming to raise $650 million.

BPCL: Oil marketing company Bharat Petroleum Corporation LtdBSE -1.09 % (BPCL) on Thursday declared second interim special dividend of Rs 12 per equity share of face value Rs 10 each for the financial year 2016-17. The announcement was made after market hours on March 23.

UCO Bank, IDBI BankBSE -0.46 %, IOB: The Reserve Bank has put four public sector lenders, including IDBI Bank and Indian Overseas BankBSE 0.75 %, under watch and advised them to stay off risky assets so that their financial health is not stressed further. While UCO Bank also figures in the list, the name of the fourth lender could not be immediately ascertained.

Lupin: Drug major LupinBSE -0.28 % has received approval from the US health regulator to market a generic version of NovartisBSE -0.16 %’ inhalation product Tobi, which is used to treat cystic fibrosis, in the American market.

Siemens: Siemens LtdBSE 0.60 % on Thursday announced that it has won an order worth around Rs 187.4 crore from Bangladesh Rural ElectrificationBSE 3.69 % Board (BREB), Dhaka.

Majesco: The company on Thursday announced that a tier one insurer has selected Majesco following an extensive evaluation as their strategic partner for the multiyear modernisation program.

Bharti Airtel: Telecom major Bharti AirtelBSE 1.06 % on Thursday said it will acquire 4G business of Tikona Networks, including broadband spectrum and 350 sites across 5 circles, for about Rs 1,600 crore.

Idea Cellular: The valuation of the merged Vodafone India-Idea Celullar entity is likely more around Rs 160 a share, 23 per cent higher than the Rs 130 a unit price that the UK telco has agreed to sell its shares at to the Aditya Birla Group, after accounting for all the operational synergies, said a Vodafone official.

Reliance Infrastructure: Anil Ambani-led Reliance Infrastructure has emerged as the lowest bidder for a 800 crore highway construction job in Tamil Nadu, people close to the development told ET.

Adani Power: Adani Power said it has allotted 1.73 crore equity shares upon partial conversion of the convertible warrants as earlier allotted on preferential basis to promoter group entities. The shares were allotted at Rs 32.54 per share. Subsequent to this allotment, the shareholding of the promoter and promoter group has increased to 68.08 per cent of the enhanced paid up equity share capital of the company.

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