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Top stocks in focus on Monday, 9 May 2017

Top stocks in focus on Monday, 9 May 2017

Bharti Infratel: Bharti Infratel on Monday logged a 17 per cent fall in its consolidated net profit at about Rs 596.6 crore for the quarter ended March 2017 as against the year- ago period, pulled down by higher operating expenses. Net profit of the company stood at Rs 718.4 crore in the same quarter last year.

Torrent Pharmaceuticals: The pharma company has completed the acquisition of Regestrone and Pregachieve brands in India from Swiss drug major NovartisBSE 1.90 % AG. The two brands are widely prescribed by gynaecologists for the management of abnormal uterine bleeding, post menopausal symptoms and infertility, Torrent said in a regulatory filing.

Havells: Electrical products maker HavellsBSE 0.09 % on Monday said it has completed the Rs 1,600-crore acquisition of consumer durable business of Lloyd ElectricBSE 1.33 % & Engineering. The acquisition, paving way for the Noida-based company to foray into the consumer durables segment, has been financed through internal accruals and cash balances, Havells said.

Eros: Eros International MediaBSE 2.84 % announced that it signed a significant television syndication deal with Zee, a leading Indian global television network, for a slate of its forthcoming releases this year, including Sarkar 3, Munna Michael and Shubh Mangal Savdhaan. The announcement was made after market hours yesterday, 8 May 2017.

CMI Ltd: CMI has been awarded an order worth Rs 36.24 crore by Gujarat Energy Transmission Corporation for supply of 66 KV XLPE cables. The order is revenue accretive and will be delivered within two quarters of 2017-18.

S Chand and Company: Textbooks publisher S Chand and Company, which successfully closed its initial public offer (IPO) late last month, is set to make its stock market debut on Tuesday.

AkzoBSE 0.01 % Nobel: Dutch paint maker Akzo NobelBSE 0.01 % on Monday rejected a third takeover proposal from PPG Industries, leaving its larger US rival to decide whether to make a formal bid without the support of Akzo’s board, or throw in the towel. PPG’s third offer values Akzo at 26.3 billion ($28.8 billion) including debt but the Dutch firm, which makes Dulux paint, said it was too low, faced antitrust risks and failed to address concerns such as “cultural differences”.

Eros: Eros International MediaBSE 2.84 % announced that it signed a significant television syndication deal with Zee, a leading Indian global television network, for a slate of its forthcoming releases this year, including Sarkar 3, Munna Michael and Shubh Mangal Savdhaan. The announcement was made after market hours yesterday, 8 May 2017.

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