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Top Stocks to be Focused for 03 May 2017

Marico: FMCG firm Marico on Tuesday reported a 25.50 per cent increase in consolidated net profit at Rs 170.91 crore for the fourth quarter ended March 31, 2017, led by volume growth in the domestic market. It had reported a net profit of Rs 136.18 crore in the January-March quarter a year-ago, Marico said in a BSE filing.

Inox Leisure: Multiplex operator Inox Leisure reported a multifold decline in consolidated net profit at Rs 34 lakh for the fourth quarter ended March 31, 2017. The company had posted a net profit of Rs 17.47 crore in the same period of the previous fiscal.

RBL Bank: Private lender RBL Bank on Tuesday posted 54.6 per cent jump in net profit at Rs 130.13 crore for the January-March quarter on healthy growth in interest income even as provisions for bad loans rose. The bank’s net profit in corresponding January-March quarter of preceding 2015-16 fiscal was at Rs 84.18 crore.

Infosys: IT firm InfosysBSE 0.46 % will hire 10,000 Americans in the next two years and open four centres in the US in a bid to woo the Trump administration, which has been critical of outsourcing firms for “unfairly” taking jobs away from US workers.

Bhushan Steel: A consortium of lenders tossed out Bhushan SteelBSE -0.48 %’s Rs 46,000-crore loan revamp plan as ‘unacceptable’ and directed it to redo the math as the current plan was loaded against the lenders even as company’s prospect was brightening, said three people familiar with the matter.

Earnings today: ICICI BankBSE -0.34 %, DHFL, TBZ, V-Mart and L&T Technology Services will announce their financial results for the quarter ended March 31, 2017 on Wednesday.

TVS Motor: The company reported an 8 per cent increase in total sales at 2,46,310 units in April. The Chennai-based company had sold 2,27,096 units in April 2016.

Vedanta: Crisil has upgraded its rating on the long-term bank facilities and debt instrument of Vedanta Limited to ‘AA/Stable’ from ‘AA-/Positive’.

Tata Steel: Tata Steel UK said it has completed the sale of its Speciality Steels business, which employs 1,700 workers, to Liberty House Group for 100 million pound. Liberty said it will not only protect the 1,700 existing jobs but also create 300 new ones and invest multi-million pounds in the venture.

DCB Bank: DCB Bank raised Rs 379 crore by selling shares to institutional investors. The bank sold 2.17-crore fresh equity shares through a qualified institutional placement (QIP) at Rs 174 each last week.

Tata Consultancy Services: TCS said it has been selected by one of Europe’s largest utilities companies – Vattenfall- to provide IT services across multiple European operations including Swedan, Germany and the Netherlands.

Wipro: The company said it has unveiled its new brand identity. The new brand identity signifies a higher level of engagement and brand permission that helps clients leverage Wipro’s expertise to address their business requirements and drive future opportunities in this digital era. As part of the new brand identity, Wipro unveiled a new logo.

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