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Top Stocks to be Focused for 10 May 2017

Top Stocks to be Focused for 10 May 2017

Bharti Airtel: Country’s largest telecom firm Bharti AirtelBSE 2.98 % on Tuesday post market hours reported its lowest quarterly profit in four years as net earnings fell 72 per cent in January-March, hit by “sustained predatory pricing” by rival Reliance Jio. The net profit in the quarter ended March 2017 stood at Rs 373.4 crore, nearly a fourth of the Rs 1,319.2 crore notched in the year-ago period.

InterGlobe Aviation: IndiGo’s parent InterGlobe Aviation saw its profit slump 25 per cent to Rs 440.31 crore in the three months ended March 2017 as steep rise in fuel costs trimmed the bottom line even as revenues rose. Its profit after tax stood at Rs 583.78 crore in the January-March period of 2016.

Jubilant LifeBSE 2.36 % Sciences: The company on Tuesday said it has restarted its manufacturing operations at Gajraula in Uttar Pradesh, except distillery unit. The revenue impact of the distillery operations in FY- 2017 is not significant, the company said in a BSE filing.

State Bank of India: Country’s largest lender SBI on Tuesday said it plans to raise funds through followon public offer and institutional placement in the current fiscal and has sought applications from merchant bankers for managing the issue.

Infosys: InfosysBSE 0.05 % could hand out pink slips to hundreds of mid- and senior-level employees as it carries out bi-annual performance review amid a challenging business environment. The development comes at a time when its peers WiproBSE -0.86 % and Cognizant are taking similar measures to control costs.

Piramal Enterprises: The company is planning to raise up to Rs 4,000 crore by selling shares to institutional investors as the diversified company looks to fuel growth in its financial services business, according to two people familiar with the matter.

Earnings today: Hero MotoCorpBSE 0.31 %, Dalmia Bharat, Endurance Technologies and Zee EntertainmentBSE 1.75 % will announce their financial results for the quarter ended March 31, 2017.

Blue Star: Air conditioner maker Blue Star has reported over two-fold increase in consolidated net profit at Rs 37.17 crore for the fourth quarter ended March 31. The company had registered a net profit of Rs 15.01 crore in January-March period a year ago.

Videocon Industries: Dena Bank has become the first lender to classify Videocon Industries as a bad loan potentially opening a can of worms for the rest of the banking sector which is already plagued by rising stressed assets.

Biocon: USFDA has issued form 483 dated April 7 to Biocon Bangalore facility.

Lupin: Drug major Lupin clarified to the media news after market hours on Tuesday. The company said that recently its Aurangabad facility underwent an inspection by the US Food and Drug Administration (USFDA). The inspection was completed on April 26, 2017, subsequent to which, the USFDA issued Form 483 citing eight observations. The company is in the midst of putting together a response to address the observations.

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