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Top Stocks to be Focused for 14 June 2017

ONGC: ONGC and the Directorate General of Hydrocarbons (DGH), the upstream oil and gas regulator, have told an official probe panel that they had no prior knowledge that the reservoirs of the state-run company and Reliance Industries in KG Basin were connected, three people aware of the development told ET.

Wipro: The country’s third largest software services firm Wipro has invested $809,690 (about Rs 5.12 crore) in management and IT consulting firm Drivestream. The cash consideration will see Wipro acquiring 19,679 preferred stocks and 27,865 common stocks, Wipro said in a BSE filing.

Dr Reddy’s Laboratories: The company on Tuesday informed bourses that its API manufacturing plant at Miryalaguda has received an EIR from the USFDA.

Endurance Technologies: Global financial services firm Citi has initiated coverage of Endurance Technologies with ‘Neutral’ rating and set a target price at Rs 925 per share. “The company will benefit from 2-wheeler and 3-wheeler growth in India,” Citi said. Shares of the company were at Rs 882.90 on Tuesday.

ICICI Bank: Private sector lender ICICI Bank on Tuesday increased its authorised capital by Rs 775 crore to Rs 2,500 crore. “The authorised capital of the company shall be Rs 2,500 crore divided in to 1000 crore equity shares of Rs 2 each, Rs 150,00,000 shares of Rs 100 each and 350 shares of Rs 100,00,000 crore each with rights privileges and conditions attached thereto…,” the company said in a regulatory filing.

Multi Commodity Exchange (MCX): MCX will remain in focus as Sebi on Tuesday allowed options trading in commodities for deepening the market but permitted each exchange to launch these contracts for only one product initially, while asking bourses to follow robust risk management measures.

Ashok Leyland: Ashok Leyland allotted 80.7 million equity shares to equity shareholders of Hinduja FoundriesBSE 0.68 %.

Mahindra & Mahindra: The company said that its board of directors at a meeting held on June 13, approved sale of a part of its shareholding in Mahindra Logistics (MLL), a subsidiary of the company, as part of the proposed initial public offer (IPO) of MLL, subject to requisite approvals and market conditions. The size of the stake sale, price and other details of the IPO will be determined in due course by a Committee of Directors.

Shriram Transport FinanceBSE -1.41 % Company: The company announced that the allotment committee of non-convertible debentures (NCDs) of the company approved and allotted 9,650 secured, redeemable, rated, listed, of face value of Rs 10 lakh each, aggregating to Rs 965 crore on private placement basis.

Greaves Cotton: The company and Pinnacle Engines Inc US, on Tuesday announced a technology partnership for the launch of Opposed Piston Petrol/ CNG lean burn BSVI- compliant engine for 3-wheelers in India.

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