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Top Stocks to be Focused for 23 May 2017

Tata Power: The company on Monday said total generation from all its power plants crossed 52,000 million units last fiscal. Its consolidated generation through all subsidiaries stood at 52,512 million units (MUs) in 2016-17 as compared to 47,347 MUs in the previous fiscal.

Bharti Airtel, Idea Cellular: Reliance Jio has filed a complaint with the telecom ministry alleging that incumbents Bharti Airtel, Vodafone and Idea did not deposit requisite licence fee in March, which led to a potential loss of Rs 400 crore to the government.

Kotak Mahindra Bank: Kotak Mahindra Bank founder Uday Kotak sold 1.80 crore of the bank’s shares in the open market, enabling him to comply with the Reserve Bank of India direction to reduce his stake in the private sector lender to less than 30 per cent.

PTC India Financial ServicesBSE 0.86 % (PFS): The company has reported a 124 per cent rise in standalone net profit to Rs 110 crore for fourth quarter ended March 2017. The company’s profit after tax or net profit during similar quarter of previous fiscal was at Rs 49 crore.

Den Networks: Broadcasting and cable TV service provider Den NetworksBSE -9.60 % on Monday reported narrowing of consolidated net loss at Rs 60.55 crore for the fourth quarter ended March 31. The company had posted consolidated net loss of Rs 210.30 crore in the January-March quarter of the previous fiscal, Den Networks said in a BSE filing.

Ruchira Papers: Kraft Paper manufacturer Ruchira PapersBSE -3.29 % reported an over two-fold jump in net profit at Rs 9.26 crore for the March quarter. The company had reported a net profit at Rs 4.03 crore in the corresponding quarter of last fiscal, Ruchira Papers said in a statement.

Karnataka Bank: Country’s largest insurer LIC has inked a pact with private sector Karnataka BankBSE -1.50 % to sell its insurance policies at the latter’s branches. An agreement was signed on Monday between Life Corporation of India (LIC) and the bank for selling life insurance products of the former, Karnataka Bank said in a statement.

Corporation Bank: Public sector lender Corporation BankBSE -1.59 % said its board has approved plans to raise capital up to Rs 3,500 crore.

Earnings today: Tata MotorsBSE -0.61 %, Jindal Steel and PowerBSE -1.14 % (JSPL), Subros, Sahara One Media & Entertainment, Jubilant LifeBSE -2.10 %, Kolte Patil and ION ExchangeBSE -0.84 % will announce their financial results for the quarter ended March 31, 2017 on Tuesday.

IDBI Bank: Two major unions — All India Bank Employees’ Association (AIBEA) and All India Bank Officers’ Association (AIBOA) — will chalk out separate agitation and strike programmes in support of early wage revision in IDBI Bank, the unions said. Employees of IDBI Bank will strike work on Tuesday demanding wage revision.

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