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Top Ten Stocks to be Focused for 17 August 2016

Top Ten Stocks to be Focused for 17 August 2016

Here is a list of top Ten stocks that are likely to be in focus today:

Piramal Enterprises: Ajay Piramal-promoted Piramal Enterprises said it has acquired United States-based Ash Stevens, a contract development and manufacturing company in an all-cash deal valued at nearly $43 million, in addition to an earn-out consideration capped at $10 million.

Cairn India: British explorer Cairn Energy plc said it has initiated an international arbitration to seek $5.6 billion in compensation from the Indian government in case a retrospective tax demand of Rs 29,047 crore is not quashed.

IT stocks will be in focus as the increase in short-term visa fees for professionals instituted by the US last December is likely to stay. Washington has informed New Delhi that reversing a decision that is part of its Omnibus Bill is not possible,

Greenply Industries Ltd: The company informed BSE that the QIP Committee of the Board of Directors of the Company at its meeting held on August 16, 2016, approved the issue and allotment of 19,45,525 Equity Shares of face value of Re.1 each to qualified institutional buyers at the issue price of Rs.257 per Equity Share, aggregating to Rs. 49,99,99,925.

Sun Pharma: Sun Pharmaceutical Industries today said Virtuous Finance, part of the promoter group has pledged one crore shares of the company amounting to 0.42 per cent stake to State Bank of IndiaBSE -0.59 %,

Wipro : Wipro on Tuesday said it has launched its Managed File Transfer as a Service (MFTaaS) platform on Microsoft Azure, said a media report.

Tata Power: The Tata Power CompanyBSE -0.33 % on Tuesday said its Singapore-based subsidiary, Tata Power International, has completed the sale for its 50 per cent stake in OTP Geothermal to KS Orka Renewables for $30 million.

OCL India: The company reported 96.3 per cent YoY growth in the net profit to Rs 106 crore for the quarter ended June 30compared with Rs 54 crore reported in the year-ago period.

Tayo Rolls Ltd: The Board of Directors of Tayo Rolls Ltd at their meeting held on August 08, 2016 have decided, subject to the approval of the shareholders through Postal Ballot and e-voting, to allot 64,00,000 Lakh Redeemable Preference Shares of Rs. 100 each totaling to Rs. 64 crore to the promoters of the Company, namely Tata Steel Limited on preferential basis.

Bharti Airtel: Indian telecom wars saw a broadside being fired by Reliance Jio Infocomm, which urged the regulator to take legal action against the country’s top phone companies for violating licence terms by not providing enough interconnection points to allow calls originating from the Mukesh Ambani-owned operator’s network to go through.

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