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Top Ten Stocks to be Focused for 17 Oct 2016

Top Ten Stocks to be Focused for 17 Oct 2016

SBI: State Bank of IndiaBSE 1.37 % Ltd (SBI) will divest up to 5 per cent of its stake in its life insurance subsidiary SBI Life Insurance Co. Ltd, the lender said in a filing to stock exchanges on Friday.

Crisil: Crisil Q2 net profit up 4 per cent on a year-on-year basis to Rs 79.8 crore for the quarter ended September compared with 76.8 crore reported in the year-ago period.

Cipla: Indian pharmaceutical major Cipla has signed a memorandum of agreement for South Africa’s first biosimilars manufacturing facility to be set up at a cost of nearly USD 91 million.

Alok Industries: Alok Industries will seek protection from lenders as its plays to approach BIFR on grounds that 50% of its net worth has been wiped out as on March 2016.

ICICI Bank: Rajiv Sabharwal the brain behind ICICI Bank’s flourishing retail lending business has called it quits and will be replaced by ICICI veteran Anup Bagchi.

DCB Bank: The bank reported 31.4 per cent year-on-year growth in the net profit to Rs 48.5 crore for the quarter ended September 30 compared with 36.9 crore reported in the year-ago period.

Canara Bank: Public sector Canara Bank on Friday said it will raise up to Rs 2,500 crore in one or more tranches by issuing Basel-III compliant bonds.

IOC, HPCL, BPCL: Petrol price was hiked by Rs 1.34 a litre, the fifth increase in two months, and diesel by Rs 2.37 a litre on back of spike in global rates.

Maruti Suzuki: Car market leader Car market leader Maruti Suzuki is focusing attention on a new business that has shown exponential growth in the past five years. The company’s spares and accessories business has grown at a CAGR of 19.3% in the last five years with FY15-16 showing nearly 19% growth.

DHFL: The Company is expected to report 15 per cent YoY growth in the net interest income to Rs 522 crore compared with Rs 454 crore reported in the year-ago period, ETNow poll said.

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