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Top Ten Stocks to be Focused for 29 Sept 2016

Top Ten Stocks to be Focused for 29 Sept 2016

ICICI Prudential: ICICI Prudential Life Insurance, which recently concluded its Rs 6,057-crore IPO, will make its stock market debut on Thursday, becoming the first insurer to list. The company’s public issue was oversubscribed 10 times.

Delta Corp: India’s largest and only listed casino operator, is betting big on inorganic growth. Shortly after acquiring the country’s largest poker website adda52, ET Now learns Delta Corp is in exploratory talks to buy out a rummy website for approximately $80-100 mn.

Infosys: Software major Infosys Ltd on Wednesday unveiled a mobile first and modular platform to drive e-commerce programmes across retail channels.

Hindustan Copper: The government will sell a 7 per cent stake in state-run miner Hindustan Copper Ltd through a two-day offer for sale (OFS) beginning Thursday, the firm said.

Tata Steel: Industrial and commodity group Liberty House’s bid for Tata Steel UK’s speciality steel and pipe businesses is worth nearly 100 million pounds ($130 million), an industry source told Reuters on Wednesday.

Inditrade Capital: Inditrade Capital, formally known as JRG Securities, has taken an in principle decision to increase its existing shareholding in JRG International Brokerage DMCC (JRG DMCC), a company registered with the Dubai Multi Commodities Centre.

Max Ventures & Industries: Max Venture part of the $2 billion Max Group, has been authorised by shareholders to borrow up to Rs 300 crore. The authorisation was given to the company at its first annual general meeting, which was held on Tuesday.

CEAT: Singapore-based fund management company Amansa Holding Pte has increased its stake in tyre major Ceat to over 5 per cent by acquiring 1.17 per cent stake through secondary market purchase.

Cipla: India’s third-largest drugmaker by revenue, has decided to trim its ballooning employee cost by freezing increments of 300-400 of its top managers as part of the company’s operational revamp.

Kotak Mahindra Bank: Dutch lender ING Group NV is selling a part of its stake in private sector Kotak Mahindra Bank to raise up to $550 million (Rs 3,654 crore) close to two years after exiting the business in India as it seeks to repatriate capital to its home market.

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