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Top Ten Stocks to be Focused for 12 May 2016

Top Ten Stocks to be Focused for 12 May 2016

The Indian market is expected to open flat on Thursday tracking muted trend seen in other Asian markets.

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

Cairn India: Hit hard by the retrospective tax, Cairn Energy plc of UK has offered to pay 15 per cent of the Rs 10,247 crore principal amount in return for government lifting freeze on the 9.8 per cent shares it holds in its erstwhile subsidiary, Cairn IndiaBSE 0.85 %.

Banking stocks will be in focus after the Rajya Sabha on Wednesday gave its assent to the new bankruptcy code, almost a week later after it was passed by the lower house of the Parliament. A robust bankruptcy framework could help resolve NPL cases in a more effective and speedy manner, experts say.

Apollo Tyres: Apollo TyresBSE -1.56 % reported 20.26 per cent rise decline in its consolidated net profit at Rs 245.16 crore for the fourth quarter ended March 31, hit by import of Chinese tyres into the country.

Havells India: Electrical goods maker Havells IndiaBSE 0.62 % reported three-fold jump in standalone net profit at Rs 366.49 crore for the quarter ended March, 31 on account of revenue and profitability growth.

Wipro: IT major WiproBSE 0.57 % announced a strategic partnership with software vendor Etiya to enable communication service providers deliver digital services.

Tata Steel Ltd: Tata Steel’s UK assets have attracted interest from Hebei Iron & Steel Group as the company shortlists bidders for the money-losing assets, said a media report.

TVS Srichakra Ltd: Leading two-wheeler tyre maker TVS SrichakraBSE 2.47 % Ltd has posted 51 per cent increase in its net profit at Rs 51.44 crore for the fourth quarter ended March 31, 2016, when compared with Rs 34.03 crore a year-ago period.

Jubilant Life Sciences: The company on Wednesday said its wholly-owned subsidiary and Australia-based Cyclopharm have mutually called off their previously announced term sheet for exclusive commercial rights of Technegas in the US market.

Dr Reddy’s Laboratories: The pharma major is expected to report 11.1 per cent YoY growth in net profit to Rs 576 crore for the quarter ended March 31, compared to Rs 519 crore reported in the year-ago period.

Nestle India: Nestle is expected to report 19.4 YoY drop in the net profit to Rs 258 crore for the quarter ended March 31compared to Rs 320 crore reported in the year-ago period.

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