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Top Ten Stocks to be Focused for 13 May 2016

Top Ten Stocks to be Focused for 13 May 2016

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

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

Nestle India: The company reported a 19 per cent decline in net profit for the first quarter ended March 31, as it continued to be weighed down by the ban on its flagship instant noodles Maggi.

Glenmark Pharmaceuticals: The pharma major reported over 13-fold jump in consolidated net profit to Rs. 143.04 crore for the March quarter on the back of robust sales across all markets including the US, Europe and India.

ICICI Bank: The lender has significantly reduced its equity stake in both these subsidiaries from 11.8 per cent at the end of March 31, 2010, to 4.8 per cent at the end of FY16, said a media report.

Bank of Maharashtra: State-owned Bank of Maharashtra (BoM) posted a net loss of Rs 119.84 crore for the fourth quarter ended March 2016 due to rise in bad loans.

Reliance Power: The government has declined Anil Ambani-led Reliance Power’s request to let it mortgage coal blocks attached to Sasan Ultra Mega Power Project ( UMPP) in Madhya Pradesh to lenders of the plant that include banks from the US, China and Singapore, official sources said.

Dr Reddy’s LaboratoriesBSE -2.03 % Ltd: India’s second largest drugmaker Dr Reddy’s Laboratories Ltd is bracing for another challenging year in its biggest market, the United States, where its business has been hurt by regulatory scrutiny and fewer new drug approvals.

Sanofi India: Sanofi is recalling some batches of its painkiller Combiflam in India after the country’s drugs regulator found the lots were substandard, the French drugmaker’s local unit (SANO.NS) said on Thursday, said a media report.

Vijaya Bank: The bank reported a 26 per cent drop in net profit for the fourth quarter ended March 2016 at Rs. 71.31 crore on account of higher provisioning.

Central Bank of India: The bank informed BSE that the Board of Directors of the Bank allotted 7,15,04,945 equity shares to Government of India on preferential basis.

Hinduja Ventures Ltd: HVL reported a decline of 20.30 per cent in standalone net profit to Rs 14.17 crore for the fourth quarter ended March 31, 2016.

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