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Top Ten Stocks to be Focused for 23 May 2016

Top Ten Stocks to be Focused for 23 May 2016

The Indian market is expected to open flat-to-higher on Monday tracking positive trend seen in other Asian markets.

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

HDFC Ltd: HDFC said that it will raise Rs 730 crore through private placement of non-convertible debentures. The mortgage lender said the proceeds will be used to fund its long term capital resources.

Nalco: Nalco said its board will meet on May 25 to discuss buy-back of the government’s 25 per cent stake in the aluminium maker.

Mahindra and Mahindra Finance: The non-banking Finance arm of the Mahindra group, is raising up to Rs 1,000 crore via retail bond sale, for the first time, as it aims to expand its retail franchise.

BHEL, Power Grid: The state-run BHELBSE -0.55 % will be dropped from the BSE’s benchmark index Sensex from June 20 and will be replaced by Power Grid Corporation of IndiaBSE 1.66 % .

Godrej Group: Diversified Godrej Group is looking to accelerate growth and multiply its size 2.5 times in the next four years to touch USD 10 billion mark by 2020 with acquisitions in emerging markets slated to play a key role in achieving the target.

Sadbhav Infrastructure: The company said it has been declared the lowest bidder by National Highways Authority of India (NHAI) for two of its projects in Gujarat at a bid price of Rs 1,389 crore.

Tata Power: The company is expected to report 75 per cent YoY growth in net profit to Rs 280 crore for the quarter endedMarch 31, compared with Rs 159 crore reported in the year-ago period.

BPCL: The state-run oil & gas refiner is expected to report 36 per cent YoY drop in the net profit to Rs 1822 crore for the quarter ended March 31, compared with Rs 2853 crore reported in the year-ago period.

ONGC: India’s flagship explorer ONGCBSE -0.21 % is facing a repeat of KG fiasco in Iran as lengthy negotiations on terms may drive it to a point where its discovered gas reserves in Farzad-B field in the Persian Gulf may be drawn out by neighbouring Saudi Arabia.

Tata Motors: India’s Tata Motors is in talks with a local manufacturer here to set up a joint venture for assembling its petrol cars in Iran as it looks to tap the fast growing market

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