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Top Ten Stocks to be Focused for 24 June 2016

Top Ten Stocks to be Focused for 24 June 2016

The Indian market is expected to open lower on Friday tracking negative trend seen in other Asian markets as well as SGX Nifty.

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

Brexit related stocks: Tata Motors, Tata Steel, Bharat Forge, Kitex GarmentsBSE -3.04 %, KPR Mill, WockhardtBSE -5.19 % and Torrent Pharma have considerable exposure to European markets. Bharat Forge generates around 30 per cent of its consolidated sales from EU.
Sun Pharma: India’s largest drug maker by market capitalization announced its board of directors approved a share buyback plan at Rs 900 per share through a tender offer for a maximum of 7.5 million equity shares. The plan will roughly cost the company Rs 675 crore.

HDFC Ltd: HDFC LtdBSE -3.07 % has invoked 35,000 shares of United SpiritsBSE -3.46 % pledged to it by Kingfisher Finvest India, a firm promoted by embattled businessman Vijay Mallya.

State Bank of India: Country’s largest bank, State Bank of IndiaBSE -5.91 % said that it would raise $ 1.5bn in this fiscal year by issuing dollar denominated bonds. In a statement issued to the Bombay Stock Exchange, the bank said that the executive committee of the central board will meet on June 29 to consider this proposal.

Glenmark Pharma: The Foreign Investment Promotion Board (FIPB), is scheduled to meet on July 5 to consider about 15 foreign investment proposals including that of Sistema Sistema Shyam, GlenmarkBSE -4.10 % Pharma, Morgan Stanley India will come up for consideration.

Tata Motors: Tata Motors-owned Jaguar Land Rover (JLR) on Thursday began recalling more than 11,000 vehicles in China due to faulty crankshaft sensors, China’s quality watchdog said.

Allahabad Bank: State-run Allahabad BankBSE -6.12 % is aiming to grow its retail lending book by one-fifth this fiscal, expecting a consumption-led economic growth this fiscal with higher government’s spending on salaries.

JSW Energy: Months after initial discussions fell through, Sajjan Jindal-controlled JSW EnergyBSE -4.16 % is said to have reopened talks with the Jaypee Group on acquiring three power assets.

ITC: ITCBSE -1.42 % Ltd’s packaged food business has crossed the Rs 7,000 crore sales mark in 2015-16, a growth of 10.7 per cent over last fiscal. With this, the company’s non-cigarette FMCG brands have garnered annual consumer spend over Rs 12,000 crore, as per disclosure in the recently published annual report.

Bank of India: State-owned Bank of India said it has raised Rs 1,000 crore through bonds that comply with Basel-III norms for capital adequacy.

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