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Top Ten Stocks to be Focused for 24 Oct 2016

Top Ten Stocks to be Focused for 24 Oct 2016

Wipro: India’s third largest software services company WiproBSE 0.75 % on Friday posted 8.2 per cent year-on-year drop in net profit at Rs 2,070 crore for the second quarter of this financial ended September 30, 2016.

RIL: Reliance IndustriesBSE 0.52 % is set to buy six very large ethane carriers (VLEC) from South Korea’s Samsung Heavy Industries Co Ltd for $600 million, said executives involved, marking the Mukesh Ambani-led company’s biggest maritime initiative in recent times.

Tata Motors: Tata Motors is evaluating the possibility of acquiring a stake in shared mobility providers, as Uber, Ola and a host of other newage companies disrupt the way the transportation sector works.

Telecom Stocks: India’s telecoms regulator on Friday recommended the top three network operators be fined a combined 30.5 billion rupees ($455 million), saying they were denying new entrant Reliance Jio sufficient interconnection points.

Sun Pharma: Sun Pharmaceutical IndustriesBSE -0.01 % on Friday completed the divestment of its seven prescription brands in India to RPG Life SciencesBSE -0.24 %.

L&T: Engineering and construction conglomerate Larsen and ToubroBSE -0.73 % (L&T) plans to raise as much as $500 million (Rs 3,350 crore)  by selling shares to institutional investors, joining the league of a group of large companies taking advantage of a liquidity-driven market rally to fund their capital requirements

Important Q2 results: More than 50 companies listed on the BSE will report their earnings for the quarter ended September 30 which include names like Adani PowerBSE 0.36 %, Axis BankBSE -0.56 %, Indiabulls Real EstateBSE 1.59 %, Idea CellularBSE -1.81 %, Reliance CapitalBSE 0.51 %, Tata Metalliks, etc.

Indiabulls Housing Finance: Indiabulls Housing Finance Company on Friday reported 23.2 per cent increase in net profit during the quarter ended September 30, 2016, on demand for a home loan from individuals.

M&M: A move that we were anticipating for quite a while now, Indian auto major Mahindra and MahindraBSE -0.37 % has acquired the UK-based two-wheeler manufacturer BSA Company for 34 lakh Pounds (around Rs 28 crore),

ICICI Bank & Axis Bank: Within days of Essar Group signing a mega $12.9-billion asset sale in its oil business, three top lenders — ICICI Bank, Axis Bank, and StanChart — have got back an estimated $2.5 billion as part of the first payment for their debt exposure to the Ruias-led conglomerate.

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