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Top Ten Stocks to be Focused for 7 Oct 2016

Top Ten Stocks to be Focused for 7 Oct 2016

Tata Motors: Automobile manufacturer Tata has struck a deal with a major South African car hire company to supply Tata Bolt 1.2 Turbo hatchbacks for its national rental fleet.

UCO Bank: State-owned UCO Bank said it will sell 7.17 crore shares to LIC on a preferential basis, which may fetch about Rs 270 crore to the bank.

HDFC: Top mortgage lender HDFC LtdBSE -0.15 % will raise Rs 1,500 crore by issuing debt securities on a private placement basis. The secured non-convertible debentures (NCDs) will carry a coupon rate of 7.5 per cent per annum.

IDBI Bank: The government, looking to get state-run IDBI Bank’s stalled disinvestment plan moving again, has instructed the lender’s management to bring its stake down to 52 per cent.

ONGC: ONGC has signed a preliminary pact to acquire a stake and operate the KG Basin block of Gujarat State Petroleum Corp.(GSPC), which had announced a major natural gas discovery and spent $3 billion to develop it but hasn’t been able to start commercial production in the technically challenging field.

Dewan Housing Finance Corporation Ltd : DHFL reduced lending rate by 0.2 per cent to 9.35 per cent to cash in on the festival fervour.

ABG Shipyard: ABG Shipyard has decided to divest its subsidiary Western India Shipyard LtdBSE -5.00 % and will invite bids from prospective investors. The decision was taken in the meeting of the board of directors of the company held on Thursday.

Telecom stocks: India’s largest spectrum auctions closed on Thursday, with the government getting a lower-than-expected Rs 65,789.12 crore and Vodafone India and Bharti AirtelBSE -0.74 % emerging as the biggest buyers of 4G airwaves, followed by newcomer Reliance Jio Infocomm and Idea CellularBSE 0.06 %.

Tata Steel: Tata Steel has raised Rs 1,000 crore in a bond sale after a long time as it capitalises on the twin benefits of softening interest rates and improved profit margins due to slowing of Chinese dumping after punitive levies.

UPL Ltd: UPL Corp, the wholly owned subsidiary of UPL Ltd, formerly known as United Phosphorous Limited, has raised $500 million (Rs 3,325 crore) by selling dollar-denominated bonds to overseas investors.

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