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Top Stocks to be Focused for 12 May 2017

Top Stocks to be Focused for 12 May 2017

Kotak Mahindra BSE 0.47 % Bank: Private lender Kotak Mahindra BankBSE 0.47 % is looking to raise about Rs 5,662 crore through sale of 6.20 crore shares through qualified institutional placement (QIP). This share sale is part of stake reduction exercise by its promoter Uday Kotak, the vice-chairman of the bank, as per the RBI advice. Infosys: InfosysBSE 1.40 % has delayed salary increases to at least July and even later for senior employees, India’s second-largest software services exporter said, even as it played down fears of job cuts and started taking steps to reduce operating costs. Asian Paints: The company on Thursday reported 10.13 per cent increase in consolidated net profit to Rs 479.61 crore for the March quarter of last fiscal. Asian PaintsBSE -2.76 % had in comparison posted a net profit of Rs 435.47 crore in the January-March quarter of 2015-16. Glaxo Smith Kline (GSK) Consumer Healthcare: The company on Thursday posted an 8.42 per cent rise in standalone net profit for the quarter ended March 31 at Rs 175.88 crore. It had posted a net profit of Rs 162.22 crore in the corresponding period a year ago Glenmark BSE -12.82 % Pharmaceuticals: The pharma company on Thursday posted 23.5 per cent rise in consolidated net profit to Rs 183.76 crore for the fourth quarter ended March 31, 2016-17, mainly on account of robust sales in the US. In comparison, it had posted a net profit of Rs 148.79 crore for the January-March period of 2015-16, Glenmark said in a filing to BSE. Force Motors : Commercial vehicle maker Force Motors reported a 25.29 per cent...
Gold And Silver Updates For 10 April 2017

Gold And Silver Updates For 10 April 2017

Gold trading range for the day is 28443-29121.Gold prices gave up most of its gains as the dollar rose and safe haven demand ebbed.Prices strengthened earlier after U.S. launched cruise missiles at an airbase in Syria, sparking concerns of an escalation in the Syrian civil war.Gold reserves value fell to $73.74 billion at the end of March, from $74.376 billion at end-February, data published on the Peoples Bank of China website also showed. Silver trading range for the day is 40342-42950.Silver dropped as the safe haven demand faded and the dollar index climbed to three-week highs.U.S. employers added the fewest number of workers in 10 months in March which is most attractive to investors in a low interest rate environment.The Bureau of Labor Statistics reported, Nonfarm payrolls grew by just 98,000 in March, well below expectations of...
Today Govt will sell its 15 % stake to NBCC to raise Rs 2,200 cr

Today Govt will sell its 15 % stake to NBCC to raise Rs 2,200 cr

New Delhi: Government will on Thursday sell its 15 % stake in state-owned construction company NBCC at a floor price of Rs 246.50 with a goal to raise Rs 2,200 crore. The Centre had earlier in July cleared a proposal to sell its stake NBCC India with a goal to meet the ambitious Rs 56,500-crore PSU disinvestment target in 2016-17. Currently, the government holds 90 % in the company. The share sale will help the company meet up with SEBI’s listing requirement of having a minimum public holding of 25 %. NBCC was listed on the bourses in 2012 when the government diluted 10 % stake to raise Rs 127 crore. The price band of NBCC IPO was fixed at Rs 90-106 per share. Earlier, in May this year, shareholders had approved stock break to facilitate the FPO under the governments disinvestment programme. The company has break its share of Rs 10 each into five with a face value of Rs 2...
India: Govt may seek $7.5 billion extra to Project growth

India: Govt may seek $7.5 billion extra to Project growth

New Delhi: India may aim parliamentary approval to spend about $7.5 billion more on roads, railways and other public programmers over the next five months, two govt sources said, as Prime Minister Narendra Modi looks to move growth & create jobs. The new spending, details of which are yet being worked out, would come at a time when private investment has jumped, leading to a slowdown. It would also conflict with the runup to a crucial state election early next year in Uttar Pradesh, Indian`s most populous state that is home to more than 200 million people. At $7.5 billion, the further spending would represent about 2.5 % of the total budgeted so far for the current fiscal year. The polls of UP is forming up to be one of the most important exams for Modi`s ruling Bharatiya Janata Party, with effects both for the smooth functioning of govt and his hope of winning a second term in 2019 national elections. Modi has promised to generate 250 million jobs over the next decade, still Asia`s third-largest economy is not growing fast enough to absorb around 1 million young people who enter the job market each month. Unemployment rose to 5 % in 2015/16, from 3.8 % in 2011/12, government data...
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