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Top Stocks to be Focused for 20 Dec 2016

Top Stocks to be Focused for 20 Dec 2016

Phoenix Mills: The company on Monday entered into a share purchase agreement for acquisition of the entire 15.18 per cent stake in its subsidiary Offbeat Developers held by Vistra and IIRF.

Tata Coffee: Tata Coffee said it would set up a greenfield instant coffee facility in Vietnam at a cost of $50 million (about Rs 350 crore). Meanwhile, Cyrus Mistry, the ousted chairman of Tata Sons, said on Monday that he is stepping down from six listed Tata Group companies, as he plans to shift his battle against Ratan Tata to a forum “where the rule of law and equity is upheld”.

Wockhardt: Drug firm Wockhardt said that the UK health regulator has confirmed that its manufacturing facility at Chikalthana in Maharashtra complies with good manufacturing practices (GMP).

Opto Circuits: The company and its subsidiaries have received an order worth Rs 91 crore from Philips Health Care for various products manufactured by the Opto Group of companies.

Granules India: Granules OmniChem facility, a 50:50 joint venture company of Granules India and Ajinimoto OmniChem NV, located at Vizag has completed its first inspection by USFDA with seven observations.

YES Bank: The bank has announced that it has received AA rating with stable outlook from Care Ratings for Rs 2100 crore of Basel III AT1 (Additional Tier-1) Bonds and Ind AA rating with stable outlook from India Ratings & Research.

IL&FS Transportation: GRICL Rail Bridge Development, a wholly-owned subsidiary of IL&FS Transportation Networks, said it will build eight railway over-bridges in Gujarat at an estimated cost of Rs 250.85 crore.

Coal India: Goldman Sachs initiated coverage on Coal India with ‘Buy’ rating with a target price of Rs 360. The scrip is trading at Rs 287.70.

Ankit Metal & Power: Ankit Metal on Monday informed bourses that the company’s factory at Jorehira, Chattna, Bankura, West Bengal which was under temporary suspension of work since February 25, 2016 after successfully trial runs has resumed operations.

Glenmark Pharmaceuticals: The pharma major on Monday said it has chalked out $300 million capital expenditure plans over the next three years.

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