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Top Ten Stocks to be Focused for 21 Oct 2016

Top Ten Stocks to be Focused for 21 Oct 2016

RIL: Reliance Industries reported an 18.5 per cent rise in standalone profit in the July-September quarter as its petrochemicals business boomed and its giant Jamnagar refinery processed more oil, earning $10.1 for each barrel of crude it converted into fuels.

Wipro: The IT major has agreed to buy a US-based company which helps organisations migrate software applications to the cloud,  continuing a streak of acquisitions by the Indian IT company spending over $1.1 billion so far this year.

NBCC: State-owned NBCC’s share sale today garnered 1.54 times subscription from institutional buyers, who put in bids totalling more than Rs 2,700 crore.

Biocon: Bangalore-based biotech major Biocon posted 52 per cent rise in net profit over last year for the second quarter ended September 30, led by growth in its small molecules, biologics and research services.

Syngene International: Biocon’s contract research arm Syngene International posted 54.02 per cent rise in its net profit at Rs 74.7 crore for the second quarter ended September 30, driven by discovery and R&D centre business verticals.

Suzlon Energy: Canadian Solar, one of the biggest solar power companies in the world, made its first investment in India’s alternative energy sector by acquiring 49 per cent stake each in two projects of Suzlon Energy in Telangana for an aggregate amount of Rs 26.4 crore.

Reliance Infrastructure: Mega road deal talks between Reliance Infra and Brookfield put on a back burner and according to sources, valuation mismatch between parties stalls billion dollar road portfolio sale.

Gulf Oil Lubricants: Hinduja Group firm Gulf Oil Lubricants reported a 28 per cent increase in net profit for the quarter ended September 30 to Rs 30.2 crore against Rs 23.6 crore in the corresponding period year-ago.

Ashok Leyland: Hinduja flagship firm Ashok Leyland said it has bagged order worth USD 170 million (about Rs 1,140 crore) from Tanzania to supply vehicles, gensets and spares, among others.

LIC Housing Finance: The company reported 20 per cent jump in net profit in the second quarter of the financial year on strong loan demand from both the developer and individual homebuyers.

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