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Top Ten Stocks to be Focused for 9 August 2016

Top Ten Stocks to be Focused for 9 August 2016

Here is a list of top Ten stocks that are likely to be in focus today:

Rate sensitive stocks will be in focus ahead of the Reserve Bank of India’s (RBI) monetary policy review due today. The central bank is expected to maintain status quo on rates.

Idea Cellular: India’s third-largest telco reported standalone net profit which fell to Rs 497.1 crore in the April-June quarter. Consolidated net profit slumped 74 per cent on year to Rs 220.4 crore.

SBI: State Bank of IndiaBSE 0.58 % has directed five associate banks to clean up their books as a prelude to the proposed merger – the move that has led to Rs 2,018 crore combined losses of associate banks in the first quarter ending June this year.

Max Financial & HDFC: HDFC Chairman Deepak Parekh and Max Group Chairman Analjit Singh announced a deal merging their life insurance businesses to create what will eventually be India’s largest listed life insurance company with an estimated market value of Rs 67,000 crore

ONGC: State-owned ONGC shelled out Rs 18,787 crore in excess subsidy over 3 years as it ‘over- reported’ crude oil production by 12 per cent, which also resulted in extra payment of performance related pay to its executives, government auditor CAG said.

Tata Motors: Tata Motors on Monday reported a 20 percent rise in global sales at 88,159 units, including that of Jaguar Land Rover (JLR) vehicles, in July.

Manappuram Finance: South-based gold loan provider Manappuram Finance is on the prowl for acquisition of microfinance companies as it looks to grow its share of non-gold loans, riding on the sector’s success story.

Future Lifestyle Fashion: FLFL, part of Kishore Biyani-led Future Group, posted a 42.33 per cent increase in net profit at Rs 3.53 crore for the quarter ended June.

Skipper: Kolkata-based Skipper reported a 36.9 per cent rise in net profit at Rs 13.72 crore for the quarter ended June 30, mainly on improved sales.

Sun Pharma: Sun Pharmaceutical Industries LtdBSE -0.54 % and its subsidiaries or associate companies announced the extension of its Imatinib Mesylate Savings Card Program beyond July 31, 2016. The program is aimed at delivering greater access to the drug by patients who have commercial insurance, but whose out-of-pocket cost may exceed an affordable amount.

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