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Top stocks in focus on 10 January 2018

Here is a list of top stocks that are likely to be in focus in today's trading session.

ETMarkets.com|
Updated: Jan 10, 2018, 10.06 AM IST
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NEW DELHI: Domestic equity markets are likely to see a flat start on Wednesday, tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and global cues.
Nifty futures on the Singapore Stock Exchange were trading 6 points, or 0.06 per cent, higher at 10,645, indicating a flat start for the Nifty50 in India.
Here is a list of top stocks that are likely to be in focus in today's trading session:

IDFC Bank, Capital First: IDFC Bank, which scrapped a deal to merge with Shriram City Union, is said to be exploring a similar deal with the Mumbai-based Capital First, which has more than 5 million customers in retail and small and medium enterprises, said two people familiar with the discussions.

Monnet Ispat, SBI: State Bank of India-led bankers have demanded that a proposal in the resolution plan for Monnet Ispat by JSW and Aion Capital to accommodate defaulted promoters Jajodias with a minority stake in the company post restructuring be tossed out, signalling lenders are in no mood to oblige defaulters, said two people familiar with the matter.

Punj Lloyd: Construction firm Punj Lloyd has initiated arbitration against the Libyan government-owned Sirte Oil Co to recover dues of Rs 1,300 crore. Punj Lloyd says that the Libyan company had unilaterally expanded the scope of a five-year project that was signed only for laying gas pipelines between 2006 and 2011.

Gujarat NRE Coke: The National Company Law Tribunal's Kolkata Chapter has reserved the expected liquidation order on Gujarat NRE Coke after its management provided the debt-laden company’s human resources data to the dedicated bankruptcy court.

Axis Bank: Axis Bank is looking to acquire a life insurance business, said people with knowledge of the development. The bank’s executive committee had approved the move in the December quarter, they told ET. Among possible targets are IDBI Federal Life Insurance and Tata AIA, they said.

TVS Motor: TVS Motors has hiked its stake in Codivision Solutions by 5.6 percentage points, taking its total ownership to 29.6 per cent.

Motherson Sumi: Motherson Sumi Systems has formed a joint venture (JV) with Ossia Inc by Motherson Innovations Company, UK, a step down subsidiary through Samvardhana Motherson Automotive Systems Group BV, Netherlands.

YES Bank: YES Bank is set to raise $500 million in what could be the first dollar-denominated bond sale by the Rana Kapoor-controlled lender as it looks to acquire cheaper capital to ramp up business. Citigroup, Bank of America-Merrill Lynch, HSBC and ICICI Securities are managing the fund raising for Yes Bank.

Telecom stocks: Telecom Commission (TC) has decided to relax spectrum holding caps, giving a boost to M&As and spectrum sale, as carriers try to sell assets, including airwaves, to repay debt. The commission also extended the payments tenure for auctioned airwaves from 12 years to 16 years, and lowered the interest rate on penalties on outstanding dues of telcos from 14 per cent to 12 per cent.

Reliance Communications: Reliance Jio Infocomm may target Reliance Communications’ remaining unsold airwaves in the 850 MHz band — considered among the most suitable for rollout of 4G services — with the government backing the sector regulator’s call for easing spectrum cap rules, three people aware said, adding that Bharti Airtel could provide a stiff challenge.

Infosys: Infosys announced the successful conclusion of an advance pricing agreement with the US Internal Revenue Services (IRS). Under the APA, the company and the IRS have agreed on the methodology to allocate revenues and compute the taxable income of the company's US operations. The APA will enhance the predictability of the Company's tax obligations in respect of its US operations.

DCB Bank: The bank announced that the managing director & CEO in consultation with the chairman and the CFO have approved the issuance of unsecured non convertible tier 2 bonds for an aggregate amount not exceeding Rs 150 crore, on private Placement Basis

Power Grid of India: The board of Power Grid Corporation of India has accorded investment approval for 'Transmission System for Ultra Mega Solar Power Park at Tumkur (Pavagada), Karnataka Phase II Part C' at an estimated cost of Rs 92.13 crore with commissioning schedule of 20 months from the date of investment approval.

Spice Mobility: Spice Mobility announced that its subsidiary, Spice Digital has divested its entire equity stake in Sunstone Eduversity (Eduversity) pursuant to a Share Purchase Agreement entered into by them.

South Indian Bank: The lender managed to make a profit in the third quarter as it cut provisions for bad loans. Net profit increased 3.6 per cent to Rs 115 crore from Rs 111 crore a year ago mainly as provisions for bad loans were cut to Rs 154 crore from Rs 207 crore a year earlier.

IPO watch
Apollo Micro Systems: The IPO will kick off today. The company has fixed a price band of Rs 270-275 per share for its offering. The proceeds of the Rs 156 crore issue will be used to meet additional working capital and other general corporate purposes. A discount of Rs 12 on the issue price will be offered to retail investors and to eligible employees. The minimum lot size for subscription is fixed at 50 shares. The issue will close on Friday.
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