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Stock Analysis, IPO, Mutual Funds, Bonds & More

Fifteen stocks in focus on Tuesday, 6 December 2016

State-owned Canara Bank on Monday said it proposes to bring down stake in its housing finance subsidiary Can Fin Homes to 30 per cent as part of strategy to exit non-core business.

ETMarkets.com|
Dec 06, 2016, 07.42 AM IST
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Sensex
M&M said its subsidiary has inked a pact to acquire up to 60 per cent stake in Netherlands-based OFD Holding BV for 5 million euros.
Domestic equity markets are likely to open on a flat note on Tuesday following SGX Nifty and mixed global cues. SGX Nifty was trading 1 point down at 8,170 in early trade, indicating a flat start for NSE Nifty index. Asian peers, Hang Seng, Nikkei and Shanghai indices were up by 0.93 per cent, 0.82 per cent and 0.17 per cent, respectively.

On Wall Street, Dow Jones Industrial Average index hit fresh record highs on Monday following services sector data that showed further strength in the domestic economy. The index closed 0.24 per cent up at 19,216.24.

Here is a list of 15 stocks that are likely to remain in focus on Tuesday in response to various news triggers:

Indiabulls Real Estate: The company on Monday announced buy-back of up to six crore equity shares of the company for Rs 540 crore.

Canara Bank, Can Fin Homes: State-owned Canara Bank on Monday said it proposes to bring down stake in its housing finance subsidiary Can Fin Homes to 30 per cent as part of strategy to exit non-core business.

Tata Power: Tata Power' Strategic Engineering Division (SED) has won a Rs 200 crore order from the Defence Ministry for supplying one regiment of command post and launcher of Pinaka multi rocket launch system. The order won by Tata Power SED includes supply of 20 launchers and 8 command posts.

Lupin: Drug firm Lupin has received final approval from the US health regulator for its Hydrocodone Bitartrate and Acetaminophen tablets used for providing pain relief.

Rajesh Exports: The company on Monday said it has bagged an export order worth Rs 786 crore of designer range of gold and diamond studded jewellery and medallions from UAE.

Mahindra & Mahindra: M&M said its subsidiary has inked a pact to acquire up to 60 per cent stake in Netherlands-based OFD Holding BV for 5 million euros.

RattanIndia Power: The company’s standalone net loss narrowed to Rs 50.7 crore for the quarter ended September 30, 2016. It had posted a net loss of Rs 82.8 crore in the corresponding quarter of previous fiscal.

OM Metals Infraprojects: The company has informed BSE that it has been awarded a works contract for Hydro Mechanical works package for modernisation and renovation of Baira Siul hydro electric power station (3 X 60 MW) in Himachal Pradesh by NHPC Ltd. The contract value is 19.91 crore and this contract has to be executed in 28 months time period.

Dabur: FMCG firm Dabur on Monday said the demonetisation of high value currency notes would have beneficial impact on organised players in the segment. However, on account of scarcity of cash available with customers and trade, the company foresees near term pressures on its business.

Goa Carbon: The company on Monday informed bourses that the operations at its Bilaspur Plant has been temporarily shut down from Saturday, December 03, 2016. However, there would not be any financial impact due to the temporary shutdown of the company’s Bilaspur Unit as there is sufficient inventory to service the orders in hand.

Earnings Today: Future Retail, Subex, Surya Roshni and Venky’s (India) will announce their financial results for the quarter ended September 30, 2016 on Tuesday.

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