15 top stocks in focus today: MMTC, Tree House, Tata Power and more
The BSE Sensex and NSE Nifty50 index opened on a positive note on Tuesday after India’s economy grew by 7.4 per cent in July-September, outpacing China to become the fastest growing major economy. Sensex opened 55.60 points up at 26,201.27, while Nifty index opened 22.90 points up at 7,958.15.
Asian shares also edged up on Tuesday, as investors awaited Chinese factory surveys later in the session amid persistent concerns about cooling growth in the world’s second-biggest economy.
Below are the stocks that are likely in focus today:
Tree House: Company’s share price hit upper circuit on Tuesday after it updated BSE that it has successfully received all amounts related to preschools and franchise operations that were outstanding as on 30 September 2015.
Yes Bank: Shares of the private lender was trading 0.18 per cent down at Rs 765.15 after it signed loan agreements totalling $265 million wiyh Opic and Wells Fargo to support small business growth in India.
MMTC: State-owned trading firm MMTC said it will invest about Rs 6,000 crore to double the capacity of Neelachal Ispat Nigam (NINL) in the next four years.
Shreyas Shipping & Logistics: The company has received its board’s approval to enter into Memorandum of Understanding (MoU) for the formation of a Joint Venture Company (JVC) with Suzue Corporation, Japan for exploring business opportunities in the logistics space within India and Japan.
Tata Power: Maithon Power, a 74 per cent Joint Venture (JV) of Tata Power, has issued and allotted senior, non-cumulative, redeemable, listed, rated, secured non-convertible Debentures (NCDs) for an amount of Rs 500 crore on private placement basis. The NCDs have been rated AA-(with stable outlook) by CRISIL. The NCDs carry a floating rate of interest linked to base rate published by HDFC Bank. These NCDs have been issued on a private placement basis through a private placement offer letter cum information memorandum.
Rate sensitive stocks: Stocks of auto, realty and banking companies will be in focus as RBI will hold its monetary policy review on Tuesday. It is widely expected that RBI may maintain a status quo on key inaterst rates.
United Breweries Ltd: Promoter firm McDowell Holdings’ pledged stake in United Breweries Ltd (UBL) has come down to 3.02 per cent, after lender Yes Bank invoked the pledge on part of the shares encumbered with it.
Oil marketing companies: Stocks of Oil marketing companies will be in focus as the price of petrol was on Monday cut by 58 paise per litre and that of diesel by 25 paise, reversing the trend of increasing rates, on global cues.
Torrent Power: Torrent Power Ltd has sought shareholders’ approval for allowing its lenders to convert their loans into equity by passing a special resolution.
Natco: The drug firm on Monday said it has received shareholders’ approval for amalgamation of its subsidiary Natco Organics into the company.
Allahabad Bank: The bank on Monday said it may partially or completely divest its stake in the insurance joint venture Universal Sompo General Insurance (USGI).
Tata Global Beverages: The company , which has entered the branded instant coffee business under Tata Coffee Grand, will source beans from its plantations in South India and use the company’s tea network to market the product.
Manappuram Finance: The company on Monday said it will raise Rs 2,000 crore by issuing non-convertible debentures (NCDs) on a private placement basis.
IVRCL: Amid speculation over demerger of its property development and EPC business, debt-ridden company on Monday said the senior lenders of the company will meet this week under the Corporate Debt Restructuring (CDR) mechanism.
Pidilite Industries: The adhesives and industrial chemicals maker has acquired Chemifix trademark and other brands associated with PVAC adhesives business from Sri Lanka-based CIC Holdings Plc.
Read full article: Financial Express
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