Stocks in focus on May 18, 2018

NEW DELHI: Domestic shares are likely to start on a negative note on Friday, tracking Nifty on Singapore Stock Exchange (SGX) and global markets. At 08:00 am, the Nifty futures on SGX were trading 37 points or 0.35 per cent lower at 10,665.50.

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

Tata Steel: Bamnipal Steel, a Tata Steel unit at the vanguard of the parent company’s current acquisition drive for insolvent mills, has raised about Rs 5,000 crore by selling commercial paper (CP), seeking to use the proceeds for immediate debt repayment. The special-purpose vehicle will be the financing conduit for Tata Steel’s Rs 35,200-crore acquisition of the debt-laden alloy maker from lenders. CPs are shortterm debt instruments issued by companies.

Key Q4 earnings today
Bajaj Auto, Bajaj Holdings, Ashok Leyland, Prabhat Dairy, Thermax, Tata Chemicals and Strides Shasun would be among the companies scheduled to report their quarterly numbers during the day.

Reliance Power: Anil Ambani-led Reliance Power has exited the ultra-mega power project (UMPP) that it had bagged in Tilaiya by selling it to the state-run Jharkhand Urja Vikas Nigam for Rs 113 crore, after the project didn’t take off and the company terminated power purchase agreements with different states.

DHFL: Mortgage lender Dewan Housing Finance is planning to raise Rs 50,000 crore through the debt market and bank borrowings in the current financial year to support business growth, a top official said today. Of this, the company is looking to raise up to Rs 12,000 crore through issuance of non convertible debentures (NCDs) next week.

Banking stocks: The Reserve Bank of India on Thursday announced final guidelines on net stable funding ratio (NSFR) according to the Basel III framework. Basel III has two liquidity frameworks one called liquidity coverage ratio (LCR) dealing with short term liquid investments by banks and another called NSFR which promotes resilience over a longer-term time horizon by requiring banks to fund their activities with more stable sources of funding on an ongoing basis.

Union Bank of India: Dai-Ichi Life has entered the Indian Asset management business by making an investment in Union Asset Management Company. As part of this new partnership, Dai-ichi Life Holdings Inc holds 39.62 per cent of the share capital of Union AMC through investment in Compulsorily Convertible Preference Shares. Consequently, Union Mutual Fund would now be co-sponsored by Union Bank of India and Dai-ichi Life.

ITC: CLSA has maintained ‘buy’ rating on ITC and raised target price to Rs 340 from Rs 330. The firm said ITC’s cigarette and FMCG business performance for the fourth quarter of FY18 was in-line/ahead of expectation although other businesses were much weaker.

Sun Pharma: The pharma major announced that one of its wholly-owned subsidiaries has launched in US, the Authorized Generic (AG) version for Daiichi Sankyo Inc.'s Welchol (colesevelam hydrochloride) 625mg tablets. The launch is pursuant to a distribution and supply agreement between Sun Pharma's wholly owned subsidiary and Daiichi Sankyo Inc., which grants the Sun Pharma subsidiary, exclusive rights to distribute these tablets in the US for a pre-determined period.

Godrej Agrovet: Godrej Agrovet announced that its subsidiary, Creamline Dairy Products (CDPL), as a part of its expansion plans, intends to invest Rs 400 crore in 3 greenfield milk processing plants in Tamil Nadu, North Karnataka and Maharashtra over the period of next 3 years. The announcement was made on Thursday after market hours.

Vijaya Bank: The lender announced that a board meeting will be held on 20 May 2018 to discuss on the capital raising plan under BASEL-III for the financial year 2018-2019.

GSFC: Gujarat State Fertilizers & Chemicals (GSFC) said it signed a non-binding memorandum of understanding (MoU) with Centrex Metals, Australia, for the purchase of 3,00,000 tonnes per annum (dry basis) of rock phosphate for 10 years. The said proposal upon its implementation shall be immensely useful to GSFC for the purpose of its backward and forward integration strategies.

ITDC: India Tourism Development Corporation (ITDC) on Thursday announced that a share transfer agreement has been signed amongst ITDC, Arunachal Pradesh Industrial Development & Financial Corp (APIDFC), Donyi Polo Ashok Hotel Corporation (DPAHCL) and Government of Arunachal Pradesh (GoAP) for transfer of 51 per cent equity stake of ITDC in DPAHCL, the joint venture subsidiary company, to APIDFC/GoAP on a consideration amount of Rs 1.98 crore.

Voltas: On a consolidated basis, Voltas' net profit fell 3.13 per cent to Rs 194.19 crore on 1.15 per cent increase in net sales to Rs 2021.30 crore Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 17 May 2018.