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    Stocks in focus: HDFC duo, Asian Paints among 29 stocks at fresh 52-week highs

    Synopsis

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

    stocks-PTIPTI
    11.10 am | Bharti Airtel, Videocon Ind touch fresh 52-week low

    More than 70 stocks on the BSE hit their fresh 52-week low even as the 30-share Sensex scaled its fresh all-time high in early deals on Wednesday. Shares of Bharti Airtel, Kwality, Greenply, Videocon Industries, BSL, SP Apparels, Diana Tea, Binny Mills, Hilton Metal, MPL Plastics, Remi Edelstahl, Biopac India, Talwalkars Fitness, JBF Industries, Easun Reyrolle, Sri Adhikari, Hanung Toys, Global Offshore, Sarda Plywood, ARSS Infra, Fedders Electric, Moser Baer and Revathi Equip hit their new 52-week low today.

    11.06 am | HDFC Bank, HDFC, L&T Infotech hit fresh 52-week high
    As many as 29 stocks on the BSE hit their fresh 52-week high on Wednesday morning. The list included stocks such as HDFC Bank, HDFC, HEG Ltd, Larsen & Toubro Infotech, Asian Paints, Envair Electro, Atlas Jewellery Ind, Dolat Invst, Shree Surgovind, Electrosteel, Danlaw Technologies, Deccan Bearings, Cigniti Tech, Astral Poly Tech, Pro Fin Capital Ser, Swaraj Automotives, Tiaan Ayurvedic & Herbs, Blue Circle Svc, Bajaj Finserv and Bhagiradha Chem.

    10.45 am | Prabhat Dairy, Vakrangee defy market trend, decline up to 7%
    Rama Steel Tubes (down 6.78 per cent), Lanco Infratech (down 6.67 per cent), Prabhat Dairy (down 6.07 per cent), BKM Industries (down 5.56 per cent), Ashok Leyland (down 5.17 per cent), V Mart Retail (down 5 per cent), Innovana Thinklabs (down 4.99 per cent), JBF Industries (down 4.97 per cent), Bigbloc Construction (down 4.97 per cent), Vakrangee (down 4.93 per cent), Monnet Ispat (down 4.93 per cent), Talwalkars Fitness (down 4.87 per cent), Ruchi Soya Inds (down 4.83 per cent), MIRC Electronic (down 4.79 per cent), Uttam Galva Steel (down 4.71 per cent), Gayatri Highways (down 4.50 per cent), Goa Carbons (down 4.47 per cent), Sastasundar Venture (down 4.42 per cent), Alok Industries (down 4.05 per cent) and Orient Electric (down 4.04 per cent) declined up to 7 per cent.

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

    UltraTech Cement, RCom: Reliance Communications, UltraTech Cement, Mindtree and Bandhan Bank will report their quarterly numbers during the day. Mastek, JK Tyre, NIIT Tech, JM Financial and Mahindra CIE Automotive will be other companies to announce there first quarter numbers during the day.

    Idea Cellular: The Department of Telecommunications (DoT) has rejected Vodafone India and Idea Cellular’s requests to recalculate their dues, saying its numbers are fine and that India’s second- and third-ranked telcos should pay up to get a final seal of approval on their merger at the earliest.

    Punjab National Bank: The PSU bank, which has been staring at a default on interest payments, has received conditional approval from the Reserve Bank of India to pay interest on its perpetual bonds that are due next week, said two senior officials aware about the development.

    HDFC: The initial public offering of HDFC Mutual Fund will hit the market on July 25. The price band for the issue has been fixed at Rs 1,095-1,100 per share Through the IPO, HDFC, the housing finance major , is selling 4.08 per cent of its stake in the fund house.

    PSU bank stocks: The government has approved capital infusion of Rs 11,336 crore in five public sector banks, including scam-hit Punjab National Bank, Corporation Bank and Andhra Bank, to help them meet regulatory capital requirements.

    IDBI Bank: IDBI Bank would seek its majority shareholder Government of India’s (GoI) go-ahead to facilitate state-run insurer Life Insurance Corporation of India’s (LIC) purchase of a majority stake in the bank as it begins a new journey with a new focus and management strategy under a former SBI executive.

    Zee Entertainment: The company on Tuesday said its profit after tax (PAT) rose 31.4 per cent to Rs 326.40 crore for quarter ended June 30.
    The media company had reported Rs 2,484 crore profit in corresponding quarter last year. Operating revenue for the quarter rose 15 per cent to Rs 1,772 crore compared with Rs 1,540.30 crore in the year-ago quarter.

    PNC Infratech: The company has signed concession agreement with NHAI for implementation of project of Four Laning of Challakere to Hariyur section of NH 150 A, in the state of Karnataka on Hybrid Annuity Mode.

    Crisil: The rating agency reported a 14.7 per cent rise in post-tax net for the June quarter at Rs 77.13 crore. The unit of global ratings major Standard & Poor's had reported a net profit of Rs 67.25 crore in the year-ago period.

    Jet Airways: The aviation company has placed an additional order for 75 jets of Boeing "737 MAX 8" aircraft during the 2018 Farnborough International Airshow.

    Coal India: Nomura has upgraded the ratings of Coal India to buy with a target price of Rs 318 citing a 3-4 per cent rise in fuel supply agreement realisation and a 15 per cent rise in e-auction realisation. Medium-term prospects of a 6-7 per cent year-on-year offtake, relatively stable blended realisation and a check on cash cost of production suggest a reasonable investment case in Coal India, said the brokerage.

    ICICI Lombard General Insurance: Private sector nonlife insurer ICICI Lombard General Insurance posted a 35per cent increase in net profit to Rs 289 crore in the first quarter of the financial year ended June 30, 2018, due to lower expense ratio and an improvement in risk selection. During the same quarter last year, the company had reported a profit of Rs 214 crore.

    Rallis India: The company has reported net profit of Rs.54.58 crore for the June quarter compared with Rs.45.25 crore in the same quarter last year.

    Textile stocks: The government has doubled import duty on over 50 textile products — like jackets, suits and carpets — to 20per cent, a move that is aimed at promoting domestic manufacturing. The Central Board of indirect Taxes and Custom (CBIC) on Monday notified list of textile products on which duties have been hiked to 20per cent.

    Sugar stocks: The Union Cabinet will on Wednesday consider a proposal to increase the minimum price that sugar mills are required to pay to cane growers by Rs 20 to Rs 275 per quintal for the next marketing year starting October, according to sources.

    IPO WATCH
    TCNS Clothing IPO to kick off today
    TCNS Clothing, the owner of Aurelia, W and Wishful brands, will kick off its Rs 1,125-crore initial share sale on Wednesday. The issue of 15,714,038 shares will be offered in the Rs 714-716 price band. Bids could be made for a minimum lot of 20 shares and in its multiples thereafter.



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    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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