Top stocks in focus on 16 February 2018

Top stocks in focus on 16 February 2018

NEW DELHI: Domestic market is likely to see a positive opening on Friday , tracking Nifty50 futures on the Singapore Stock 

Exchange (SGX Nifty) and cues from other Asian markets. Nifty futures on the Singapore Stock Exchange were trading 31 points, or 0.29 per cent, higher at 10,588, indicating a positive opening 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. Ideal Stock Investment Advisor
Zee Learn: The company has acquired a controlling 44.5 per cent stake in MT Educare, a Mumbai-based company that runs the popular Mahesh Tutorials coaching classes, for about Rs 200 crore as the Subhash Chandra-controlled Zee Group looks to expand its footprint and make inroads into the government-supported skilling and vocational segment.
PNB: The RBI has directed Punjab National Bank to pay the entire Rs 11,300 crore owed to counterparty banks in the alleged fraud involving jeweller Nirav Modi, said two bankers aware of the development. Not doing so could lead to turmoil in the financial markets as the trust factor that’s integral to the functioning of the banking industry will be lost, they said.
Idea Cellular: The operator on Thursday raised around $535 million, or about Rs 3,500 crore, through a qualified institutional placement (QIP) with the price at Rs 82.50 per share at the closure of bids, a person close to the issue said. The share sale is part of Idea’s stated plans to raise Rs 6,750 crore to cut debt and free up cash ahead of its upcoming merger with Vodafone India.
Fortis Healthcare: The Supreme Court has paved the way for the sale of Fortis Healthcare shares pledged to lenders by former board members Malvinder and Shivinder Singh. The apex court, which had blocked the sale of all Fortis Healthcare shares owned by Fortis Healthcare Holding (FHHPL) on August 31, clarified on Thursday that the status of company shares encumbered on or before that date does not have to be maintained.
UltraTech Cement: India’s largest manufacturer of the primary building material believes that acquiring debt-laden Binani Cement in the ongoing spell of industry consolidation would not breach the monopoly watchdog’s threshold norms on market dominance.
Bharti Airtel: The company's Africa business is being valued at $6.6 billion even as the Sunil Mittal-led telco’s international holding company for Africa operations explores an initial public offer (IPO) to dilute a minority stake, analysts said.
India Grid Trust: The company has signed definitive agreements and acquired the following power transmission assets from Sterlite Power Grid Ventures in accordance with the approval given by unitholders in the general meeting held on 20 November 2017
S Kumars Nationwide: Markets regulator Sebi on Thursday imposed a total penalty of Rs 50 lakh on nine promoter entities of textile firm S Kumars Nationwide for disclosure lapses. During the inspection of the shareholding of S Kumars, Sebi observed that the nine entities had “failed to make disclosures regarding creation/ invocation/ release of certain pledge transactions and off market sale/ purchase of shares” of the company.
Som Distilleries & Breweries: Thwe company announced that the company will start its Maharashtra operations from 16 February 2018. The initial launch would start from Nagpur.
Future Consumer: The company has allotted 1,500 Senior, Secured, Non-Convertible Debentures ("NCDs") having face value of Rs. I 0,00,000/- each for cash at par to CDC Emerging Markets, an arm of CDC Group plc, UK's Development Finance Institution, on private placement basis, consequent to receipt of subscription money aggregating to Rs. 150 crore from the said allottee.
Chandni Textiles Engineering Industries: The company announced that the National Company Law Tribunal (NCLT) vide its order approved the Scheme of Arrangement and the Company received the certified copy of the order from NCLT on January21.
Salasar Techno Engineering: The Board of Salasar Techno Engineering approved a scheme of merger and arrangement between the company and Salasar Stainless, a wholly owned subsidiary of the company primarily engaged in manufacturing of stainless steel pipes and tubes and other related activities. 


Top stocks in focus on 16 February 2018 Top stocks in focus on 16 February 2018 Reviewed by Ideal Stock on February 15, 2018 Rating: 5

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