Top stocks in focus on Tuesday, 5 September 2017

Top stocks in focus on Tuesday, 5 September 2017

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

NEW DELHI: Domestic equity markets are likely to open on a flat to positive note on Monday, tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues.

At 8.15 am, Nifty50 futures on the Singapore Stock Exchange were trading 20 points, or 0.20 per cent, up at 9,947, indicating a positive opening for the domestic market.

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

Reliance Capital: The stock will turn ex-date on Tuesday for the proposed demerger of Reliance Home Finance. The company on Monday had said that its shareholders will get a free share of Reliance Home Finance for each share of Reliance Capital held as on September 6.

HDFC Bank: India’s most valuable lender HDFC Bank has joined SBI and ICICI BankBSE -0.92 % as domestically systemically important banks (D-SIB) in 2017. Under the D-SIB framework, these banks are required to maintain additional Common Equity Tier-1 capital.

Maruti Suzuki: India’s largest car-maker Maruti Suzuki IndiaBSE 0.37 % could potentially rise another 18 per cent going ahead even after the near 47 per cent jump in the current calendar year, Hong Kong headquartered brokerage CLSA said. The brokerage has a target price of 9,230 on the stock with a `buy’ rating, which implies the 18.28 per cent potential upside from current levels.

Religare Enterprises: Some investors holding pledged shares of Religare EnterprisesBSE 2.37 % filed a lawsuit in Bombay HC against the company’s promoters after the Singh brothers proposed the firm pay ` . 500 crore from divestment proceeds to settle a loan given by Axis BankBSE -1.45 % to a Religare arm, reports Deepali Gupta.

MCX: Trading on India’s commodity exchange MCX was halted for almost an hour Monday evening because of a technical glitch in the upgraded software version that went live earlier during the trading day, brokers and market sources told ET.

Hotel Leelaventure: American PE fund Marigold Capital has agreed to buy hotel chain Leelaventure’s 326 room hotel in Chennai, ending years of speculation about the potential buyers of the property.

Syndicate Bank: After the state-run UCO BankBSE 2.40 % in the east, southbased Syndicate BankBSE -0.54 % too has threatened employees with holding back paychecks of those irregular or laggardly.

Tata Motors: Tim Leverton, the man who rejuvenated the passenger vehicles line-up for Tata MotorsBSE -0.89 % has chosen to “disengage” from the company and relocate to UK for “personal reasons”. The announcement by Tata Motors on Monday came as a surprise to many people in the industry.

PNB: PNBBSE -2.37 % Metlife may well be the fourth life insurance company to list on stock exchanges as the company looks to raise funds, three people close to the development said.The company could be valued at over `8,000 crore.

PSB banks: Top executives of some large public sector lenders have said potential takeover targets should be profit-making and the management should get at least three years to ensure smooth transition after merger.

[“Source-economictimes”]