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Fortis Healthcare, Sun TV, Oberoi Realty among 11 stocks hogging limelight in Monday’s trade

Fortis Healthcare, Sun TV, Oberoi Realty among 11 stocks hogging limelight in Monday’s trade

Fortis Healthcare stocks will remain in limelight after its board okayed demerger of its diagnostics business into another group firm Fortis Malar Hospitals.

The BSE Sensex and NSE Nifty opened flat on Monday after appointment of Urjit Patel as new RBI Governor amid mixed global cues. Patel will succeed Raghuram Rajan, whose tenure ends on September 4. At 9.35 am, Sensex was trading 16.26 points up at 28,093.26, while NSE Nifty was trading 3.75 points up at 8,670.65.

Below are the 11 stocks that are in focus today

Oberoi Realty: Stocks of the company were trading 6.08 per cent up at Rs 316 (9.38 am) after it announced its first quarter results on Saturday. Its consolidated net profit rose by 33 per cent to Rs 108.88 crore for the quarter ended June as against net profit stood of Rs 81.93 crore in the year-ago period.

NTPC: Stocks of the public sector company will be in focus as it has received bids amounting to Rs 1,250 crore for its taxable secured non-convertible debentures issue of Rs 500 crore.

Sun TV Network: Stocks of the company will be in focus as it posted a 19 per cent increase in net profit at Rs 233.1 crore for the first quarter ended June as compared to Rs 195.8 crore in the same period last year.

Fortis Healthcare: Stocks of the company were trading 0.91 per cent up at Rs 189.50 (9.42 am) after its board okayed demerger of its diagnostics business into another group firm Fortis Malar Hospitals. The company said in a BSE filing that company’s board approved a proposal to demerge its diagnostics business, including that housed in its subsidiary SRL Ltd into another majority-owned subsidiary, Fortis Malar Hospitals pursuant to a composite scheme of arrangement and amalgamation.It had closed 3.27 per cent down at Rs 187.80 on Friday.

HCL Technologies: Stocks of the software company will be in focus as Competition Commission of India has cleared IT company’s equity swap deal to buy the business of Geometric. The deal excludes Geometric’s 58 per cent stake in 3DPLM Software Solutions – a joint venture with Dassault Systems. The fair trade regulator has also approved the merger of remaining undertaking of Geometric with 3DPLM. Dassault is to have 100 per cent stake in the 3DPLM. In April, HCL Technologies and Geometric signed an agreement for the deal.

NBCC (India): STocks of the company will hog limelight after it executed a Memorandum of Understanding (MOU) amounting Rs 120 crore (approximate) with Archaeological Survey of India (ASI), for construction of Institute of Archaeology and United Nations Educational, Scientific and Cultural Organization (UNESCO) Category-II Centre at Sector Knowledge Park-II, Greater Noida. Recently, Goa Shipyard has signed memorandum of agreement with NBCC (India) on August 08, 2016 for assigning the work for construction of Office Building for Mine Counter Measure Vessels (MCMV) and additional space in the Yard of Goa Shipyard, Goa valuing around Rs 100 crore.

IL&FS Engineering and Construction Company: Stocks of the company will be in focus as it in joint venture with Unitech Power Transmission have received a Letter of Acceptance (LoA) from Power Grid Corporation of India (PGCIL) for Supply Contract for Tower Package- TW05 for 765KV D/C Turnkey Transmission Line Project in Gujarat. The value of the contract is Rs 136.26 crore.

Thomas Cook India: Stocks of the company will remian in focus as its wholly owned subsidiary – Thomas Cook Lanka, has entered into a Share Purchase Agreement (SPA) for the purpose of acquiring 24% of the issued, subscribed and paid up share capital of Sita World Travel Lanka by way of purchase from the minority promoters.

Tata Steel: The company has dropped plans to set up a ferrochrome complex at Gopalpur in Odisha but will build a plant with a capacity of 55,000 tonnes at the same place. Work on the 55,000 tonne plant at Gopalpur, built at a cost of Rs 542 crore, is nearing completion and the unit is slated for commissioning.

Power Grid Corp: Stocks of the company will be in focus as its board has approved three investment proposals worth Rs 733.32 crore for power transmission related projects.

Banking stocks: Stocks of banking companies will be in limelight after Urjit Patel was appointed new RBI Governor Raghuram Rajan.

Source: http://www.financialexpress.com/markets/indian-markets/stocks-in-focus-news-trending-on-bse-sensex-nse-nifty-on-august-22-2016/353448/

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