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Top stocks in focus on Friday, 2 June 2017 – Economic Times

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Domestic equity markets are likely to open in green on Friday tracking Nifty futures on the Singapore Stock Exchange and mixed global cues.

SGX Nifty was up 41.50 points, or 0.43 per cent, at 9,674.50 around 7.55 am (IST), indicating a positive start for NSE Nifty index.

On Wall Street, the Dow Jones Industrial Average rose 135.53 points, or 0.65 per cent, to 21,144.18, the S&P 500 gained 18.26 points, or 0.76 per cent, to 2,430.06 and the Nasdaq Composite added 48.31 points, or 0.78 per cent, to 6,246.83.

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

TVS Motor Company: The auto company on Thursday reported a 16 per cent increase in total sales at 2,82,007 units in May. The Chennai-based company had sold 2,43,783 units in May 2016. Total two-wheeler sales during the month increased 15.6 per cent to 2,75,426 units.

Bank of India: Weighed down by sticky loans and net losses, the state-run Bank of India has decided to go for one-time settlements (OTS) of loans with errant borrowers as one of the key recovery strategies. The lender, with a pile of non-performing assets running to Rs 52,045 crore, is ready to take the OTS route for all borrower segments, general manager SK Aggarwal told ET.

Coal India: State-owned Coal India produced 79 million tonnes (MT) of coal in the first two months of the ongoing fiscal, missing the target by 7 MT. Coal India (CIL) which accounts for over 80 per cent of domestic coal production is eyeing one billion tonnes of output by 2020. The company’s production target in April-May was 86.5 MT, CIL said in a BSE filing.

Reliance Communications: Fitch downgraded telecom operator Reliance Communications to junk grade saying loan default is a “real possibility” and red flagged its poor liquidity and excessive refinancing risk.

Adani Power: Rating company Crisil Ltd accused the Gautam Adani-led Adani Power (APL) of not providing it with details of operations while reaffirming its stable outlook and double B minus rating, three notches below investment grade, on Rs 6,559 crore of credit facilities.

PNC Infratech: The company’s net profit shrinked 77 per cent to Rs 33.74 crore during the fourth quarter ended March 31, 2017. It had posted a net profit after taxes, minority interest and share in profit/(loss) of associates of Rs 145.58 crore during the same period a year ago, it said in a BSE filing.

HPCL: State-run Hindustan Petroleum Corporation (HPCL) has sought shareholders’ nod for issuing one bonus share for every two held, capitalising reserves of about Rs 508 crore. The company has proposed an ordinary resolution through postal ballot for capitalisation of Rs 507.94 crore standing to the credit of Security Premium/Free Reserves and issue bonus shares of Rs 10 each.

Bharti Airtel: Bharti Airtel, the country’s No.1 phone company , said it received approvals from the Securities & Exchange Board of India, BSE and the National Stock Exchange of India for its proposed merger with Telenor India.

L&T, Reliance Infra, ILFS and Jaiprakash Ventures: These companies are in the race for the Government of India’s ambitious Rs 10,000-crore project to build the Zojila tunnel connecting Srinagar and LehLadakh, two sources told ET.

NBCC: In a big-ticket real estate deal, state-owned NBCC Ltd has sold nearly 3 lakh sq ft office space in an upcoming commercial tower at Nauroji Nagar in South Delhi for Rs 1,100 crore to five companies — PFC, HDFC, HPCL, SIDBI and Energy Efficiency Services.

HDFC: As part of greenfield expansion outside India, country’s largest mortgage lender HDFC Ltd has acquired a 15 per cent stake in Tanzania’s First Housing Finance for $1.5 million. First Housing Finance (Tanzania) is the first housing finance company in the country that still has to commence operations.

Hero MotoCorp: Hero MotoCorp (HMCL) said its total motorcycle sales grew 8.7 per cent to 6.33 lakh units in May 2017 over May 2016. The announcement was made after market hours on Thursday.

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