Shares in focus: ICICI Bank, PNB, Fortis, Vakrangee, HPCL, Indiabulls Ventures, United Spirits

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Published: May 7, 2018 9:17:09 AM

Indian stock markets are likely to open marginally higher on Monday ahead of the major Q4 corporate earnings lined up with the nation's second-largest private lender ICICI Bank and the Karnataka Assembly Elections 2018.

The early indicator of NSE Nifty, SGX Nifty Futures was trading little changed, up 0.16% at 10,684.5 on the Singapore Exchange on Monday. (Image: Wiki)

Indian stock markets are likely to open marginally higher on Monday ahead of the major Q4 corporate earnings lined up with the nation’s second-largest private lender ICICI Bank and the Karnataka Assembly Elections 2018. Shares of Exide Industries, Firstsource Solutions, Inox Leisure, Pfizer, Talwalkars Better Value Fitness, Tata Chemicals, Tata Coffee, Tata Investment Corporation, Vijaya Bank and Zee Learn will be in a close watch as these companies are also scheduled to announce their respective fourth-quarter earnings. The early indicator of NSE Nifty, SGX Nifty Futures was trading little changed, up 0.16% at 10,684.5 on the Singapore Exchange on Monday.

ICICI Bank: The board of ICICI Bank may see some discussion on the allegations of conflict of interest against the lender’s CEO Chanda Kochhar, PTI reported citing unidentified sources.

Punjab National BankPunjab National Bank (PNB) aims to grow its total business by 10.8% and close the current fiscal with to Rs 12 lakh crore on the back of increased focus on CASA mobilisation, PTI said in a report.

Fortis Healthcare: Manipal Health Enterprises its offer for Fortis Healthcare raising the value to Rs 8,358 crore. “For the purposes of the merger, we propose a value of Rs 8,358 crore to be attributed to FHL and a value of Rs 6,070 crore to be attributed to MHEPL,” Fortis Healthcare said in an exchange filing.

Vakrangee: Price Waterhouse has quit audit mandate of technology firm Vakrangee Ltd, flagging concerns to the corporate affairs ministry about the books of accounts, mainly related to its bullion and jewellery business, even as the company denied any irregularities.

HPCLHPCL has launched home-delivery of diesel in Mumbai and has plans to expand doorstep delivery of the fuel to other parts of the country.

Indiabulls VenturesIndiabulls Ventures’ board has approved to raise around Rs 2,063 crore via share sale to certain foreign investors in order to capitalise and fund its two subsidiaries –IVL Finance and Indiabulls Asset Reconstruction Company.

Ambuja CementsAmbuja Cements reported a 29.56% increase in consolidated net profit to Rs 514.34 crore for the first quarter ended 31 March 2018.

United SpiritsUnited Spirits would seek shareholders approval for splitting its every share of face value of Rs 10 into five shares of face value of Rs 2 each.

Wockhardt: Wockhardt’s consolidated net loss narrowed to Rs 154.55 crore in the fourth quarter ended 31 March 2018.

Capital First: Capital First reported a 35% rise in profit after tax to Rs 95.30 crore for the quarter ended 31 March 2018.

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