Stocks that are in focus today: Mindtree, Tata Motors, Essar Oil

By: | Published: July 17, 2015 10:03 AM

At 9.47 am, Sensex was up 33.48 points at 28,479.60. Similarly, Nifty was up 0.65 points at 8,608.70 during the same time.

BSE SensexAt 9.47 am, Sensex was up 33.48 points at 28,479.60. Similarly, Nifty was up 0.65 points at 8,608.70 during the same time. (Reuters)

Continuing with its rising trend, the BSE Sensex rose by 130.20 points, or 0.45 per cent, to 28,576.32 in early trade on Friday. Nifty reclaimed 8,600 in morning trade.

At 9.47 am, Sensex was up 33.48 points at 28,479.60. Similarly, Nifty was up 0.65 points at 8,608.70 during the same time.

Stocks that may remain in focus today:

Mindtree: The mid-sized information technology company on Thursday posted 6.8 per cent jump in net profit to Rs 138.2 crore in the first quarter of the fiscal and expressed confidence of beating industry body Nasscom’s revenue growth targets for the year. The company also announced the acquisition of UK-headquartered Bluefin Solutions for 42.3 million pounds (Rs 414.54 crore) and US-based Relational Solutions for $10 million to strengthen its presence in digital and analytics segement. At 9.40, the shares of the company’s were up 3.44 per cent on BSE at Rs 1271 on BSE. On NSE, the shares were up 3.63 per cent ar Rs 1270.

Tata Motors: The auto major has proposed to raise Rs 4,400 crore from Non-Convertible Debentures (NCDs) during the current fiscal to meet its expansion plan. It is proposed to issue NCDs on a private placement basis aggregating up to Rs 4,400 crore, in one or more series/tranches during the 12 months with an intention to substitute the short term liabilities/borrowings and for financing, part of the ongoing capital expenditure during the next 12 months as also for general corporate purposes. At 9.40, company’s shares were down 0.30 pc at Rs 393.90 on BSE. The shares were down 0.28 per cent at price Rs 394.15 on NSE.

Essar Oil: The Bombay Stock Exchange has approved the planned delisting of shares in Essar Oil Ltd, two sources familiar with the matter told Reuters. The delisting plan had already been approved by National Stock Exchange. Essar Oil, a unit of India’s diversified Essar Group, was given the BSE green light on Wednesday, the sources said. Essar Oil shares were up 3.10 pc on BSE at 9.41 am. On NSE, the shares were up 1.05 pc.

Asian Paints: Asian Paints, which is setting up Rs 1,700 crore plant in Andhra Pradesh, on Thursday said that it is considering setting up another facility in Karnataka. The company is in discussions with Karnataka government regarding issues and modalities as land and other regulatory clearances. At 9.42 am, the company’s shares were down 0.41 pc at Rs 842.80 on BSE. On NSE, the shares were up 0.14 pc at price of Rs 849.25.

Wockhardt: Wockhardt is recalling 1,62,142 cartons of various drugs, which are used to treat ailments like high blood pressure and ulcer, in the US market due to deviations in current good manufacturing practice norms laid down by the American health regulator.

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