Top stocks in focus today: ICICI Bank, SBI, PNB, Cipla, IDBI Bank, PVR

By: | Published: June 11, 2018 9:24 AM

Indian stock markets are likely to begin lower marginally higher on Monday following the uptick in the regional Asian peers ahead of the historic US-North Korea summit in which Donald Trump and Kim Jong-un will be meeting for the first time in Singapore on 12 June.

The global indicator of NSE Nifty, SGX Nifty Futures was trading up 0.27% at 10,777.5 on the Singapore Exchange on Monday. (Image: Wiki)

Indian stock markets are likely to begin lower marginally higher on Monday following the uptick in the regional Asian peers ahead of the historic US-North Korea summit in which Donald Trump and Kim Jong-un will be meeting for the first time in Singapore on 12 June. According to a Reuters report, Asia stocks shook off initial modest losses and edged up on Monday ahead of a US-North Korea summit that might ease regional tensions, while investors also started to focus on key central bank meetings later this week. The global indicator of NSE Nifty, SGX Nifty Futures was trading up 0.27% at 10,777.5 on the Singapore Exchange on Monday.

These shares will be in the news today

PNB: PNB is hopeful of Rs 8,000 crore recovery from bad loans in the first quarter of the current fiscal, PTI reported. Also, Punjab National Bank is planning to divest stake in its subsidiary PNB Housing Finance and other entities like BSE, ICRA and Crisil.

Cipla: Cipla is bullish on growth and is looking for a billion dollar consolidated revenue for the domestic market in FY19, PTI reported citing an unidentified official.

IDBI Bank: The government is weighing various options, including Qualified Institutional Placement (QIP), to bring down its stake in IDBI Bank, PTI reported citing a finance ministry official.

ICICI Bank: ICICI Bank’s matter involving CEO Chanda Kochhar and her family members has also come under the scanner of the US markets regulator SEC, PTI reported.

SBI: SBI will conduct an auction of 12 non-performing accounts (NPAs) later this month to recover dues of over Rs 1,325 crore. Further, SBI is expecting to recover around Rs 30,000 crore from the resolution process under the Insolvency and
Bankruptcy Code (IBC) during the current fiscal, PTI reported citing an unidentified official.

Wockhardt: Wockhardt’s board has approved raising up to Rs 1,500 crore.

PVR: Foreign investor Baron Emerging Markets Fund has sold 5.67 lakh shares of PVR for over Rs 75 crore, in the open market transactions.

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