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    ICICI Bank, Ruchi Soya, DRL and Vedanta among top stocks to watch today

    Synopsis

    Here is a list of top stocks that are likely to be in focus in today's trading session -

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    The merger of Vodafone India and Idea Cellular may get a conditional approval by the Department of Telecommunications (DoT) in the next couple of days, says an ET report.
    NEW DELHI: The domestic equity market is likely to open in the red on Monday, tracking weak global cues and Nifty futures of the Singapore Stock Exchange (SGX). At 08:09 am, the Nifty futures on SGX were trading 50 points or 0.46 per cent lower at 10,776, indicating a negative start for Nifty50.

    Here is a list of top stocks that are likely to be in focus in today's trading session -

    ICICI Bank: According to a report by ET, ICICI Prudential Life chief Sandeep Bakhshi may be named ICICI Bank interim CEO. The rearrangement is being contemplated by the board as BN Srikrishna, a retired Supreme Court judge, investigates the role of Kochhar, who is likely to be on leave until the investigation is complete, the report added.

    Ruchi Soya: Adani Wilmar, a JV between the infrastructure conglomerate founded by Gautam Adani and Singapore’s Wilmar looks set to emerge victorious in the bidding for Ruchi Soya. Ruchi Soya is one of the 40 companies that had been identified by the Reserve Bank of India to be referred to the bankruptcy courts for effective debt resolution.

    Dr Reddy's, Vedanta: The BSE Sensex composition is all set for a reshuffle, where Vedanta will replace Dr Reddy's Labs. The healthcare sector will hit an eight-year low as it stands to lose most in terms of weight (-70 bps to 1.7 per cent), with Dr Reddy's exit. This apart, US court has restrained Dr Reddy’s from selling generic variant of Suboxone.

    Idea Cellular: The merger of Vodafone India and Idea Cellular may get a conditional approval by the Department of Telecommunications (DoT) in the next couple of days, says an ET report.

    RCom: Distributors of Aircel and Reliance Communications (RCom) have alleged that most of their payments have not come in and whatever settlement amount has been made is a fraction of the dues that the debt-laden telcos owe them.

    NBCC: The state-owned construction firm plans to acquire two public sector companies in the construction sector with a total investment of up to Rs 500 crore, according to media reports.

    PNB: Wilful defaulters borrowing Rs 25 lakh and above owed more than Rs 15,490 crore to PNB as of May end, up 2 per cent from the preceding month, says a PTI report.

    Avenue Supermarts: HSBC has maintained ‘buy’ rating on Avenue Supermarts and raised target price to Rs 1,850 from Rs 1,600. Shares of Avenue Supermarts ended down 1.9 per cent at Rs 1,538.10 on Friday.

    HDFC: CLSA has maintained ‘buy’ rating on Housing Development Finance Corp with a target price of Rs 2,200. The brokerage expects core operating profit growth of HDFC to accelerate from 11 per cent over the past three years to a 20 per cent CAGR in FY18-FY21 led by a pickup in loan growth.

    Tata Steel: According to a report by Bloomberg Quint, Thyssenkrupp AG’s top shareholders are skeptical about the company’s plan to combine European steel operations with Tata Steel, and have discussed voting against the proposal at a board meeting as early as next week.

    State-run oil PSUs: State oil companies are planning to add an unprecedented 25,000 petrol pumps. The oil ministry has also scrapped an official policy on petrol pump dealers’ appointment, giving fuel retailers such as Indian Oil, Hindustan Petroleum and Bharat Petroleum the freedom to design their own rules for setting up filling stations, according to industry executives familiar with the matter.

    Infosys: The IT major is in the process of expanding its Pune campus by nearly 4,000 seats to 35, 000 and company sought necessary environment clearances from the Ministry of Environment, PTI reported.

    PNC Infratech: The company on Friday said the UP government has decided to reinvite bids for Purvanchal Expressway and cancelled the company's Rs 1,738.44 crore offer made earlier. PNC Infratech was declared the lowest bidder for the 4th package of the project for a quoted price of Rs 1,738.44 crore.

    Shreyas Shipping and Logistics: Avana Logistek (Avana), an associate of Shreyas Shipping and Logistics, on Friday filed DRHP with the Sebi, to undertake an initial public offering (IPO) of its equity shares of face value of Rs 5 each (the "Equity Shares").

    Kanoria Chemicals: With capacity of 1 lakh TPA Kanoria Chemicals & Industries is setting up a Formaldehyde plant with a capacity of 1,00,000 TPA at Naidupeta, District Nellore in the State of Andhra Pradesh, Capital Market reported.

    Panacea Biotec: Panacea Biotec along with the partner Apotex has settled patent dispute with Celgene Corp.



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    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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