STOCKS TO WATCH- Friday - Ashok Leyland, Axis bank, Glenmark, Sun TV
AstraZeneca Pharma Ltd:
AstraZeneca Pharma Ltd., drug maker, will be in focus after it reported an 84.08% increase in its standalone net profit at Rs 159.6 million for the third quarter ended December. The company had reported a net profit of Rs 86.7 million in October-December quarter a year ago.
Ashok Leyland Ltd:
Ashok Leyland Ltd., the commercial vehicle maker, will be in focus after it opened a new assembly plant in Bangladesh as it aims to make further inroads into the neighboring country. Built over a period of 15 months in Dhaka, the plant is spread over an area of 37 acres and is a joint collaboration between Ashok Leyland and IFAD Autos Limited, Bangladesh.
Axis Bank Ltd:
Axis Bank Ltd., the third largest private lender, will be in focus after it announced that it will raise $10 million (about Rs 670 million) by issuing floating rate bonds from its Dubai International Financial Centre (DIFC) branch.
BSE Ltd:
BSE Ltd., the India's leading stock exchange, will be in focus as it lists on rival National Stock Exchange on Friday. The issue was opened for subscription from Jan 23 to 25.
Godfrey Phillips Ltd:
Godfrey Phillips Ltd., the cigarette maker, will be in focus after it reported an over three-fold jump in its standalone net profit at Rs 384.4 million for the third quarter ended December 31, 2016. The company had reported a net profit of Rs 125.0 million in October-December quarter a year ago.
GE Power India Ltd:
GE India Power Ltd., the electrical engineering company, will be in focus after it posted a standalone net profit of Rs 1.21 billion for the Dec quarter on the back of higher revenues. The company recorded a standalone net loss of Rs 540.1 million in the quarter ended Dec 31, 2015.
Glenmark Pharmaceuticals Ltd:
Glenmark Pharmaceuticals Ltd., the drugmaker, will be in focus after it reported third quarter ended Dec 31, 2016, the company reported a net profit of Rs 4.77 billion against Rs 1.96 billion in the corresponding quarter last year.
Subros Ltd:
Subros Ltd., the automotive air conditioning parts maker, will be in focus after it received another major order of 306 kits from Indian Railways- Diesel Locomotive Works (DLW), Varanasi for which supplies are to be executed. The company has made efforts for developments of products to meet DLW's and CLW's requirements & expects continued business from Indian Railways in future also.
Sun TV Ltd:
Sun TV Ltd., the mass media service provider, will be in focus after it announced a special court on Thursday discharged former Telecom Minister Dayanidhi Maran, his brother Kalanithi Maran and others in the Aircel-Maxis deal cases lodged by CBI and the Enforcement Directorate (ED). Global brokerage house CLSA upgrade Sun TV from 'Buy' to 'Sell' with a target price of Rs 661 from Rs 438 earlier.
Earnings Today:
Aban Offshore, Adlabs Entertainment, Indian Hotels, Torrent Pharma and TTK Healthcare will announce their financial results for the quarter ended December 31, 2016 on Friday.
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