Here are the top stocks that are likely to be in focus today:
Tata Communication: Offer for sale (OFS) to divest government’s shareholding in Tata Communications will open Tuesday for institutional investors. The government will sell its 10 per cent stake held in erstwhile VSNL, with an option to sell an additional 6.12 per cent stake. The floor price has been set at Rs 1,161, a 9.8 per cent discount to Monday s closing price.
AU Small Finance Bank: The lender has raised Rs 625.50 crore through sale of shares to institutional investors.
Adani Ports: The company will partner with John Keells Holdings PLC and Sri Lankan Port Authority to develop the West Container Terminal (WCT) at the Colombo port in Sri Lanka.
Nippon Life India Asset Management Re-appoints Sikka As, Executive Director, CEO bloombergquint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloombergquint.com Daily Mail and Mail on Sunday newspapers.
According to Sharekhan, Mahindra Lifespace Developers has a strong management team that can help scale up its sales and execution over the next 2-3 years. Moreover, the company is expected to benefit from the government’s relentless focus on affordable housing segments, rising affordability levels, favourable state government policies for real estate, and ample inorganic growth opportunities in the sector. The company’s low gearing (current.
“AMCs underperformed over the last one year but will be leveraged to higher market levels,” Jefferies said. “TER (total expense ratio) hit from revised norms should be manageable and concerns around ETFs seem overdone.”
Synopsis
Total income rose by 11 per cent to Rs 399 crore during the quarter under review from Rs 360.64 crore in three months ended December 31, 2019.
Agencies
Nippon Life India Asset Management (NAM India) on Wednesday reported a 42 per cent jump in profit after tax at Rs 212 crore for three months ended December 31, 2020. In comparison, the company had a profit after tax (PAT) of Rs 149.30 crore in the year-ago period, NAM India said in a regulatory filing to stock exchanges. Total income rose by 11 per cent to Rs 399 crore during the quarter under review from Rs 360.64 crore in three months ended December 31, 2019. In addition, the company s board approved interim dividend of Rs 3 per share.