Top Stocks To be Focused 15 June 2017

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IOCBSE -1.58 %, BPCLBSE -2.83 % and HPCL: State-owned oil firms IOC, BPCL and HPCLBSE -2.32 % on Wednesday signed an agreement to jointly set up the world’s largest refinery and petrochemical complex at Ratnagiri district of Maharashtra at a cost of $40 billion.

Reliance Communications: Reliance Communications Chairman Anil Ambani will not take any salary or commission in the current financial year as the company is reeling under huge debt and credit downgrades.

SpiceJet: Low fare carrier SpiceJetBSE 1.77 % is likely to place an order for the Boeing 737 Max-10 planes at the aircraft’s debut at the Paris Air Show later this month, thus becoming one of its launch customers globally .

Mphasis: IT company Mphasis has raised $500 million by selling dollar bonds as it aims to repay existing loans taken by global private equity major Blackstone, which holds a controlling stake in the firm.

Bharat Financial Inclusion: Expanding its footprint across the length and breadth of the country, micro-finance lender Bharat Financial Inclusion will bring around 2 lakh kirana stores to cater as service points with digital imprint. The expansion is to be done with the help of banks in a tie-up arrangement in 16 states.

Telecom players: Four major lenders, including SBI and HDFC BankBSE -0.34 %, on Wednesday voiced concerns over “stress” in the telecom sector and flagged possibility of defaults by debt-laden operators at a meeting with an inter-ministerial group.

Central Bank of India: Central Bank of IndiaBSE -1.52 % said that the Reserve Bank of India (RBI) has put the bank under prompt corrective action in view of high net non-performing assets (NPA) and negative return on assets (RoA). The bank believes that corrective measures arising out of the PCA will help in improving overall performance of the bank.

Wipro: WiproBSE 1.25 % announced that it has won IT Applications Managed Services engagement with Finnish company, Valmet, a leading global developer and supplier of technologies, automation and services for the pulp, paper, and energy industries. Valmet has selected Wipro as the partner for supporting its renewed Infor LN ERP platform. As part of the multi-year engagement, Wipro will deliver the maintenance and support of the new ERP platforms in a Managed Services model covering all global locations in which Valmet operates.

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