Fortis Healthcare, HCL Tech among top five stocks hogging limelight today

The Sensex and Nifty are expected to extend Thursday's gains today tracking positive trend in Asian markets following gains on Wall Street overnight, as concerns over an escalating US trade war with China took a breather. 

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.2 percent, building on a 0.6 percent rise on Thursday, after US stocks ended the day higher. Australian shares also gained 0.2 percent, while Japan's Nikkei stock index was 1.2 percent higher.

On Thursday, the Dow Jones Industrial Average rose 0.91 percent to 24,924.89, the S&P 500 gained 0.87 percent to 2,798.29 and the Nasdaq Composite added 1.39 percent to 7,823.92.

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Here are top five stocks in focus today:

Cyient: Cyient Limited, a city-based IT firm today said its profit after tax for the quarter ended June 30 was down by six per cent to Rs 82.5 crore against Rs 87.8 crore during the same quarter in FY 18. According to a press release and an investor presentation by the company, revenues from operations was up by 19 per cent to Rs 1080 crore during the quarter under discussion. It was Rs 907 crore in the first quarter of FY 18.

Fortis Healthcare: The Board of Directors of Fortis Healthcare has picked the binding investment proposal from Malaysia’s IHH Healthcare Berhad to invest Rs 4,000 crores by way of preferential allotment at a price per share of Rs 170/share as the winning bid. 

HCL Tech: Indian IT company HCL Technologies today said its board has approved up to Rs 4,000 crore buyback plan, involving up to 3.63 crore shares at a price of Rs 1,100 per equity share. The buyback price translates into a 9.4 per cent premium over Thursday's closing price of HCL Tech shares.

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IDBI Bank: A section of IDBI Bank officers has threatened to go on a six-day strike from Monday in protest against the proposed acquisition of the state-owned lender by insurance behemoth LIC and wage-related issues, among others. "It is advised that the bank has received notice from a section of officers that they propose to go on strike from July 16, 2018 to July 21, 2018," IDBI Bank said in a regulatory filing.

Cadila Healthcare: Share price of Cadila Healthcare gained 0.5 per cent intraday Thursday as company received final approval from the USFDA for Zolmitriptan tablets USP. Zydus Cadila has received the final approval from the USFDA to market Zolmitriptan Tablets, 2.5 mg and 5 mg. It is used to treat migraines.