ICICI Bank, Asian Paints among top five stocks in focus today

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.17 per cent. The index extended gains from the previous day, when it was lifted after China said it will adopt a more vigorous fiscal policy to help tackle external uncertainties.

ICICI Bank, Asian Paints among top five stocks in focus today
Asian Paints, one of the largest paint companies in India, reported 30 percent profit growth in June quarter. Image source: Pixabay
By ZeeBiz WebTeam
Updated: Wed, Jul 25, 2018
07:56 am
ZeeBiz WebDesk
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The Sensex and Nifty may hit their record highs in Wednesday's trade tracking positive trend in Asian markets, which rode higher thanks to strong US corporate earnings and hopes China will boost fiscal support for its economy. At 7:50 am, SGX Nifty was trading at 11,149, up 6.50 points or 0.06 per cent.

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.17 per cent. The index extended gains from the previous day, when it was lifted after China said it will adopt a more vigorous fiscal policy to help tackle external uncertainties.

Australian stocks dipped 0.1 per cent, South Korea's KOSPI advanced 0.35 percent and Japan's Nikkei rose 0.5 per cent. Overnight on Wall Street, the S&P 500 closed at its highest level since Feb. 1 as Alphabet's blowout results bolstered expectations of a robust earnings season.

Here are top stocks in focus today:

PVR, Inox Leisure: The hearing on public interest litigation by a Mumbai resident against prohibiting people from carrying personal food items into film theatres is lined up at Bombay High Court later today. 

Asian Paints: Asian Paints, one of the largest paint companies in India, reported 30 percent profit growth in June quarter, backed by operational performance and product price hike. The growth was also due to low base in the previous year. Consolidated profit for the quarter stood at Rs 571.3 crore, which increased from Rs 440.7 crore in corresponding period last fiscal.

ICICI Bank: Private sector lender ICICI Bank has acquired a 9.9 per cent stake in fintech firm Arthashastra Fintech Private Limited for a cash consideration of Rs 8.27 crore. Arthashastra Fintech was founded in December 2015 and provides a deferred payment option for purchasing goods and services with third-party merchants.

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Punj Lloyd: The application filed by ICICI Bank before the National Company Law Tribunal (NCLT) under Section 7 of the Insolvency and Bankruptcy Code is listed for hearing before the NCLT today. State Bank of India (SBI) has also filed an application for intervention in the proceedings.

Wonderla Holidays: Promoters of the company bought 20,000 shares of the company on July 23. The company is scheduled to report its quaterly earnings on August 7, 2018.