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A few stocks in focus for on Wednesday

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Commodity Market, BSE,Some companies likely post their financial results today, 31 May 2017, that include Castrol India, Bombay Potteries & Tiles and Raghav Ramming Mass among others.

Indian Hydropower generation company, NHPC Limited reported a standalone net profit at Rs 168.42 Cr, in the quarter ended March 31, 2017, as against Rs. 245.48 Cr, in the corresponding quarter of last year.

The second largest airline company, Jet Airways, has reported 95% decline in consolidated net profit at Rs. 23.00 cr, for the quarter ended March 31, 2017, on account of to higher fuel prices and lower fares. In the same quarter of Last year, the company had reported a net profit of Rs 426.00 Crore.

The leading Steel company, Steel Authority of India Ltd (SAIL India) has reported a net loss of Rs. 771.3 cr, for the Q4FY17, as against Rs 1184.64 Cr, in the corresponding quarter of the last year.

Gitanjali Gems has posted a consolidated net profit of Rs 5.14 crore for the quarter ended March 31, 2017, on higher income, versus a net loss of Rs 23.24 Cr, in the corresponding quarter of the previous year.  Net income went up to Rs 5,544.64 Cr, in the Jan-March quarter of 2016-17 financial year from Rs 4,282.73 Cr, in the year-ago period.

IPO of HUDCO witness stellar response; over-subscribed by 3 times

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The Initial Public Offering (IPO) of Housing & IPO, HUDCO, money makerUrban Development Corporation (HUDCO) has been subscribed 3-times on the third day of bidding today. The bidding  for HUDCO’s IPO was opened on BSE and NSE on Monday, 8th May 2017.
The reported subscription of qualified institutional investors today showed 3-times of the reserved portion, while retail investors more than 4-times the portion earmarked for them, and the allocation kept for Non-Institutional  investors was fully subscribed at 94 percent.
HUDCO IPO’s price band was set in the range of Rs 56 to 60 per share with a discount of Rs 2.00 per share for retail investors.
The IPO  is a part of government’s endeavors to meet its disinvestment targets. The government aim to divest 10 percent of its shares through the public offer, which will be open for bidding till today, 11 May 2017. The govt will sell all the 20,01,90,000 shares on offer through OFS route.