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Top Ten Stocks to Track in Trade on June 11

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The Nifty opened flat on Wednesday. Indian stock markets ended flat on Tuesday after hitting record highs for the third consecutive session as gains in defensive stocks were offset by profit-taking in the broader market. Overseas investors remained net buyers of Indian equities and bought cash shares worth Rs 682 crore on Tuesday. However, DIIs sold shares worth Rs 1,215.47 crore in the cash market.
Here are the stocks to track in trade today
  1. L&T Finance's Rs 204 crore OFS (Offer For Sale) is set to hit markets today. Larsen & Tubro will sell 0.96 per cent stake in L&T Finance in this OFS. Floor price of the OFS is set at Rs 74 per share as compared to current market price of Rs 82.
  2. State Bank of India is planning to merge its five associate banks with itself, chairman Arundhati Bhattacharya has indicated.
  3. Future Retail board will meet today to consider fund raising. The company is likely to opt for Rs 600 crore QIP to repay debt.
  4. Morgan Stanley Asia bought 3.26 lakh shares in Strides Arcolab at Rs 623.6 per share.
  5. Future Lifestyle Fashions has acquired 12 per cent stake in Unico Retail, which sells handbags, belts and wallets under the brand name 'Peperone'.
  6. Larsen & Tubro will raise Rs 3,600 crore by selling shares. L&T is seeking Sebi's approval to issue equity shares.
  7. SpiceJet has launched another round of low fares for flyers. It offers fares as low as Rs 1,999 under 'Monsoon Sale' scheme. This offer is applicable only for three days.
  8. JP Morgan maintains underweight on Hindustan Unilever with a target price at Rs 610 per share. The brokerage says at current price the stock is looking expensive given the fact that management has already given a cautiously optimistic near-term outlook in its annual report.
  9. Credit Suisse maintains outperform on Apollo Tyres with a target price at Rs 233 per share. The brokerage has increased its FY15-16 earning per share estimate by 7-14 per cent. Credit Suisse believes raw material environment may continue to remain benign in the near future.
  10. Deutsche Bank has upgraded Kotak Bank to buy with a target price of Rs 1,080 per share. It says Kotak Bank is ideally positioned to benefit from equity market revival. Kotak Bank's focus on growing franchise will support its long term earnings growth said Deutsche Bank.


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