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Top stocks in focus: Mahindra & Mahindra, RITES, Maruti, BPCL and GAIL | 25th Sept


Mahindra & Mahindra
The auto major converted 480 CCPS of Sampo into 1,440 equity shares. Automotive major Mahindra & Mahindra Ltd (M&M) has bought more shares in Sampo Rosenlew Oy, with the move resulting in a controlling stake in the Finland-based harvester maker.

RITES: The company it has bagged a Rs 206 crore contract to construct four road over bridges in Andhra Pradesh from Indian Railways. "RITES Ltd has been awarded a turnkey contract for construction of (ROBs) in replacement of existing level crossings on competition basis from Railway Board amounting to Rs 205.85 crore," the company said in a statement.

Citi has maintained a Buy rating with a target at `8350/share saying Maruti is the top auto pick. The brokerage said that Maruti is slightly impacted by Kia till now but they do not see Maruti’s hegemony in PVs being threatened.

CLSA has maintained a Sell rating with a target at `360/share saying the deadline to submit expressions of interest is 30 September and supermajors’ acquisition behaviour suggests limited interest in refining

GAIL said that ONGC plant fire has cut 30 MMSCMD gas supply and has cut gas supplies to end-users by 40% citing force majeure. It is continuing to maintain supplies for the city gas distribution.