Top 5 stocks in focus on August 16: Kotak Mahindra Bank, Jet Airways to MCX, here are the 5 newsmakers of the day
Indian stock markets on Tuesday opened in the negative and then ran up to 37,852 points and 11,435.10 points - S&P BSE Sensex and Nifty 50, respectively. But there were certain stocks that made news after the markets were closed for the day and can have an impact on August 16, 2018.
Indian stock markets on Tuesday opened in the negative and then ran up to 37,852 points and 11,435.10 points - S&P BSE Sensex and Nifty 50, respectively. But there were certain stocks that made news after the markets were closed for the day and can have an impact on August 16, 2018. Here is the list of five such stocks:
Kotak Mahindra Bank Ltd.: The Reserve Bank of India (RBI) has rejected the private sector lender Kotak Mahindra Bank’s plan for dilution of promoter stake. The bank sought to lower promoters stake to 20 per cent, as stipulated, by selling nonconvertible perpetual noncumulative preference shares (PNCPS) to a group of investors earlier this month.
Jet Airways: The second largest domestic airlines by market share, which is grappling with financial woes, has said that it has not at any time defaulted on its payment obligations with the lenders who have issued certificates to this extent as well on a regular basis.
Reliance Industries: The company that operates the world's largest refining complex has said that one of its units at the Jamnagar refinery has been shut down temporarily. It has declared force majeure on gasoline exports from its Jamnagar site. In a statement filed at NSE, the company has said that it has shut one of its FCC units and that the unit is expected to restart within two weeks. In addition, Reliance Brands, a Reliance Industries Ltd (RIL) subsidiary, has purchased an additional 12.56 per cent stake in Genesis Colors Limited (GCL) for about Rs 52.77 crore. With this, Reliance stake in the company has gone up to 46.39 per cent.
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Multi Commodity Exchange (MCX): The country’s largest commodity exchange in terms of market share, will commence trading in rubber futures contracts from August 16. The new contract is aimed at offering a hedging solution to participants in the rubber value chain, including exporters, traders, growers, importers and tyre manufacturing companies among others.
Cox & Kings: The Tour and travel firm has reported its Unaudited Financial Results (Standalone and Consolidated) for the Quarter ended June 30, 2018, and has reported 35.12 per cent fall in consolidated net profit to Rs 136.85 crore for the quarter. Its consolidated total income from operations stood at Rs 2,201.58 crore for the reported quarter.