Top 5 stocks in focus on August 20: Infosys, ONGC to L&T, here are the 5 newsmakers of the day
Infosys: India's second largest IT services firm, Infosys, has accepted the resignation of its CFO MD Ranganath. He has resigned after an 18-year stint at the firm.
The domestic stock markets on Friday closed in green but there were certain stocks that came into news after the market was closed for trading and can have an impact on the market during the trading session on Monday, .i.e. on August 20, 2018. Here is the list of five stocks:
Larsen & Toubro: The construction and engineering major on Saturday informed the stock exchanges that its board would consider a proposal for buyback of equity shares next week. The proposal for buyback will be taken into consideration at the board's meet scheduled to be held on August 23, 2018. If approved, this would be the first-ever buyback by the firm.
Infosys: India's second largest IT services firm, Infosys, has accepted the resignation of its CFO MD Ranganath. He has resigned after an 18-year stint at the firm. The company's co-founder NR Narayana Murthy has said that his exit is an irreplaceable loss for the firm.
Oil and Natural Gas Corporation (ONGC): The government has dropped a plan to ask ONGC to resume sharing its fuel subsidy burden if the Indian basket of crude breaches $70 a barrel.
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Navneet Education Limited: The company's board is scheduled to meet today, August 20, 2018, to consider and approve the proposal of buyback of equity shares of the company.
Gitanjali Gems & Amtek Auto: Leading exchanges NSE and BSE will suspend trading in shares of as many as nine firms including Gitanjali Gems and Amtek Auto, from September 10 for not complying with listing norms pertaining to submission of financial results.