Stocks in Focus on April 26: Greaves Cotton, Reliance Home Finance and Hero MotoCorp; here are the 5 newsmakers of the day
There were several stocks that came in news after the market was closed for trading can have an impact on the markets after it reopens for trading on Tuesday, April 30, 2019.
Key indices, Sensex and Nifty, logged strong gains on Friday, April 26, 2019, on string buying demand in the index. Meanwhile, domestic stock markets were closed on Monday, 29 April 2019, because of the General Elections (Lok Sabha). However, there were several stocks that came in news after the market was closed for trading can have an impact on the markets after it reopens for trading on Tuesday, April 30, 2019. Here is the list of five such stocks:
Greaves Cotton: The Board of Directors of Greaves Cotton will be meeting on May 2, 2019, to consider and approve the Audited Financial Results of the company for the quarter and year ended on March 31, 2019. In addition, the board will also consider the proposal for buyback of equity shares of the company having a face value of Rs2 per share.
Sun Pharmaceutical Industries Ltd: The US Food and Drug Administration (USFDA) has issued a Form 483 to Sun Pharma for its Dadra plant. The plant has reportedly received 11 observations.
Reliance Home Finance: CARE Ratings Ltd. has downgraded Reliance Home Finance’s long-term debt program of Rs4,979 crore to Care D from Care BBB+ due to delay in servicing bank debt. Apart from this, Blackstone, Carlyle, Brookfield, and Piramal group, reportedly, are in talks to buy a large stake in Reliance Home Finance (RHFL), according to sources.
Hero MotoCorp: The two-wheeler major Hero MotoCorp on Friday, April 26, 2019, presented March quarter earnings and reported a 24.5 per cent year-on-year (YoY) fall in profit at Rs730 crore against 967.40 crore a year ago. Revenue declined 9 per cent in Q4 to Rs7885 crore from Rs8564 crore. EBITDA went down from Rs1096 crore from Rs1370 crore and the margin slipped to 13.6 per cent from 16 per cent. The company’s board has recommended a final dividend of Rs32 per equity share of Rs2 each (1,600 per cent) for 2018-19.
Cholamandalam Investment: The financial and investment service provider has presented its March quarter earnings and reported a rise of 2.46 per cent in its profit at Rs292 crore from Rs285 crore (YoY). The revenue went up 29.46 per cent to Rs1885 crore from Rs1456 crore.
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