Stocks in Focus on April 30: Kotak Mahindra Bank, Vodafone Idea, Just Dail, M&M Finance to Bandhan Bank; here are expected 5 Newsmakers of the Day
Stocks in Focus on April 30: Kotak Mahindra Bank, Vodafone Idea, Just Dail, M&M Finance, Bandhan Bank are expected to remain newsmakes throughout the intraday trade session.
Stocks in Focus on April 30: Domestic markets closed in green amid firm global cues on Wednesday, April 29, 2020. The upbeat mood comes amid an increased focus on the easing of lockdown measures globally. The 30-share index, Sensex surged 506 points or 1.89% to 32,720.16, while Nifty 50 advanced 172.45 points or 1.84% to 9,553.35 But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Thursday, April 30, 2020. List of such five stocks:
Just dial: The Company’s board is scheduled to meet today to consider share buyback proposal of fully paid-up equity shares.
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Wadia Group Companies (Bombay dyeing/Britannia/National Peroxide/Bombay Burmah): Ness Wadia, along with four of his group’s listed entities, has settled proceedings with the capital markets regulator, SEBI, for allegedly failing to make timely disclosure regarding the promoter’s arrest in Japan in March 2019. Mr Wadia and entities namely, Britannia Industries, Bombay Dyeing and Manufacturing Company, Bombay Burmah Trading Company, and National Peroxide paid a settlement amount totalling Rs 1.10 crore to the Securities and Exchange Board of India. While Mr Wadia settled the proceedings by paying Rs 23.41 lakh, each of the four listed entities paid Rs 21.67 lakh each.
M&M Finance: Mahindra & Mahindra Financial Services has divested 49% stake in its wholly-owned subsidiary, Mahindra Asset Management Company to Manulife Investment Management (Singapore) for Rs 265 crore.
Kotak Mahindra Bank / Bandhan Bank: The Reserve Bank of India is likely to raise the 15% ceiling on promoter shareholding in private sector lenders as part of new rules that are being framed. However, voting rights will be capped at 15-20%.
Vodafone Idea: The Supreme Court on Wednesday granted partial relief to the telecom major by asking the income tax department to refund Rs 733 crore to the company within four weeks, for the assessment year 2014-15.
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