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Business News » India News

Stocks in Focus on August 19: Sun Pharma, DHFL to CCD; here are the 5 Newsmakers of the Day

The domestic equity markets, Sensex and Nifty, ended marginally higher on Friday, August 16, 2019.

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Stocks in Focus on August 19: Sun Pharma, DHFL to CCD; here are the 5 Newsmakers of the Day
Image: Retuers File
Written By: ZeeBiz WebTeam
Updated: Mon, Aug 19, 2019
09:03 am
Mumbai, ZeeBiz WebDesk
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The domestic equity markets, Sensex and Nifty, ended marginally higher on Friday, August 16, 2019. Firmness in auto and banks shares supported the indices to close in green. However, certain stocks came in news after the markets were closed for trading purposes and can play an important role in driving the market on Friday, August 16, 2019. Here is a list of five such stocks:

Sun Pharmaceutical: Sun Pharma on Friday, August 16, 2019, said that it has granted an exclusive licence to a subsidiary of China Medical System Holdings Ltd. (CMS) to develop and commercialise seven generic products in mainland China. The collaboration covers eight generic products including the seven mentioned earlier. The total addressable market size for all these eight products is about $1 billion in mainland China.

Dewan Housing Finance Corporation (DHFL): The debt-laden housing finance company said on Friday that the Company is not in a position to submit the Un-audited Standalone and Consolidated Financial Statements for the first quarter ended on June 30, 2019, within the time stipulated under Regulation 33 of the SEBI. The Company shall, however, ensure to submit the Standalone and Consolidated Un-audited Financial Statements for the first quarter ended by September 14, 2019. Besides, Lenders of DHFL have agreed on a three-level resolution plan that includes conversion of debt to equity and issuance of non-convertible debentures (NCDs). Banks have a collective exposure of Rs35,000 crore on DHFL through loans. Bondholders including mutual funds, pension funds and insurance companies also have Rs45,000 crore exposure in the company.

Ujjivan Financial Services: The company on Friday informed that it has filed a draft red herring prospectus for listing its wholly-owned small finance bank to raise Rs1,200 crore through the initial public offering (IPO). In a statement, the company said, “USFB is proposing to undertake an initial public offering of equity shares of the face value of Rs10 each of UFSB comprising a fresh issue of Equity Shares by USFB aggregating up to Rs1,200 crore”.

Sundaram-Clayton Ltd: The Company’s plant situated at Padi, Chennai, has declared August 16 and 17, 2019 as nonworking days due to business slowdown across sectors. As an unprecedented slowdown continues to rattle the automobile sector, vehicle and components manufacturers have resorted to temporary factory closures to align production with demand.

Coffee Day Enterprises Ltd (CCD): The promoters of the coffee day group have plans to restart talks with Coca-Cola for selling a chunk of their stake in Café Coffee Day (CCD) chain. The stakes will be sold in a bid to cut the group’s debt further.

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