Stocks in Focus on August 20: Tata Motors, MRPL to NTPC; here are 5 Newsmakers of the Day
As the domestic equity markets, Sensex and Nifty, ended marginally higher on Monday, certain stocks came in news after the markets were closed for trading purposes and can play an important role in driving the market today.
The domestic equity markets, Sensex and Nifty, wiped off the majority of gains in the last hour of session on Monday, August 19, 2019, and ended marginally higher. 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 Tuesday, August 20, 2019. Here is a list of five such stocks:
Tata Motors: CARE Ratings on Monday downgraded Tata Motors long-term credit rating to AA- (negative) from AA stable amid weak financial performance reported by its British subsidiary Jaguar Land Rover Automotive PLC (JLR). But it reaffirmed rating on short term bank facility and commercial paper at 'A1+'.
Mangalore Refinery and Petrochemicals Limited (MRPL): The company on Monday informed the stock exchanges that it has shut down the phase-3 process units of the refinery as a precautionary measure following a minor landslide in the area. It said the refinery was affected by the minor landslide following the intense rains in Dakshina Kannada district.
Vodafone Idea Limited: Ravinder Takkar has been appointed as Managing Director and chief executive officer (CEO) of the company. He was appointed to the post after Balesh Sharma stepped down from the position citing personal reasons.
NTPC: Country’s largest power producer NTPC has plans to set up an ultra-mega solar park in the Kutch region of Gujarat at an investment of Rs20,000 crore or more. The park will produce up to 5,000 megawatts. The company is also considering spot market options to sell some part of its solar power, without signing long term power purchase agreements.
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Dewan Housing Finance Corporation (DHFL): The company on Monday said that it has defaulted on financial repayment obligations worth Rs 1,571 crore concerning the issuance of bonds and commercial papers. The DHFL defaults pertain to three cases with regard to interest payment on non-convertible debentures and commercial papers, the firm said in a regulatory filing.