Stocks in Focus on August 22: Redington India, BHEL to CCD; Here are 5 Newsmakers of the Day
Sensex and Nifty, fell more than 0.70% amid weak global cues and trade war worries, but certain stocks came in news after the markets were closed for trading purposes which can play an important role in driving the market today.
Key equity indices finished in red on Wednesday, August 21, 2019. Both the indices, Sensex and Nifty, fell more than 0.70% amid weak global cues and trade war worries. 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 Thursday, August 22, 2019. Here is a list of five such stocks:
Redington (India) Limited: ICICI Prudential Life Insurance has reduced its stakes (2%+) in Redington India. The company in its disclosure to exchanges said ICICI Prudential has sold more than 2% 87.52 lakh shares on August 20. Following the stake sale, ICICI Prudential Life Insurance’s stake in the company reduced to 5.323 per cent from 7.369 per cent.
BHEL: M/s India Ratings & Research has affirmed BHEL's Long-Term Issuer Rating at 'IND AA+'. However, the outlook has been revised from 'Stable' to 'Negative'. The agency has said that revision was taken due to higher than expected decline in the revenues, leading to EBITDA losses in Q1 FY20.
Dewan Housing Finance Corporation Ltd (DHFL): The debt-laden housing finance company DHFL on August 21, 2019, said it has defaulted on payment of non-convertible debentures of Rs50 lakh on August 20, 2019.
Coffee Day Enterprises Ltd (CCD): The company has said that news saying “ITC considering to pick stake in Coffee Day” is factually incorrect and the company is unaware about the said news.
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NRB Bearings Ltd: Acacia Conservation Fund LP has acquired 676,000 equity shares of NRB Bearings Limited through on Wednesday in bulk deal in NSE. The shares were bought at Rs90 per share.