Stocks in Focus on August 23: Future Retail, Britannia, BHEL; Here are 5 Newsmakers of the Day
The benchmark stock indices ended at a six-month low after government’s chief economic adviser ruled out a stimulus, which dashed investors hope of quick revival in demand.
The benchmark stock indices ended at a six-month low after government’s chief economic adviser ruled out a stimulus, which dashed investors hope of quick revival in demand. On Thursday, August 22, 2019, key benchmark indices Sensex and Nifty fell about 1.60% to close at their lowest level since February. But certain stocks came in news post-market hours and can have an impact on the market when it reopens for trading purpose on Friday, August 23, 2019. Here is a list of five such stocks:
Future Retail: Seattle-based e-commerce giant, Amazon, will acquire 49% stake in Future Coupons, a Future Group entity that holds a minority stake in Future Retail. Amazon will acquire the stakes at an expense between Rs1,500-2000 crore.
Glenmark Pharmaceuticals: The pharma major is engaged in discussions to sell 25-30% stakes in Glenmark Life Sciences with private equity (PE) fund PremjiInvest. Glenmark Life Sciences (GLS) is the newly hived off subsidiary of active pharmaceutical ingredient (API) products. The company has plans to sell a minority stakes for Rs1,100 crore.
Britannia: To beat slowdown blues, Britannia, an Indian food-products corporation and country’s largest biscuit-maker, has plans to increase prices of its products marginally in the third quarter of the current fiscal.
BHEL: CRISIL has revised the outlook on the long-term bank facilities of Bharat Heavy Electricals Ltd. to 'Negative' from 'Stable' while reaffirmed the rating at 'CRISIL AA+'. The rating on the short-term bank facilities have been reaffirmed at 'CRISIL A1+'
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Reliance Capital: Jupiter India Fund has sold 27.5 lakh shares (1.09%) of Reliance Capital at Rs 35.88 each.