Stocks in Focus on August 27: IndiGo, Strides Pharma to Bank of Baroda; here are the 5 Newsmakers of the Day
Certain stocks came in news post-market hours on yesterday and can have an impact on the market when it reopens today.
Domestic equity markets posted skyrocketed more than two per cent led by gains in banking stocks. They had the biggest single-day gain since May 20, 2019, in three months, on Monday, August 26, 2019. But certain stocks came in news post-market hours and can have an impact on the market when it reopens for trading purpose on Tuesday, August 27, 2019. Here is a list of five such stocks:
MSCI Changes: Global index provider MSCI’s changes/rebalancing will be implemented from August 28, 2019. HDFC Life will be included in the MSCI India Index while Union Bank will get out from the index.
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IndiGo: Co-promoter Rakesh Gangwal will not attend IndiGo's AGM that is scheduled to be held today, August 27, 2019.
Strides Pharma Science Limited: The National Stock Exchange (NSE) will exclude Strides Pharma Science from futures and options (F&O) contracts from November 1, 2019, as it does not meet the enhanced eligibility criteria to remain in the derivatives segment. Existing unexpired contracts of expiry months till October would continue to be available for trading.
Vadilal Industries: Care Ratings Limited has revised the long-term bank facilities to CARE BBB from CARE BBB+ and short-term bank facilities to CARE A3+ from CARE A2. Besides, the company has been removed from credit watch with developing implications and placed under credit watch with negative implications.
Bank of Baroda (BoB): India’s second-largest public sector bank is set to buy Rs6,000 crore of NBFC loans through direct assignment route by end of the ongoing quarter. The bank on Monday announced that they are exploring tie-up opportunities with 14 NBFCs including Indiabulls Housing Finance, Cholamandalam Finance and Hero FinCorp.