Stocks in Focus on August 30: BSE Buyback, Hindalco to PNC Infratech; here are the 5 Newsmakers of the Day
Certain stocks came in news after the market was closed yesterday and can have an impact on the market when it reopens on Friday.
The key domestic equity indices declined for the second consecutive day on Thursday, August 29, 2019, amid weakness in financial stocks. But certain stocks came in news after the market was closed and can have an impact on the market when it reopens for trading purpose on Friday, August 30, 2019. Here is a list of five such stocks:
BSE Buyback: BSE buyback of its fully paid-up equity shares at Rs680 per equity will open today. The buyback will remain open till September 16, 2019. The total amount of buyback size would be maximum of Rs460 crore.
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Yes Bank: The Board of Directors of Yes Bank will be meeting on August 30, 2019, to approve a proposal for fundraising by way of issuance of equity shares.
Hindalco: US aluminium producer Novelis is set to secure European Union antitrust approval for its $2.6 billion bid for Aleris. (Reuters) Novelis is a US-based company owned by India’s Hindalco Industries. Aleris has a global footprint with manufacturing facilities in Europe, the U.S. and Asia.
Gruh Finance: HDFC, India’s largest mortgage lender, will sell 9.2% stakes (6.74 crore shares) in Gruh Finance via block deal to raise Rs1,678 crore. Likely to offer up to 3% discount to Thursday's closing price.
PNC Infratech: The infrastructure company on Thursday said it has bagged an Rs1,062 crore highway project from the National Highways Authority of India (NHAI). The scope of work includes the construction of a 31.7-km long four-lane bypass in Uttar Pradesh.