Stocks in Focus on August 6: Tata Motors, Muthoot Finance to Minda Corp; here are the 5 Newsmakers of the Day
There are certain stocks that came in news after the markets were closed and can have an impact on the indices after it opens today.
Domestic equity benchmarks on Monday, August 5, 2019, plunged more than one per cent. Sensex and Nifty, both, tumbled amid heavy fall in global stocks. However, certain stocks came in news after the markets were closed for the trading purposes and can have an impact on the indices after it opens for trading purposes on Tuesday, August 6, 2019. Here is a list of five such
MSME/AUTO sector: Finance Minister Nirmala Sitharaman has plans to hold a review meeting to discuss current economic issues - that is undergoing a slowdown - with key stakeholders. In the process, the finance minister along with RBI deputy governor NS Vishwanathan reviewed the performance of the banking sector with heads of public sector banks (PSBs) and private lenders. This meet will be followed by meeting with stakeholders of the MSME sector today, the automobile sector tomorrow on Wednesday and financial market stakeholders on Friday.
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Tata Motors: Rating Agency, ICRA, on Monday revised and downgraded Tata Motors non-convertible debenture programme, long-term loans, long-term fund-based facilities and long-term non-fund-based facilities to ICRA AA-/Negative from ICRA AA/Negative. However, reaffirmed ratings for the commercial
paper programme and short-term debt programme at ICRA A1+.
Muthoot Finance: The Board of Directors of Muthoot Finance Limited is scheduled to meet on Monday, August 12, 2019, to inter-alia consider raising of funds in the form of loans including bank loans or by issuance of foreign currency bonds or rupee-denominated bonds overseas on public/private basis in international markets within the overall borrowing limits.
IOL Chemicals and Pharmaceuticals Limited: The company has made the pre-payment of a term loan of Rs 14 crore due to banks in addition to the regular repayment schedule. With this, the company made the pre-payment of a term loan of the aggregate amount of Rs 98.18 crore till date to reduce the debt of the company.
Minda Corporation: The company said on Monday that the National Company Law Tribunal (NCLT), New Delhi Bench, has approved the scheme of amalgamation of five domestic Indian wholly-owned subsidiary companies into Minda Corporation Ltd. The companies to be amalgamated includes of Minda Management Services Limited, Minda SAI Limited, Minda Automotive Solutions Limited, Minda Autoelektrik Limited & Minda Telematics and Electric Mobility Solutions Private Limited.
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