Stocks in Focus on February 19: Nifty index, NIIT to Telecom Stocks; here are expected 5 Newsmakers of the Day
Nifty index, NIIT, Balkrishna Industries, Avenue Supermarts and telecom stocks are expected to remain newsmakers throughout the intraday trade session.
Stocks in Focus on February 19: The market extended losses for the fourth straight session on Tuesday, February 18, 2020. Sensex dipped 161.32 points, while Nifty ends at 11,992.50. But certain stocks came in news after the market was closed and can impact the indices when it reopens in the morning on Tuesday, February 18, 2020. Here is the list of five stocks:
NIFTY INDEX Change: Shree Cement will replace private lender Yes Bank in the benchmark index Nifty 50 from 27 March, NSE Indices, a subsidiary of the National Stock Exchange (NSE), said on Tuesday. Further, Vodafone Idea, Ashok Leyland, Indiabulls Housing Finance, L&T Finance Holdings and Shree Cement will be dropped from Nifty Next 50, NSE Indices said in a statement. Adani Transmission, IDBI Bank, Info Edge (India) Ltd, Larsen & Toubro Infotech and Torrent Pharmaceuticals would be added in Nifty Next 50 index. Meanwhile, the National Stock Exchange has also decided to remove Oil India from its derivative (F&O) segment with effect from May 4.
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Telecom in Focus: The government is unlikely to invoke the bank guarantees of Vodafone Idea for now. The officials of the telecom and finance ministries met with Cabinet Secretary Rajiv Gauba yesterday to ensure that the sector has three private players.
Avenue Supermarts: Promoters of the company have sold 2.28% equity shares of the Company to the public in accordance with the "Comprehensive Guidelines on Offer for Sale (OFS). With this exercise, the promoters’ stake in the company has come down to 74.99 per cent.
Balkrishna Industries: HDFC Mutual Funds has sold 2.07 per cent stake in Balkrishna Industries.
NIIT Ltd/ MAS Financial/Lumax Auto: Boards of these respective companies are scheduled to meet today to consider the proposal relating to declaration of Interim Dividend, if any, for Financial Year 2019-20.
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