Stocks in Focus on January 17: NIIT Tech, Hexaware to HUL; here are 5 newsmakers of the day
These stocks can have an impact on the market on January 17, 2019, as the indices open for trading.
Benchmark indices closed in the green on January 16, 2019, but there were certain stocks that came in the news after the market was closed for trade for the day. These stocks can have an impact on the market on January 17, 2019, when the indices will be opened for trading. List of five such stocks:
HUL and Reliance: The two companies along with other 17 companies will remain in focus as they will be declaring their financial results of December quarter of the financial year 2018-19 today.
NIIT Technologies: Reports suggest that the Baring Private Equity Asia Ltd is likely to acquire NIIT Technologies in a deal that may value the IT solutions company at Rs8,000-10,000 crore. Credit Suisse has been given the mandate by NIIT to find a suitable buyer.
Hexaware Technologies: The company will remain in focus because Baring Private, who is likely to acquire NIIT Tech, also holds about 66 per cent stakes of Hexaware tech. This means Baring, who holds rights in Hexaware and will hold in NIIT, can merge the two companies.
NBFCs: The Reserve Bank of India has drawn up a new external commercial borrowing (ECB) framework allowing all eligible borrowers to raise up to $750 million per financial year under the automatic route, replacing the existing sector-wise limits. Apart from this, RBI Governor Shaktikanta Das will be meeting to the apex chambers/association of industry and commerce today.
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Hindustan Unilever Limited (HUL): The company will be in focus because the Delhi High Court has stayed the demand of Rs462 crore made by the National Anti-Profiteering Authority (NAA), which was slapped with a claim that the consumer goods major has failed to pass on the benefits of lower goods and service tax (GST) rate.
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