Stocks in Focus on January 17: Yes Bank, Telecom Companies to Rallis India; here are expected 5 Newsmakers of the Day
Yes Bank, Rallis India, Dishman Carbogen Amcis, telecom and banking stocks are expected to remain newsmakers throughout the intraday trade session.
Key benchmark indices ended with minor gains on Thursday, January 16, 2020, after a see-saw session. But certain stocks made news after the market was closed and can make an impact on the indices when it reopens on Friday, January 17, 2020. Here is a list of five such stocks:
Telecom Companies In Focus: The Supreme Court on Thursday rejected pleas by Vodafone Idea and Bharti Airtel to review its October 24, 2019, verdict that widened the definition of adjusted gross revenue (AGR). With this, these Telcos to pay the collective dues of Rs89,000 crore by January 23, 2020. Now, the telcos may file a curative petition against the verdict.
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Banking stocks in focus: The Reserve Bank of India will conduct simultaneous purchase and sale of the government securities under the Open Market Operations (OMO) for Rs10,000 crores each on January 23, 2020.
Yes Bank: Moody's Investors Service on Thursday downgraded YES Bank's Baseline Credit Assessment (BCA) and adjusted BCA to 'caa2' from 'b3'. The downgrading action was taken due to concerns on the standalone viability of the private lender as it struggles to raise capital. The bank's long-term foreign-currency issuer rating of B2 and long-term foreign and local currency bank deposit ratings of B2 were put under review.
Dishman Carbogen Amcis Ltd: The company's board on Thursday approved the buy-back of 48 lakh fully paid up equities shares aggregating up to Rs72 crore at Rs150 per share. This represents 2.97% of the total number of Equity Shares.
Rallis India: The chemical manufacturing company has posted the Q3FY20 financial results and reported a 27.8% rise in its revenue to Rs533 crore from Rs417 crore on a year-on-year basis. Net profit grew by 171.4% to Rs38 crore from Rs14 crore. Its EBITDA grew by 105.6% to Rs55.5 crore from Rs27 crore.
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