Stocks in Focus on January 21: Piramal Enterprises, Telecom Stocks to Info Edge; here are expected 5 Newsmakers of the Day
Piramal Enterprises, Granules India, Info Edge, MOIL and telecom company stocks are expected to remain newsmakers throughout the intraday trade.
Domestic Indian markets fell sharply on Monday, January 20, 2020. The key indices, Sensex and Nifty 50 ended almost 1 per cent down after hitting record highs during the session owing to the selloff in index heavyweights like Reliance Industries, HDFC Bank and TCS following December quarter results. But certain stocks made news after the market was closed and can make an impact on the indices when it reopens on Tuesday, January 21, 2020. Here is a list of five such stocks:
Piramal Enterprises: Ajay Piramal-led Piramal Enterprises rights issue closes today, January 21, 2020. The company has plans to raise Rs3,650 crore from the rights issue that is being offered at Rs1,300 apiece, an attractive discount of 20 per cent to the current market price.
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Granules India: The board of the company will meet today to consider a proposal for buyback of equity shares. The Hyderabad-based firm’s board will also consider the quarterly results for the period ended in December 2019.
Telecom companies in focus: Telecom operators, Bharti Airtel and Vodafone Idea, have filed ‘modification application’ in SC seeking changes in AGR payment deadline. It wants permission to sit with the Department of Telecom (DoT) to negotiate conditions and schedule terms for payment of the statutory dues. Ask for an urgent hearing today.
MOIL: The government will disinvest 6.4% stake in the company.
Info Edge: Zomato has acquired the Indian operations of Uber Eats, the food delivery business run by Uber for around Rs2585 crore. Uber Eats will cease to exist as a separate brand locally and users on its platform will be redirected to Zomato’s app.
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