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Stocks in Focus on January 22: Prabhat Dairy, JP Associates to Dena Bank; here are the 5 newsmakers of the day
The domestic market closed in the green on Monday, January 21, 2019, but there were certain stocks that came in the news after the market was closed for the day from trading.
The domestic market closed in the green on Monday, January 21, 2019, but there were certain stocks that came in the news after the market was closed for the day from trading. These stocks can have an impact on the market on Tuesday, January 22, 2019, when it opens for trading for the day. Here is the list of such stocks:
Prabhat Dairy: The Maharashtra-based integrated milk and dairy products company has said that it will be selling its flagship dairy business for Rs1,7000 crore to a French dairy group Lactalis. For the purpose, Lactalis has signed a definitive agreement to buy the company through a slump sale. In addition, Lactalis will also purchase 100 per cent shareholding of Sunfresh Agri Industries, a subsidiary of Prabhat via a share purchase agreement.
IDBI Bank: The bank’s board gave in-principle approval to the proposal to reinitiate the divestment process of the bank’s stake in IDBI Federal Life Insurance.
Jaiprakash Associates: The security of JP Associates will be excluded from the futures and options (F&O) segment. NSE in a circular has said that no contracts will be available for trading in the security with effect from March 29.
Dena Bank: Dena Bank has decided to sell its 14 prime properties across the country including its properties in Mumbai's JVPD and Nepean Sea Road. These properties are collectively valued at Rs540 crore.
Technofab Engineering: CRISIL has downgraded the long-term credit ratings for bank facilities of the construction engineering company to BB/Negative from BBB+/Negative and short-term rating to A4+ from A2.
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