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Stocks in Focus on January 28: Maruti, DHFL to Nippon India MF; here are expected 5 Newsmakers of the Day
Maruti Suzuki India, DHFL, Karnataka Bank, Nippon India Mutual Fund and Godfrey Phillips India are expected to remain newsmakers throughout the intraday trade.
Key domestic benchmarks snapped two-day rising streak on Monday, January 27, 2020, amid negative global cues. Global stock markets came under pressure due to the fast-spreading Coronavirus that has claimed more than 80 lives in Wuhan city of China. Investors also turned cautious ahead of the Union Budget on Saturday, February 1, 2020. But certain stocks came in news after the market was closed and can make an impact on the indices when it reopens on Tuesday, January 28, 2020. Here is a list of five such stocks:
Maruti Suzuki India: Country's largest carmaker on Monday announced a price change for select models owing to an increase in input costs. The price change varies across models and ranges from 0% to 4.7% (Ex-Showroom - Delhi). The new prices are effective from January 27, 2020.
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Karnataka Bank: The bank on Monday said that its board has approved the issue of bonus shares at the ration of 1:10, i.e. 1 Equity Share for every 10 Equity Shares held, subject to the approval of shareholders of the Bank. Board also approved raising of capital funds up to Rs15 crore through QIP.
Godfrey Phillips India (GPI): Lalit Modi through a series of tweets on Monday said promoter stakes in several KK Modi group companies, including listed cigarette maker Godfrey Phillips India Ltd, are up for sale. The group companies include cigarette maker Godfrey Phillips, Indofill Industries and Modicare.
Dewan Housing Finance Ltd (DHFL): The Enforcement Directorate (ED) on Monday arrested Kapil Wadhawan, promoter and former CMD of DHFL, in connection with a money-laundering probe against gangster Iqbal Mirchi and others. The ED has alleged that Kapil siphoned off Rs2,186 crore from DFHL into five shell companies, which had a role in acquiring Mirchi’s properties.
Nippon India Mutual Fund: The company will launch the seventh phase of CPSE ETF's on Thursday. Nippon Life India Asset Management, formerly known as Reliance Nippon Life Asset Management, is managing the CPSE ETF on the government's behalf. Central Public Sector Enterprises ETF runs a concentrated portfolio with a handful of stocks having weights of as high as 20 per cent on the underlying index. The portfolio is concentrated towards the energy and oil sector.
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