Stocks in Focus on January 29: IndiGo, KEI Industries to Allcargo Logistics; here are expected 5 Newsmakers of the Day
IndiGo, MCX, KEI Industries, Godfrey Phillips and Allcargo Logistics are the expected newsmakers throughout the intraday trade session.
Domestic shares declined for a second straight session on Tuesday, January 28, 2020, amid weak global sentiment. Global stock markets were under pressure after the death toll and incidence rate of the Chinese coronavirus escalated over the weekend. Investors are cautious in light of the Union Budget that is scheduled to be presented on Saturday, 1 February 2020. But certain stocks came in news after the market was closed and can make an impact on the indices when it reopens on Wednesday, January 29, 2020. Here is a list of five such stocks:
IndiGo: Domestic airline IndiGo will hold an extraordinary general meeting EGM) today as requested by the company's co-founder Rakesh Gangwal-led RG Group. The EGM has been called to vote on amendments to the Articles of Associations of the company as special resolutions.
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KEI Industries: Cable maker KEI Industries has raised Rs500 crore from institutional buyers via Qualified Institutions Placement (QIP) of 1 crore equity shares at an issue price of Rs500 per Equity Share.
Godfrey Phillips: Jupiter Asset Management has raised concerns on corporate governance at Godfrey Philips (GPI), which holds around 9.50 per cent equity capital of GPI, after Lalit Modi's claim.
Allcargo Logistics: The company has till now acquired 2,54,03,340 equity shares i.e. 20.83% stake of GATI Ltd.
MCX in Focus: SEBI has tightened margin norms on commodity derivatives. It has categorised commodities by their realised volatility and by imposing identical margins across the exchange.
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