Stocks in Focus on January 7: Piramal Enterprises, HDFC Bank to TCS; here are the 5 Newsmakers of the Day
TCS, HDFC Bank, Piramal Enterprises, Aster DM Healthcare and other banking stocks are expected to remain newsmakers throughout the intraday trade session.
Key domestic equity market slumped on Monday, January 6, 2020, as tensions in the Middle East dragged global shares lower. However, some stocks that came in news after the market was closed for trading purposes. They can impact the indices when they will reopen for trading on Tuesday, January 7, 2020. Here is a list of five such stocks:
Piramal Enterprises: The Rs3,650-crore rights issue of Piramal Enterprises will open for subscription today, on January 7, 2020, and will close on January 21. The offer is priced at Rs1,300 a share. The entitlement ratio has been fixed at 11 shares for 83 held in the company.
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Banks in focus: Today is the last date for banks to sign the inter-creditor agreements (ICAs). Lenders will have to submit the ICA resolution plan for loans worth Rs 3 lakh crore today for most stressed accounts. Non-ability of doing the same will require banks to go for a 20% provision and refer cases to the NCLT within 30 days.
HDFC Bank: The private lender on Monday said its advances and deposits had grown 20% and 25% respectively as of December 2019 over the same period of the corresponding year. It said, its advances stood at RsRs9.34 lakh crore when compared to Rs7.81 lakh crore in December 2018, while its deposits stood at Rs10.67 lakh crore this time against Rs8.52 lakh crore a year ago. The bank’s current and savings account (CASA) ratio stood at around 39.5% as of December 31, 2019, as compared to 40.7% as of December 31, 2018. Besides, the bank purchased loans aggregating Rs 4258 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation Limited.
Aster DM Healthcare: Its board is scheduled to meet on January 9, 2019, to consider a buyback proposal of its equity shares.
TCS: The IT major postpones its board meet till the Supreme Court (SC) hears its plea over the National Company Law Appellate Tribunal’s (NCLAT’s) order on the reinstatement of Cyrus Mistry. The SC will hear the petition filed by Tata Sons on January 10.
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