Stocks in Focus on July 11: Infra stocks, DHFL to Ajmera Realty; here are the 5 Newsmakers of the Day
There are certain stocks that came in news after the market was closed on Wednesday and can play a pivotal role on Thursday intraday trade.
The domestic market, Sensex and Nifty, ended lower on Wednesday, July 10, 2019, amid renewed concerns over trade tension between the United States and India. However, there were certain stocks that came in news after the market was closed for the day. These stocks can have an impact on the indices after the market is opened for trading purposes on Thursday, July 11, 2019. Here is a list of five such stocks:
See Zee Business Live TV below:
Infrastructure Stocks: Infrastructure stocks will be in focus today as the CCEA chaired by PM Narendra Modi approved the launch of Pradhan Mantri Gram Sadak Yojana-lll (PMGSY-III). Under the PMGSY-III Scheme, it is proposed to consolidate 1,25,000 Km road length in the States. It will entail an estimated cost of Rs80,250 crore (Central Share-Rs53,800 crore, State Share- Rs26,450 crore).
Dewan Housing Finance Corporation (DHFL): Promoters of the cash-strapped Dewan Housing Finance Limited (DHFL) may pledge their shares as collateral to get further loans from the banks. DHFL is seeking fresh credit from banks. Besides, published reports suggest that two statutory auditors of the firm - Deloitte Haskins & Sells, and Chaturvedi & Shah – may decide to resign ahead of the meeting of the board of directors of the company, which is scheduled to take place on July 13. The action can be taken in the backdrop of not getting a satisfactory response to their queries related to fund deployment by DHFL.
Aurobindo Pharma: Drug major Aurobindo Pharma announced the launch of Cinacalcet Hydrochloride tablets (30mg, 60mg and 90mg) in the US market. The drug is used in the treatment of secondary hyperparathyroidism (HPT) in adult patients with chronic kidney disease on dialysis. Cinacalcet Hydrochloride tablets had an annual sale of approximately US$1,449 million (more than Rs10,000 crore) for the twelve months ending May 2019 as per IQVIA.
Ajmera Realty & Infra India Limited: The real estate developer has announced a joint venture (JV) development for a commercial project at LBS Marg, Ghatkopar (W), Mumbai. The project may generate revenue of approx. Rs120 crore. The project has received zero IOD and has initiated demolition.
Cox & Kings: The tour operator has defaulted on commercial paper of Rs125 crore. This is the third default of the company in the past fortnight, totalling Rs325 crore. In addition, the rating agency CARE has revised long-term bank facilities rating of the company to C from BB. Rs250 crore NCDs has been downgraded to D from BB.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.