Stocks in Focus on July 23: DHFL, TVS Motor to Vedanta; here are 5 Newsmakers of the Day
Dewan Housing Finance Corp Ltd (DHFL): The debt-laden housing finance company has filed its financial report for the quarter ended on March 31, 2019.
The domestic markets plunged for the third session in a row on Monday, July 22, 2019. Sensex and Nifty, both, logged losses amid foreign fund outflow and weak cues from global equity markets. However, certain stocks 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 Tuesday, July 23, 2019. Here is a list of five such stocks:
Dewan Housing Finance Corp Ltd (DHFL): The debt-laden housing finance company has filed its financial report for the quarter ended on March 31, 2019. However, the auditors of the home financers have listed several red flags around the numbers and listed qualifications and disclaimers to the company’s annual financial statement. Besides, the National Stock Exchange (NSE) of India on Monday said it will suspend trading in eight series of NCDs of the company from July 31, due to the redemption of the same.
Reliance Nippon Life Asset Management (RNAM) Limited: Nippon Life Insurance will launch a mandatory open offer to public shareholders of RNAM to acquire up to 25.33 per cent stake (approx. 15.57 crore equity shares) in RNAM’s expanded voting share capital. Nippon Life’s open offer— from July 23 to August 5 — will be available at an offer price of Rs230 a share.
TVS Motor: TVS Motor Company Limited through its wholly-owned subsidiary TVS Motor (Singapore) has signed a definitive agreement with New York-based Scienaptic Systems Inc to invest $7 million (Rs48 crore) in the latter’s series-A funding.
Natco Pharma: The pharmaceutical company was awarded interim relief by the Delhi High Court last week in a fresh patents battle filed by Bristol-Myers Squibb (BMS). BMS filed an injunction petition in the court to protect its anti-coagulant Apixaban against Natco’s Apigat.
— Zee Business (@ZeeBusiness) July 23, 2019
Vedanta Limited: Capital markets regulator Securities and Exchange Board of India (SEBI) will probe if Anil Agrawal-controlled, Cairn India and Vedanta, have violated securities laws while withholding dividends payable to Cairn UK Holdings. Securities Appellate Tribunal (SAT) has asked SEBI to investigate the matter. The UK based company had moved the tribunal, seeking action against Cairn India and Vedanta for not paying its dividends to the tune of Rs 360 crore. SAT hears appeals against Sebi orders.