Stocks in Focus on May 10: Welspun Corp, Brigade Enterprises to SBI; here are the 5 newsmakers of the day
Dragged by index heavyweight Reliance Industries, which was 3.56 per cent down, the key equity benchmarks declined for the seventh straight trading session on Thursday.
Dragged by index heavyweight Reliance Industries, which was 3.56 per cent down, the key equity benchmarks declined for the seventh straight trading session on Thursday, May 9, 2019. But, there were certain stocks that came in news after the market was closed for trading on the day and can impact the market after it reopens on Friday, May 10, 2019. Here is the list of five stocks:
Welspun Corp: The Board of Directors of the company is scheduled to meet on May 14, 2019, to consider a proposal to buy back the fully paid-up equity shares of the company of face value of Rs5 each. It will also consider and approve the standalone as well as the consolidated audited financial statements of the Company for the quarter and year ended March 31, 2019. Besides, the company has also received additional pipe orders of 103 KMT, which will be serviced from India.
Electrotherm/Electrosteel Castings: Stocks of these companies will be in focus today because India has extended anti-dumping duty on ductile iron pipes originating from China in a bid to protect the domestic industry.
Brigade Enterprises: The company has announced the buyback date of 63.63 lakh equity shares aggregating up to 9.02 per cent of fully paid-up equity share capital of the company, at Rs275 per share on a proportionate basis. The buyback will remain open between May 20-31, 2019.
State Bank of India (SBI): The bank has reduced the marginal cost of funds-based lending rate (MCLR) by 0.05 per cent, effective May 11, 2019, across various tenures.
Jet Airways: AdiGro Aviation is set to bid for distressed airline Jet Airways on May 10, the last day for bidding. AdiGro Aviation, part of the London-based Adi Partners, has submitted a bid for Jet Airways in an individual capacity but is willing to explore a partnership with Etihad Airways.