Stocks in Focus on May 15: Jet Airways, NTPC to Torrent Power; here are the 5 newsmakers of the day
The domestic stocks market was able to break the nine-day long losing streak on Tuesday, May 14, 2019, and closed after moving up more than 0.50 per cent.
The domestic stocks market was able to break the nine-day long losing streak on Tuesday, May 14, 2019, and closed after moving up more than 0.50 per cent. But there were certain stocks that came in news after the market was closed for trading on the day and impact the trading session on Wednesday, May 15, 2019, after it reopens for trading purposes. Here is a list of five such stocks:
Jet Airways: Top executives of the company including Chief Executive Officer (CEO) Vinay Dube has resigned from his office with immediate effect. His resignation comes just a day after its chief financial officer (CFO) and deputy chief executive officer (deputy CEO) Amit Agarwal quit from his position. This comes a day after Jet Airways’ lead lender SBI opened the bid placed by Etihad Airways and found it short of exceptions. Besides, there are reports that lenders to Jet Airways and its second-largest shareholder Etihad Airways have approached the Hinduja Group offering a stake in the grounded airline and exploratory talks are on.
NTPC Limited: The electric power distribution company has won 100 MW solar capacities in Solar Energy Corporation of India (SECI) 250 MW Tender for Dondaicha Solar Park, Maharashtra. This solar project shall be set up by NTPC under EPC mode and shall add to the installed capacity of NTPC.
Tata Sons: The conglomerate has plans to bring the fast-moving consumer goods (FMCG) business under one entity. Under the process, it will transfer the branded salt, pulses, masalas and ready-to-eat snacks portfolio from Tata Chemicals to Tata Global Beverages. the proposal is likely to be announced on Wednesday, May 15, 2019.
Adani Ports: The infrastructure conglomerate Adani Group has received in-principle approval from the Myanmar government to invest $29 crore to build and run a container terminal along the Yangon river for 50-years.
Torrent Power: The company on Tuesday said that it has raised Rs270 crore by issuing 2,700 non-convertible debentures with face value Rs10 lakh on private placement basis.