Stocks in Focus on May 16: Balrampur Chini, Lupin to Balaji Amines; here are the 5 newsmakers of the day
Yes Bank and Tata Motors were the biggest losers and slumped about 8 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 Thursday.
Resuming the downward trend on Wednesday, May 15, 2019, the benchmark indices nosedived more 0.50 per cent and closed in a red. Yes Bank and Tata Motors were the biggest losers and slumped about 8 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 Thursday, May 16, 2019, after it reopens for trading purposes. Here is a list of five such stocks:
Balrampur Chini: The company’s buyback offer will open today, May 16, 2019, and will close on May 29, 2019. The company is going to buyback up to 84,38,327 fully paid-up equity shares of the face value of Rs1 each at Rs175 per equity share on a proportionate basis.
Lupin Limited: The drug maker has received three observations from the US health regulator, US Food and Drug Administration (USFDA), for its Aurangabad-based manufacturing facility.
Aviation Stocks: Aviation stocks like Indigo and SpiceJet will remain in focus today because the ministry of civil aviation is set to allot the overseas routes of the Jet Airways, which is lying ideal since April 17, to other carriers. For the purpose, the Aviation Minister will be meeting with representatives of Airlines companies soon.
Balaji Amines Ltd.: The company has received consent to operate by Maharashtra Pollution Control Board for expansion of existing products cum addition of new products at its Maharashtra Unit at MIDC Chincholi. The company says that the proposed capacities will be added within one month.
Varroc Engineering/Sintex Plastic: The Aurangabad-based Varroc Engineering may acquire Sintex Plastic Technology’s domestic automotive custom moulding business. The deal may fetch Rs350 crore to Rs350 crore to Sintex.