Stocks in Focus on May 17: Bharti Airtel, DHFL and NBFCs; here are the 5 newsmakers of the day
Bharti Airtel’s Rs25,000 crore rights issue opened on May 3 and will close today, on May 17, 2019. The rights issue was priced at Rs220 per share.
Domestic stocks ended with modest gains on Thursday, May 16, 2019, but there were certain stocks that came in news after the market was closed for the day. These stocks can impact the market after it reopens for trading purposes on Friday, May 17, 2019, after it reopens for trading purposes. Here is a list of five such stocks:
Bharti Airtel: Telecom major’s Rs25,000 crore rights issue opened on May 3 and will close today, on May 17, 2019. The rights issue was priced at Rs220 per share.
Aviation Stocks: The stocks of the airline companies like Indigo and Spice jet will remain in focus today because the Civil Aviation Minister is likely to meet with airline companies to consider re-allocation of grounded Jet Airways foreign traffic rights to rival carriers.
Dewan Housing Finance Corporation (DHFL): The Mumbai-based housing finance company has signed a non-binding pact with US-based Oaktree Capital on offloading wholesale real estate loans worth Rs18,000 crore.
PNB/PNB Housing: The state-run Punjab National Bank has said that it has terminated the agreements with General Atlantic Group and Varde Partners to sell its stake in PNB Housing Finance (PNBHF). Earlier on March 29, 2019, the bank entered into agreements to sell 13.1 per cent stake in PNBHF to General Atlantic Group and Varde Partners at a share price of Rs850 per share, aggregating to Rs925.80 crore. The bank has said that post-termination of the share purchase agreement (SPA), it will continue to be the sole promoter of the company and stay strategically invested in the company.
NBFC Sector: The Reserve Bank of India on Thursday asked non-banking finance companies (NBFCs) with asset size of more than Rs5,000 crore to appoint a chief risk officer (CRO) with a clearly specified role and responsibilities to improve standards of their risk management. The RBI directive comes in the backdrop of the IL&FS imbroglio and its ripple impact on NBFCs.