Stocks in Focus on May 2: OMCs, NBCC to Triveni Engineering; here are the 5 newsmakers of the day
Stock market was closed yesterday for May Day but there were certain stocks that made news after the market was closed for trading on Tuesday. Experts found out them.
Key indices, Sensex and Nifty, ended with small losses after a volatile trading session on Tuesday, April 30, 2019. Meanwhile, domestic stock markets were closed on Wednesday, 1 May 2019, on account of Maharashtra Day. But there were certain stocks that made news after the market was closed for trading on Tuesday and can have an impact on the market after it reopens for trading on Thursday, May 2, 2019. Here is the list of five such stocks:
OMCs/Aviation Sector: Shares of the oil marketing companies (OMCs) like HPCL, BPCL, IOC as well as Aviation sector will remain in focus today as the price of the non-subsidised cooking gas (LPG) has increased been increased by Rs6 per cylinder while the price of subsidized LPG was hiked by 28 paisa per cylinder and 29 paise in Mumbai. Also, Aviation Turbine Fuel (ATF) price was hiked by over 2.5 per cent, Rs 1,595.63 per kilolitre, in the third straight monthly increase in rates on the back of firming global prices.
NBCC (India) Limited: State-run NBCC has received government’s approval for its revised bid for Jaypee Infratech. Government’s permission was granted a week after the lenders, Committee of Creditors (CoC), of debt-stressed realty developer, rejected NBCC's revised bid to takeover Jaypee Infratech as the same was subject to the approval of various government authorities.
Triveni Engineering: The company has informed the exchanges that it has started new molasses based 160 KLPD distillery company at Sabitgarh, District Bulandshahr, Uttar Pradesh. With this, the total distillation capacity of the company stands increased to 320 KLPD.
Natco Pharma/Lupin: Lupin in alliance with Natco Pharma has received approval from the USFDA to market generic Bosentan tablets in the strengths of 62.5 mg and 125 mg. These tablets are used for the treatment of pulmonary arterial hypertension.
Tube Investments: The board of the Murugappa Group company, Tube Investments, has approved a fresh long-term borrowing of a sum not exceeding Rs100 crore, including by way of issue of privately placed secured non-convertible debentures, in one or more tranches. The sum will be raised to meet the company’s fund needs during 2019-20.