Stocks in Focus on May 20: Cipla, Reliance Capital to DHFL; here are the 5 newsmakers of the day
Domestic stocks closed in the green on Friday, May 17, 2019, but there were certain stocks that came in news after the market was closed on the day.
Domestic stocks closed in the green on Friday, May 17, 2019, but there were certain stocks that came in news after the market was closed on the day. These stocks will have an impact on the market after it reopens for trading on Monday, May 20, 2019. Here is a list of five such stocks:
Cipla: The pharmaceutical company has said that the US health regulator, USFDA, has conducted a post-approval inspection at its Indore facility and it ended with zero observations. The inspection was conducted from May 13-17, 2019.
Alkem Laboratories: The pharmaceutical company has said that the company has received a Form 483 with four observations. The inspection was conducted at the company’s manufacturing facility located at Baddi, Himachal Pradesh from May 13-17, 2019.
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Reliance Capital Ltd: CARE Rations has downgraded Anil Ambani’s financial services company, Reliance Capital’s, long-term debt and subordinated debt rating by three notches from “A” to “BBB” due to reasons including defaults by two of its subsidiaries — Reliance Home Finance (RHFL) and Reliance Commercial Finance (RCFL).
Dewan Housing Finance Corporation (DHFL): After CARE and ICRA, Brickwork Ratings has downgraded credit rating for various instruments due to limited progress in building up of liquidity, selling/exiting riskier construction finance loans and delay in announcing a strategic investor for DHFL.
Fortis Healthcare: the healthcare major on Friday said its subsidiary Fortis Healthcare International will sell its entire stake in Medical and Surgical Centre Ltd (MSCL). Mauritius-based Fortis Healthcare International holds 28.89 per cent stake in MSCL.