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Stocks in Focus on May 28: Adani Ports, Marico to JB Chemicals; here are the 5 newsmakers of the day
Benchmark domestic indices on Monday, May 27, 2019, finished the session at record closing highs amid gains in infra and metal stocks, foreign fund inflow and positive cues from global share markets.
Benchmark domestic indices on Monday, May 27, 2019, finished the session at record closing highs amid gains in infra and metal stocks, foreign fund inflow and positive cues from global share markets. Both indices, Sensex and Nifty, rose more than 0.60 per cent to settle at 39,683.29 and 31,647.65 respectively. However, there were certain stocks that came in news after the market was closed on the day and can impact the indices after they reopen for trading purposes on Tuesday, May 28, 2019. Here is a list of five such stocks:
Adani Ports: India’s largest private multi-port operator, Adani Ports and Special Economic Zone Limited, has posted fourth-quarter/FY19 results yesterday and reported a 38.69 per cent year-on-year rise in consolidated profit at Rs1,285.38 crore for the quarter ended March 31, 2019. Besides, the company also said that it will announce a dividend share buyback by June 4, 2019.
Marico Limited: CRISIL Ratings on Monday upgraded Marico’s longer-term bank loan facilities from AA+/positive to AAA/stable while the and short-term loan facilities to AI+ (Reaffirmed).
Vascon Engineers Ltd: The company has received Letter of Intent (LoI) amounting to Rs172 Crores Tycoons Avanti Projects LLP. The work has to be completed within 30 months from the date of receipt of Work Order.
Reliance Capital/Jagran Prakashan Ltd: In a bid to reduce debt, the Anil Ambani's Reliance Broadcast Network has sold Big 92.7 FM Radio to Jagran Prakashan-owned Music Broadcast Ltd (MBL) for an estimated value of Rs1,200 crore.
JB Chemicals & Pharmaceuticals Limited: The promoters of the Mumbai-based JB Chemicals have put their business up for sale. They will offload their 57 per cent stake in the company.
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