Stocks in Focus on May 3: Bharti Airtel, HDFC Life to IRCON International; here are the 5 newsmakers of the day
Sensex and Nifty on Thursday, May 2. 2019, closed with marginal losses amid mixed global cues. But, there are some stock that have huge return potential.
The Sensex and Nifty on Thursday, May 2. 2019, closed with marginal losses amid mixed global cues. But, there were certain stocks that came in news after the market was closed from trading for the day and can have an impact on the market after it reopens for trading on Friday, May 3, 2019. Here is the list of five such stocks:
Bharti Airtel: The Rs25,000-crore rights issue of the telecom giant, Bharti Airtel, will open for subscription today, on Friday and close on May 17, 2019. Shareholders as on the record date can participate in the rights issue, which is at a price of Rs220 a share.
Tata Motors: The company on May 2, 2019, presented its sales report for the month of April 2019 and reported 20 per cent decline in total sales during April at 42,577 units as compared with 53,511 units in the same month last year. Its commercial vehicle (CV) sales in the domestic market went down by 18 per cent to 29,883 units from 36,276 units in the same month last year. Its passenger vehicle sales in the domestic market also declined by 26 per cent to 12,694 units in April as compared with 17,235 units in April 2018. There was a dip on 53 per cent in the export in the month of April due to lower offtake in markets like Bangladesh, Sri Lanka and the Middle East.
Hero MotoCorp: The New Delhi-based Indian motorcycle and scooter manufacturer has presented the sales report for the month of April 2019 and reported a decline of 17.24 per cent in sales into 5,74,366 units in the month of April 2019. It sold 6,94,022 units in the same month last year.
HDFC Life: HDFC Life’s promoter Standard Life (Mauritius Holdings) will off-load 1.78 per cent stake – about 3,60,00,000 equity shares - in HDFC Life Insurance Co for Rs1,404 crore beginning Friday. The sale will be undertaken in two slots -- non-retail investors on Friday and for retail investors next week. The floor price of the sale is Rs390 per equity share and DSP Merril Lynch is the broker for the sale process on behalf of Standard Life.
IRCON International: The government-run engineering and construction firm, IRCON International Ltd, on Thursday, said it has bagged an order worth Rs635 crore (approximately USD 9 from Sri Lanka Railways. The contract is for upgradation of the northern railway line from Maho-Omanthai in Sri Lanka.