Stocks in Focus on May 8: DHFL, Balrampur Chini to Tata Sons; here are the 5 newsmakers of the day
At the stock markets, the Sensex at the Bombay Stock Exchange slumped 323.71 points to close at 38,276.63 on Tuesday, May 7, 2019.
At the stock markets, the Sensex at the Bombay Stock Exchange slumped 323.71 points to close at 38,276.63 on Tuesday, May 7, 2019. The Nifty at the National Stock Exchange slid 100.35 points to 11,497.90. But, there were some stocks that made news after the stock market was closed for trading on the day and can affect the market after it reopens on Wednesday, May 8, 2019, for trading purpose. Here is the list of five stocks:
Dewan Housing Finance Corporation (DHFL): The deposit-taking housing finance company on Tuesday said that the divestment of its stake in Aadhar Housing Finance Ltd will be completed soon as it has received approval from National Housing Bank. Balrampur Chini: The company’s buyback of the fully paid-up equity shares of the face value of Re 1 each not exceeding 84,38,327 shares at a price of Rs175 per equity share will open between May 16-29, 2019.
Alembic Pharma: Vadodara-based Alembic Pharmaceuticals Ltd on Tuesday announced the signing of a joint venture agreement with SPH SINE Pharmaceutical Laboratories Co Ltd and Adia (Shanghai) Pharma Co Ltd to promote and sell pharmaceutical products in the Chinese market. SPH, Alembic and Adia will respectively hold 51 per cent, 44 per cent and 5 per cent in the joint venture.
Tata Sons: The Directorate General of GST Intelligence (DGGI) has asked Tata Sons, the holding company of Tata Group, to pay around Rs1,500 crore as the GST (goods and services tax) dues. The company is liable to 18 per cent GST on payment of $1.17 billion to NTT Docomo which enabled the Japanese telecom firm to exit 26.5 per cent stake in Indian telecom operator Tata Teleservices Ltd (TTSL).
RBL Bank/ ICICI Lombard/ SBI Life/ HDFC Life: MSCI INC, a leading provider of research-based indexes and analytics, is likely to add RBL Bank, ICICI Lombard, SBI Life Insurance and HDFC Life Insurance in the MSCI India index in the forthcoming review. In addition, it may announce the results of May 2019 Semi-Annual Index Review for the MSCI Equity Indexes on May 13 and the changes will be applicable from May 29.
Exide Industries: The stocks of the company will be in focus as the government is considering a plan to establish battery making capacity of 40 gigawatts (GW) to give a boost to its electrical vehicles and renewable energy initiatives. Domestic and global battery makers will be asked to bid for setting up plants in the selected states.