Stocks in Focus on October 16: ACC, SBI Life to ONGC; here are the 5 Newsmakers of the Day
ACC, SBI Life, Can Fin Homes, ONGC and Equitas Holdings are the five stocks that are expected to remain newsmakers today.
Key benchmark indices ended with strong gains on Tuesday, October 15, 2019, tracking positive global sentiments triggered by China confirmation on the phase-one trade deal with the US. But, certain stocks came in news after the market was closed for trading purposes yesterday and can have an impact on the indices when it reopens on Wednesday, October 16, 2019. Here is a list of five such stocks:
ACC: The cement major ACC on Tuesday posted its Q3CY19 financial results and reported a 46.34 % rise in consolidated net profit at Rs300 crore against Rs205 crore in the corresponding period of the last fiscal. EBITDA grew by 25.51% at Rs556 crore against Rs443 crore of the corresponding quarter. The EBITDA margin was at 15.76% versus 12.9% YoY.
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SBI Life: The private life insurer SBI Life Insurance posted drop in its Q2FY20 net profit to Rs130 crore from Rs251 crore in the corresponding quarter of the previous fiscal Q2FY19. However, its net premium income grew to Rs10,112 crore from Rs7,662 crore.
Can Fin Homes Ltd.: Private equity major, Baring Partners, and a strategic investor are in the race to buy 30% stakes in Can Fin Homes, a housing finance subsidy of Canara Bank.
ONGC: ONGC Videsh has made oil discoveries in Colombia and Brazil.
Equitas Holdings: DSP Mutual Fund buys 7.57 lakh shares of Equitas Holdings. With this, DSP Mutual's stake in Equitas Holdings has gone up to 5.11% from 5%.
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