Stocks in Focus on October 18: ZEEL. Aviation Stocks to L&T Infotech; here are the 5 Newsmakers of the Day
Zee Entertainment Enterprises, NIIT, NOCIL, L&T Infotech and aviation stocks are expected to remain newsmakers today.
Key benchmark indices rallied on Thursday, October 17, 2019, supported by banks, autos and FMCG stocks. Key domestic barometers extended gains to the fifth day. However, 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 Friday, October 18, 2019. Here is a list of five such stocks:
Zee Entertainment Enterprises (Q2, YoY): Zee Entertainment Enterprises Ltd (ZEEL) on Thursday reported a 6.9% rise in net profit at Rs413.2 crore for the second quarter ended September 2019, driven by strong performance in domestic broadcast and digital businesses. Its revenue rose 7.4% to Rs2,122 crore and EBITDA rose 4.7% to Rs684.2 crore. Margin stood at 32.2% versus 33.1%.
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NIIT: NIIT record date for a share buyback. NIIT had approved a proposal to buy back 2.68 crore shares, or 16 per cent of its equity, at Rs125 a share for Rs335 crore through the tender route.
Aviation stocks: Aviation stocks will be in focus today as data issued by the Directorate General of Civil Aviation (DGCA) on Thursday said the domestic air passenger traffic fell for the fourth consecutive month during September. Domestic scheduled carriers carried 11.53 million passengers in September, compared with 11.79 million passengers in August. They had carried 11.90 million passengers in July. Besides, the data also shows that Indigo's market share went up to 48.2% from 47% (MoM) while Spicejet's local market share decreased to 14.7% from 15.5% (MoM).
NOCIL: The Chemical manufacturing company NOCIL has started trial production of Phase II of expansion at the company's plant situated at Dahej, Gujarat from October 17, 2019. Rubber chemicals will be manufactured at the plant. In January last year, the Board had approved CapEx of Rs 255 crore for expansion of capacities in Navi Mumbai and Dahej.
L&T Infotech: Larsen & Toubro Infotech Ltd said on Thursday it has agreed to acquire 100% stakes of the consultancy PowerupCloud Technologies Pvt. Ltd for value estimated at Rs105 crore ($15 million). The company will be acquired as part of efforts to strengthen its cloud services capabilities. Besides, the company has posted Q2FY20 financial results and reported a 3.5% rise in its revenue at Rs2,570.7 crore against Rs2,484.9 crore (QoQ). Net Profit grew by 1.2% to Rs360.1 crore against Rs355.8 crore.
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