Stocks in Focus on October 4: Tata Steel, SPARC to Bharat 22 ETF; Here are 5 Newsmakers of the Day
Domestic equity benchmarks on Thursday declined for the fourth session in a row amid negative cues from global indices, but certain stocks came in news after the market was closed for trading and they can have an impact on the indices when it reopens today.
Domestic equity benchmarks on Thursday, October 3, 2019, declined for the fourth session in a row amid negative cues from global indices. But, certain stocks came in news after the market was closed for trading and can have an impact on the indices when it reopens on Friday, October 4, 2019. Here is a list of five such stocks:
Tata Steel: Tata Steel has plans to go for 50% stake sale in e-commerce joint venture mjunction Services, an online marketplace for commodities from steel, diamonds to grains and tea. The stake sale will help Tata Steel to raise around Rs1,400 crore which will be used to pare debt. State-owned Steel Authority of India Ltd. holds the rest of mjunction.
Sun Pharma Advanced Research Company (SPARC): US health regulator has given orphan drug designation to the company's drug neonatal seizures with generic name Phenobarbital.
Mahanagar Gas (MGL): State-run MGL has cut prices for the compressed natural gas (CNG) by Rs 2.04 per kg and domestic piped natural gas (PNG) by Rs 2.04 per kg in and around Mumbai from midnight of Thursday.
NBFC Sector: The NBFC sector will be in focus today as Private equity (PE) firms Apollo Global, SSG, Oaktree Capital, Brookfield among others are negotiating with lenders to revive the troubled real estate lender Altico Capital India Ltd. Apollo Global Management has offered to invest up to $150 million in troubled real estate lender Altico Capital India Ltd, reports.
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Bharat 22 ETF: Bharat 22 ETF will open today for individual investors. The issue was open for anchor investors on October 3, who have put in Rs13,500 crore bid, around 27 times of the size. The minimum investment amount for individuals is Rs5,000, and they along with other investor categories will get a discount of 3%.
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