Stocks in Focus on October 7: YES Bank, Bosch to Tata Motors; here are the 5 Newsmakers of the Day
Yes Bank, Bosch, Ashok Leyland, Tata Motors and ABB are the top five stocks that are expected to remain newsmaker today.
Domestic equity indices on Friday, October 4, 2019, declined for the fifth session in a row. The Sensex and Nifty, both, plunged more than one per cent amid mixed global cues. 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 Monday, October 7, 2019. Here is a list of five such stocks:
YES Bank: YES Bank is looking at raising $1-1.2 billion by December through a fully underwritten rights issue. However, PE investors, TPG, Carlyle and family offices of Indian business groups, are likely to pick up stake in the bank ahead of the rights issue in the open market. Besides, the private lender, Yes Bank, on Sunday said that it has lodged a complaint with Mumbai police and cyber cell against the dissemination of fake news and spread of rumours about the bank's financial health, which is tarnishing the image of the bank in the eyes of its depositor, stakeholders and general public.
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Bosch Ltd: To align production with sales requirements, the Company at its various plants belonging to Powertrain Solutions division, would continue to observe ''No Production Days'' ranging up to 10 days per month per plant during the third quarter of the Financial Year 2019-2020.
Ashok Leyland: Commercial vehicle major Ashok Leyland on Friday said that it has decided to observe non-working days ranging from 2-15 days during October 2019 at various plants. The non-working days will be observed to align its production in line with the sales.
Tata Motors: Tata Motors has bagged orders to supply 300 electric buses from Ahmedabad Janmarg. The company will supply Urban 9/9 electric model of buses that will run on Ahmedabad's Bus rapid transit system (BRTS) corridor.
ABB: Ministry of Power on Friday revised the guidelines for setting up of the electric vehicle charging infrastructure. Under the new guidelines, it has been envisaged in the Guidelines ensuring that at least one Charging Station should be available in a grid of 3 Km X 3 Km in the cities and one Charging Station at every 25 Km on both sides of highways/roads. The guidelines were revised to increase the availability of charging-related infrastructure in the next decade. The government will also install separate charging stations for heavy electric vehicles like buses or trucks after every 100 kilometres on both sides of highways.