Stocks in Focus on September 16: DLF, Reliance Home Finance to Force Motors; here are the 5 Newsmakers of the Day
Benchmarks domestic equity indices, Sensex and Nifty, on Friday, September 13, 2019, logged modest gains amid positive cues from global stocks.
Benchmarks domestic equity indices, Sensex and Nifty, on Friday, September 13, 2019, logged modest gains amid positive cues from global stocks. Both the indices went up by more than 0.75 per cent. But certain stocks, like DLF, ONGC and PNB Housing, came in news after the market was closed and can impact the market when it reopens for trading purpose on Monday, September 16, 2019. Here is a list of five such stocks:
DLF: The Real estate company has sold a nine-acre land parcel in Gurugram to American Express for Rs 300 crore.
Reliance Home Finance: CARE Ratings has downgraded Anil-Ambani-led Reliance Home Finance’s long-term debt programme, market-linked debentures, subordinated debt, non-convertible debentures (NCDs) and upper tier-11 NCDs to ‘D’. The action has been taken primarily due to delay in servicing of principal on one of the NCDs.
Oil and Natural Gas Corporation (ONGC): ONGC has been nominated to operate the Panna-Mukta oilfields. It can operate in the oilfields after the contract with Reliance Industries and Shell runs out in December.
Force Motors: The company would be observing 'Block Closure' at its plant at Pithampur, Madhya Pradesh, from Monday, September 16-21, 2019 (both days inclusive).
PNB Housing: Goldman Sachs Group, Premji Invest and Sunil Kant Munjal Family are in advanced talks to invest in PNB Housing Finance Ltd, media reports. PNB Housing has plans to raise Rs2,000 crore through limited preference route.