Stocks in Focus on September 6: Sun Pharma, Reliance Industries to Tech Mahindra; here are the 5 Newsmakers of the Day
Reliance Industries, Sun Pharmaceutical Industries, Bajaj Finance, L&T Finance Holdings and Tech Mahindra are the top 5 stocks that would remain in focus today.
Domestic stocks markets closed flat on Thursday, September 5, 2019, amid volatility. Sensex lost 80.32 points to close at 36,644.42 while Nifty 50 rose 3.25 points and settled at 10,847.90. But certain stocks came in news after the market was closed and can impact the market when it reopens for trading purpose on Friday, September 6, 2019. Here is a list of five such stocks:
Sun Pharmaceutical Industries: Drug major Sun Pharma on Thursday said that a forensic audit has been ordered by the markets regulator SEBI. The audit has been ordered on the company’s financial statements for the financial years ending March 31, 2016, March 31, 2017, and March 31, 2018. The said forensic audit is presently ongoing.
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Bajaj Finance: Board of Directors of the company will meet on September 17, 2019, to consider and approve the proposal for raising fund by way of qualified institutions placement ('QIP') to raise around Rs7,000 crore.
Reliance Industries or RIL: Mukesh Ambani-led Reliance Industries on Thursday announced the launch of Jio Fiber broadband services offering minimum internet speed of 100Mbps for a monthly rental of Rs699. The company in a statement said, Jio Fiber will offer broadband internet speeds of up to 1 Gbps for Rs8,499 per month. Besides, the company along with BP are seeking buyers for natural gas from their deep-sea project in the KG-D6 block. CRISIL Risk and Infrastructure Solutions Ltd have been appointed to manage the bidding process and evaluate the bids, which must be submitted electronically on October 10.
L&T Finance Holdings: The Board of Directors of the Company is scheduled to meet on September 11, 2019, to consider and approve raising of funds through proposed Issue aggregating up to Rs 100 crore and determine the issue price for the proposed Issue.
Tech Mahindra: The Mumbai-based software services provider Tech Mahindra on Thursday announced a strategic deal with leading American network operator AT&T to accelerate AT&T’s IT network application, shared systems modernization and movement to the cloud. Tech Mahindra will assume management of many of the applications which support AT&T’s network and shared systems.