Top 5 stocks in focus on August 10: Jet Airways, Bhushan Steel to SBI, here are the 5 newsmakers of the day
Nothing seems to be stopping the domestic equity markets. On Thursday, the Sensex hit record highs and crossed the mark of 38,000 for the first time to close at 38,024.37. Similarly Nifty also went up to 11, 470.70 before closing.
Nothing seems to be stopping the domestic equity markets. On Thursday, the Sensex hit record highs and crossed the mark of 38,000 for the first time to close at 38,024.37. Similarly Nifty also went up to 11, 470.70 before closing. But there were certain stocks that came in the news after the markets were closed and can influence the market today, on August 10, 2018. Here is the list of 5 such stocks:
Jet Airways: The Naresh Goyal-run airline company that is facing financial headwinds has deferred announcement of June quarter numbers to an unspecified date.
Bhushan Steel: The Serious Fraud Investigation Office (SFIO) on Thursday arrested Neeraj Singhal, the erstwhile promoter and managing director of Bhushan Steel, for allegedly diverting loans accessed from banks. He is accused of using a web of transactions to divert and siphon off funds. He has been remanded in judicial custody till August 14 after being produced in court.
Vakrangee Limited: Market regulator has ordered Vakrangee Holdings Private Ltd. (VHPL ) to make a public offer to shareholders of Vakrangee Ltd. The orders were given in accordance with an investigation into promoter holding company transactions from 2013-2014. It has been asked VHPL to make a public announcement to acquire shares of Vakrangee within a period of 45 days from the date of this order. It also directed the company to offer 10 per cent interest on the shares that are acquired via the public offer and it should be paid from August 20, 2013, till the date of payment of consideration to the shareholders.
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GMR Infrastructure and Larsen and Toubro: GMR Infra issued LOIA to L&T for expanding Hyderabad airport. It is an order of Rs 3028 crore.
State Bank of India (SBI): The Public Sector Bank's board has decided to sell 4 per cent of its existing shareholding in SBI General Insurance to a non-promoter entity through small parcel share sale (SPSS).SBI General, formed in 2010, is a joint venture between SBI and the Insurance Australia Group.