Top 5 stocks in focus on July 13: Fortis, IDBI to Cadila, here are the 5 newsmakers of the day
Sensex on Thursday touched an all-time high by crossing the mark of 36,500. On the same day, there were certain stocks, Fortis, HCL to Tata Steel, that came into news and will have a positive or negative effect on the market on Friday, .i.e. on July 13, 2018.
Sensex on Thursday touched an all-time high by crossing the mark of 36,500. On the same day, there were certain stocks, Fortis, HCL to Tata Steel, that came into news and will have a positive or negative effect on the market on Friday, .i.e. on July 13, 2018. Find the list of the five stocks that should be watched:
Fortis Healthcare: The cash-strapped Fortis Healthcare today said its board has unanimously accepted a binding offer from Malaysia's IHH Healthcare Berhad for equity infusion of Rs 4,000 crore in it by way of preferential allotment at Rs 170 per share. The approved bid says that Fortis will issue 23.5 crore shares to IHH at Rs 170 per share. In addition, the deal also offers a cash exit option to 26 per cent shareholders.
HCL Technologies Ltd: The company's board on Thursday approved a share buyback of up to Rs 4,000 crore at Rs 1,100 apiece. The buyback is for up to 3.63 crore fully paid up equity shares representing 2.61 per cent of the total shares of the company.
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IDBI Bank: The bank in a regulatory filing informed that a section of officers has threatened to go on a six-day strike from Monday to Saturday (July 16, 2018, to July 21, 2018) in protest against the proposed acquisition of the state-owned lender by insurance behemoth LIC and wage-related issues, among others.
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Tata Steel: The company is planning to sell some of its businesses in South-East Asia. The plan is a part of its strategy to exit non-scalable businesses and turn focus to the domestic market. Tata Steel has appointed a banker in Singapore to scout for buyers for NatSteel Holdings Pte Ltd (Singapore) and Tata Steel Thailand. The steelmaker values the businesses at about $500 million.
Cadila Healthcare: The Pharmaceutical company has received the final approval from the US Food and Drug Administration (USFDA) to market Zolmitriptan tablets, used to relieve a headache, pain, and other migraine symptoms. Now, the company will be able to market the drug in the strengths of 2.5 mg and 5 mg.