Top 5 stocks in focus on September 12: Reliance Capital, Godrej Agrovet to Redington, here are the 5 newsmakers of the day
The domestic stock markets on September 11, 2018, closed in red after seeing a decline of 509 points on Sensex at the Bombay Stock Exchange and of 151 points on the Nifty at the National Stock Exchange. But there were certain stocks that came in the news after the market was closed for the day from trading.
The domestic stock markets on September 11, 2018, closed in red after seeing a decline of 509 points on Sensex at the Bombay Stock Exchange and of 151 points on the Nifty at the National Stock Exchange. But there were certain stocks that came in the news after the market was closed for the day from trading and can have an impact on the market on September 12, 2018. Here is the list of such stocks:
Reliance Capital Limited (RCL): The financial services company, RCL, has posted its financial report for the quarter ended on June 30, 2018. It has reported a consolidated net profit of Rs 272 crore. The company had registered a net loss of Rs 378 crore in the same period of 2017-18. Its total income in the first quarter of 2018-19 was at Rs 4,641 crore as against Rs 4,444 crore in the corresponding previous year.
Pharma companies: The stocks of various pharma companies will remain in focus as the health ministry has decided to ban 328 combination medicines, known as fixed-dose combinations (FDCs). Sources aware about the ban informed that the ban was issued on the recommendation of its technical advisory body, Drug Testing Advisory Board (DTAB) as the technical body feels that there is no therapeutic justification for these FDCs and they may be risky for patients.
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Godrej Agrovet Limited: The company has informed BSE that its Board of Directors will meet on September 14, 2018, to consider and approve Scheme of Amalgamation of Astec LifeSciences Limited (a subsidiary of the Company) with the Company and also to discuss on business strategies.
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Redington (India) Limited: The company's Board of Directors will be meeting on September 17 to consider a proposal to buy-back the fully paid-up equity shares of the company.
PNB Housing Finance Limited: Seven bidders have submitted non-binding offers to acquire PNB Housing Finance. The list of suitors, who submitted initial offers includes Godrej, Dewan Housing Finance, Bandhan Bank and a consortium led by GIC of Singapore and Blackstone.