Stocks in Focus on April 18: Reliance, Jet Airways and Mindtree; here are the 5 newsmakers of the day
Indian domestic stocks market on Tuesday, April 16, 2019, ended with strong gains on positive global cues but there were certain stocks, that came in the news after the market was closed for the day.
Indian domestic stocks market on Tuesday, April 16, 2019, ended with strong gains on positive global cues but there were certain stocks, that came in the news after the market was closed for the day. These stocks can have an impact on the market on Thursday, April 18, 2019. Here is a list of five such stocks:
Reliance Industries: Saudi Arabia’s state energy group, Saudi Aramco, is in talks with Mukesh Ambani’s Reliance Industries Ltd (RIL) to buy up to a 25% stake in its refining and petrochemicals business. The deal or minority stale sale could fetch around $10-15 billion ($1000-15000 crore). In addition, Reliance Retail is in talks to acquire Hamleys from the Chinese company that owns the famed UK toy seller. Besides, the Indian conglomerate said on Wednesday that Japanese shipping group Mitsui OSK Lines Ltd will add six very large ethane carriers (VLECs) to its fleet through an investment deal with Reliance Industries Ltd.
Jet Airways: The cash-strapped carrier shuts down its operations. The company on Wednesday announced its last flight after 25years of operations as lenders refused to offer it Rs 400-crore lifeline.
Mindtree: The company has posted fourth-quarter results of FY19. It has matched its guidance and reported better growth by registering 3.9 per cent sequential rise in revenue. Additionally, the company has announced a special dividend - on the heels of a takeover bid by Larsen and Toubro Ltd (L&T) - of Rs20 per equity share. This may well force L&T to raise its offer price for Mindtree by a similar amount.
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CRISIL: The country’s largest rating agency has posted its Q4FY19 results and it seems that its performance has hit a rough patch as the agency has reported 6.1 per cent decline in net profit and 5.2 per cent in EBITDA.
Tata Steel BSL: Formerly Bhushan Steel on Wednesday posted its Q4FY19 results and said that its net loss has narrowed to Rs 212.36 crore from a net loss of Rs21,253 crore that it reported in previous fiscal.