Stocks in Focus on December 23: NIIT Tech; ICICI Bank to GAIL; here are the 5 Newsmakers of the Day
NIIT Technologies, BPCL/CONCOR, ICICI Bank, KEC International and GAIL are expected to remain newsmakers throughout the intraday trade session today.
Sensex, Nifty rose marginally around 0.1 per cent on Friday, December 20, 2019, amid mixed cues from global markets. The indices sharply pared gains and ended near the flat line as profit booking emerged at record high levels. Banks and metal stocks were in demand. However, there were some stocks, like NIIT Tech, BPCL, CONCOR and KEC International, came in news after the market was closed for trading purposes and can impact the indices when they will reopen on Monday, December 23, 2019. Here is a list of five such stocks:
NIIT Technologies: The board of NIIT Technologies will meet today to consider and approve the buyback of shares.
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BPCL/CONCOR: The government may issue Expression of Interest (EoI) for the privatisation of Bharat Petroleum Corporation (BPCL) and Air India in January. Besides, CONCOR along with other government representatives participated in an investor roadshow on December 22, 2019, in Dubai following the instructions of the Department of Investment and Public Assets Management (DIPAM), Government of India.
ICICI Bank: ICICI Bank has acquired 18.75 per cent equity (45,00,000 shares) in Karvy Data Management Services Limited (KDMSL) by invoking the pledged shares towards the recovery of dues from Karvy Stock Broking Limited.
KEC International: KEC International Ltd., a global infrastructure EPC major, an RPG Group Company, has secured new orders of Rs1,520 crore across its various businesses. Its urban transport business has secured an order of Rs 964 crore for the construction of elevated viaduct along with 8 stations of the Delhi Metro Phase IV project from Delhi Metro Rail Corporation (DMRC). The company's transmission and distribution business have bagged two orders of Rs391 crore for construction of 400 kV Transmission lines in Nepal. Its railways business has secured an order of Rs165 crore for construction of road overbridges (ROBs) in western India.
GAIL: The Department of Telecommunications has asked the state-owned gas utility GAIL India Ltd to pay past statutory dues Rs1.72 lakh crore following the Supreme Court's ruling on revenues that need to be taken into consideration for payment of government dues. In response, GAIL has told DoT that it owes nothing more than what it has already paid to the government.
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