Stocks in Focus on December 26: Bharti Airtel, Piramal Enterprises to Wipro; here are the 5 Newsmakers of the Day
Bharti Airtel, Bharti Infratel, Wipro, Yes Bank and Piramal Enterprises are the top five stocks that are expected to remain newsmakers throughout the intraday trade session.
The domestic stock markets declined for the second consecutive session on Tuesday, December 24, 2019, as investors locked in some of the recent gains in thin trading ahead of the Christmas holiday. Significant selling in the last hour of trade pushed the Nifty below 12,250 level. However, there were some stocks, like Bharti Infratel, Wipro to Yes Bank, that came in news after the market was closed for trading purposes and can impact the indices when they will reopen on Thursday, December 26, 2019. Here is a list of five such stocks:
Bharti Infratel: Bharti Infratel, Indus Towers merger long stop date extended to February 24, 2020.
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Bharti Airtel: Airtel Malawi, a subsidiary of India’s Bharti Airtel, on Tuesday set the price of the IPO at Malawian Kwacha (MK) 12.69 ($0.021) per share. The company intends to raise MK 27.92 billion ($37.5 million). Airtel Africa pIc is a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa.
Piramal Enterprises: The company on Tuesday fixed January 7, 2020, as the record date for the proposed rights issue. January 21, 2020, is the closing date for the issue. The company aims at raising around Rs3,650 crore at Rs 1,300 per share. Besides, the company on Wednesday said its board will meet on December 28, 2019, to consider and approve the issue of secured non-convertible debentures on private placement basis to raise Rs2,750 crore.
Wipro: Wipro, one of India's biggest technology companies, is planning to double its overall revenue (from 10% to 20%) through consulting-led services over the next four to five years.
Yes Bank: Brickwork Ratings on Tuesday downgraded the ratings of Yes Bank’s Lower Tier II Bonds, from ‘BWR AA-’ to ‘BWR A’, and of upper Tier II Bonds, Hybrid Tier I Bonds and Innovative Perpetual Debt Instruments from ‘BWR A+’ to ‘BWR A-’. The outlook continues as negative.
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