Stocks in Focus on December 6: Allcargo, RBL Bank to M&M; here are the 5 Newsmakers of the Day
However, there were some stocks came in news after the market was closed for trading purposes on the day and can impact the indices when they reopen today, December 6, 2019. Here is a list of five such stocks:
Shedding the early gains, the domestic stock market ended lower after a volatile session on Thursday, December 5, 2019. However, there were some stocks came in news after the market was closed for trading purposes on the day and can impact the indices when they reopen today, December 6, 2019.
Here is a list of five such stocks:
Allcargo Logistics Ltd: The company on Thursday decided to buy 1.33 crore equity shares in GATI at Rs75 apiece via a preferential issue. Besides, its board has approved the issuance of Non-Convertible Debentures (NCDs) to raise Rs195 crore on a private placement basis.
RBL Bank: The Capital Raising Committee on Thursday approved the allocation of 7.77 crore shares at an issue price of Rs351 apiece, which is at a discount of 0.45% to the floor price of Rs352.57 each. The allocation price is at a discount of 4% to the closing prices of December 5. Bank has raised Rs 2025.3 via this QIP issue.
Yes Bank: Moody's Investors Service downgraded Yes Bank's long-term foreign-currency issuer rating to B2 from Ba3 on Thursday. The bank's long-term foreign and local currency bank deposit ratings were also downgraded to B2 from Ba3, while the foreign currency senior unsecured medium-term note program rating was also downgraded to (P)B2 from (P)Ba3. Similarly, the baseline credit assessment and adjusted BCA was downgraded to b3 from b1.
Maruti Suzuki: Maruti Suzuki India, the country's largest passenger car maker, will recall around one lakh vehicles of its smart hybrid vehicles due to the lithium-ion battery fire hazard. The second-generation smart hybrid to be recalled includes the Ciaz, the Ertiga and the recently launched XL6. It is estimated that around 3 lakh mild and smart hybrid cars are on road.
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Mahindra & Mahindra: The company has acquired 36.63% stake in Meru for Rs44.71 crore and it also acquired the right to appoint the majority of the Directors on the Board of Meru.