Stocks in Focus on January 2: Concor, SAIL to Auto Stocks; here are the 5 Newsmakers of the Day
The domestic stock markets started the new year, January 1, 2020, on a positive note and closed with marginal gains. However, some stocks that came in news after the market was closed for trading purposes.
The domestic stock markets started the new year, January 1, 2020, on a positive note and closed with marginal gains. However, some stocks that came in news after the market was closed for trading purposes. They can impact the indices when they will reopen for trading on Thursday, January 2, 2020. Here is a list of five such stocks:
Concor: Inter Ministerial Group (IMG) is scheduled to meet today to decide on disinvestment of the company.
Bharti Airtel: Will seek shareholders approval to raise capital. It has plans to raise Rs21,500 crore via QIP.
SAIL: Steel Authority of India Limited (SAIL) has registered sales growth of 47% in December 2019 as compared to the same month of the corresponding year. It reported December sales at 1.68 million tonnes, which is the highest ever sales by the company in a month.
Media Stocks in Focus: TRAI on Wednesday amended its tariff order for the broadcasting and cable services sector, which was implemented in February 2019. With this, TRAI has reduced the cap on the MRP of individual channels, which is part of any bouquet to Rs12 from Rs19. It said channels priced above Rs12 will be permitted in a bouquet offered by the broadcasters. It also reduced the maximum NCF charge to Rs130 (excluding taxes) for 200 channels. It has asked broadcasters to publish the revised pricings of channels and bundles on their website before January 15. The new orders will be implemented from March 1, 2020.
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Auto Stocks: Auto stocks will be in focus today as auto companies have announced a December wholesale auto sales report on January 1, 2020. Tata Motors has reported a 12% decline in domestic sales at 44,252 units from 50,440 units in December 2018. Domestic commercial vehicles (CV) sales declined by 13% to 31,469. Passenger vehicles sales declined 10% to 12,785 units. Similarly, Eicher Motors (VECV) sales in the domestic market fell 13.7% to 4,410 units from 5,112 units in December 2018. Total VECV sales fell 19.1% to 5,042 unit from 6,236 units.
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