Stocks in Focus on January 3: Hero MotoCorp, RITES to Banking Stocks; here are the 5 Newsmakers of the Day
Hero MotoCorp reported a 6.4 per cent, year-on-year, declines in total sales at 4.24 lakh units in December 2019 compared to 453,985 units sold in the same month of the corresponding year. The domestic sales of the Hero, in December 2019, stood at 4,12,009 units, down over 5 per cent, from 436,591 units sold in the last December. Exports declined from 17,394 units to 12,9836 units.
The domestic stock markets, Sensex and Nifty ended with sharp gains on Thursday, January 2, 2020. The gains were backed by encouraging domestic cues and supportive global stock markets. 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 Friday, January 3, 2020. Here is a list of five such stocks:
Hero MotoCorp: Hero MotoCorp reported a 6.4 per cent, year-on-year, declines in total sales at 4.24 lakh units in December 2019 compared to 453,985 units sold in the same month of the corresponding year. The domestic sales of the Hero, in December 2019, stood at 4,12,009 units, down over 5 per cent, from 436,591 units sold in the last December. Exports declined from 17,394 units to 12,9836 units.
Banks in Focus: Following a review of the current liquidity and market situation and an assessment of the evolving financial conditions, the Reserve Bank has decided to conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) for Rs10,000 crores each on January 06, 2020 (Monday). This is going to be the third OMO by RBI since December 23, 2019. The previous two OMO's were conducted on December 23, 2019, and December 30, 2019.
Peninsula Land/SBI: Peninsula Land on Thursday in its clarification on media reports on default of payment of Rs2.35 crores to the State Bank of India said that the reports were misleading and prone to misinterpretation. There was no default in payment of any financial obligation by the Company. It says Delays in rental payment by the Union Government resulted in a delay in payment to SBI on the due date. But, the Company has nevertheless paid the above-mentioned dues from its resources and regularised the said account. It also said, " the company has paid an amount of Rs265 crores towards repayment of debt and interest obligations in December 2019. Hence there is no question of defaulting for an amount as small as Rs. 2.3 5 crores".
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RITES: The engineering consultancy company, RITES, on Thursday said that it has secured a major work of project Management Consultancy from the Government of Bangladesh amounting to USD 14.01 Million (Rs99.94 crore) concerning 4 laning of National Highway in Bangladesh. RITES is a lead partner in the JV arrangement and will receive USD 10.88 Million (RS77.57 crore) out of the total consultancy fee.
IIFL Securities Ltd: Ace investor Rakesh Jhunjhunwala's RARE Enterprise bought 27.84 lakh shares of IIFL Securities at Rs42.83 apiece on Thursday.
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