Stocks in Focus on November 18: Oil & Gas stocks, BPCL, Mahindra Life; here are the 5 Newsmakers of the Day
Oil & Gas stocks, BPCL, Sterling and Wilson Solar, Tata Steel and Mahindra Life are the stocks that are expected to remain in focus today.
Key equity barometers ended with minor gains on Friday, November 15, 2019. However, certain stocks came in news after the market was closed for trading purposes and can have an impact on the indices when it reopens on Monday, November 18, 2019. Here is a list of five such stocks:
Oil & Gas: Oil and Gas stocks will be in focus today as Saudi Aramco's, world's most profitable company, starts a share sales in an initial public offering (IPO) on November 17. It has a plan to sell 1.5 per cent of the company in the IPO, and it is taking bids from investors in a price range of 30-32 Saudi Riyals per share. Saudi Arabia has put a valuation of up to $1.71 trillion on state-owned oil giant Aramco.
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BPCL: Finance Minister Nirmala Sitharaman on Saturday said the government would wrap up the sale of Bharat Petroleum Corporation Limited (BPCL) and Air India by March 2020.
Sterling and Wilson Solar: The company in its clarification has said there is no reduction sought in the inter-company loan by the promoters from the company as mentioned in various media coverages. It said the company has made repayment of Rs250 crore till date.
Tata Steel: Rating agency Standard & Poors (S&P) has affirmed Tata Steel Ltd's Long-term Corporate Credit rating at BB-. It also revised the company's rating outlook to stable from positive. The company has completed its stake sale in its Vietnamese arm NatSteel to Thai Hung Trading for Rs36 crore.
Mahindra Life: ICICI Prudential raises its stake in Mahindra Lifespace Developers Limited by 2 per cent. The shares were acquired at Rs415.15 per share.