Stocks in Focus on November 19: Telecom Stocks, SBI Life to Maruti Suzuki; here are the 5 Newsmakers of the Day
SBI Life, ICICI Bank, Maruti Suzuki, telecom and metal stocks are expected to remain newsmakers throughout the day.
Reversing early gains, the key equity barometers ended with small losses on Monday, November 18, 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 Tuesday, November 19, 2019. Here is a list of five such stocks:
Telecom Stocks: Telecom stocks will be in focus today as Vodafone Idea and Bharti Airtel would increase tariffs from December 1, 2019. The decision was taken after they posted historic losses on account of provisioning for the AGR pending dues. Besides, the committee of secretaries is likely to meet this week to discuss the ways to give relief to telecom companies, sources. They may decide on reducing the spectrum usage charges from 3% to 1-2%. Also, Cellular Operators Association of India (COAI) on Monday said, the government should grant telecom companies a three-year moratorium followed by an extended timeline for payment of all statutory dues at easier interest rates. The action should be taken as the telecom sector is reeling under massive losses after the Supreme Court ruling on AGR liabilities.
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SBI Life: CA Emerald Investments, an arm of global private equity major Carlyle Group, is selling 3% stakes in SBI Life at a valuation between Rs2,790-2,820 crore. The price band for the deal is Rs 930-940 a share, a discount of 7-6% over Monday’s closing price of Rs1,000.
Metal Stocks: Metal stocks will be in focus today as reports suggest that China is pessimistic about the trade deal with the US as President Trump is reluctant to tariff rollback.
ICICI Bank: ICICI Bank has plans to raise Rs2,000 crore by selling 6-7% equity stakes to institutional investors, published reports. The raised money will be used to capture the lending market in the infrastructure sector that has been vacated by the NBFCs.
Maruti Suzuki: India's largest carmaker Maruti Suzuki India has raised the price of WagonR BS-VI. The new BS-VI cars will be priced between Rs4.42-5.41 lakh. The price hike is effective from today.
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