Stocks in Focus on September 20: Aviation Stocks, Delta Corp, Zomato, Lupin to Asian Energy Services; here are the 5 Newsmakers of the Day
At the stocks markets, the benchmark indices declined from record-high levels and snapped the three-day winning streak on Friday, September 17, 2021.
At the stocks markets, the benchmark indices declined from record-high levels and snapped the three-day winning streak on Friday, September 17, 2021. The S&P BSE Sensex fell 125.27 points or 0.21 per cent to end at 59,015.89 while the Nifty 50 index dropped 44.35 points or 0.25 per cent to 17,585.15. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Monday, September 20, 2021. List of such five stocks:
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Aviation + Tourism
Aviation Stocks: Stocks like InterGlobe and SpiceJet will be in focus today as the Civil Aviation Ministry has allowed airlines to operate flights at 85 per cent capacity. The Ministry has modified its earlier order on August 12, 2021, stating that the passenger capacity has been increased from 72.5 per cent to 85 per cent. Earlier on September 3, 2021, Zee Business exclusively reported the update. The fare band will be applicable for 15 days only. Airlines are not required to stick to the fare band for the remaining 15 days of the month. Besides, stocks like InterGlobe, Spicejet, Tejas Aviation and Global Vectra will be in focus also as IGST will not be levied on the import of leased aircraft.
Hotel Stocks + Easy Trip + Thomas Cook + IRCTC + Airlines: Prime Minister Narendra Modi has said that there is a special focus on the states with tourism destinations in the country and efforts are being made in prioritizing the tourist destinations in its vaccination efforts. He said, it was important for our tourism destinations to open and the government is focused on bringing the tourism destinations to the pre-COVID situation. International tourism will be promoted in the country. The government has a special focus on vaccination at destinations like Goa, Himachal Pradesh, Kerala, Andaman and North East. The Central government has also recently taken several steps to encourage foreign tourists. The first dose has been given to 100% eligible people in Goa and Himachal Pradesh. The pace of vaccination has also increased in the North East including Kerala and Tripura.
Delta Corp + Nazara Technologies
Delta Corp: The government of Goa has allowed the reopening of the Casinos in the State. All the casinos operated by the Company and its subsidiaries in Goa will resume operations from September 20, 2021. With the opening of the casinos in Goa, all casinos operated by the Company and its subsidiaries (in Goa, Sikkim & Nepal) and The Deltin, the hotel in Daman operated by the Company's subsidiary, will be operational.
Nazara Technologies: NODWIN Gaming, a material subsidiary of Nazara Technologies Limited, has acquired the Gaming and adjacent IP business of OML Entertainment for Rs 73 crore. This transaction allows NODWIN Gaming to massify gaming and esports by tapping into emerging synergies in gaming entertainment that a 14–30-year-old is looking for. It enables the firm to build IPs that are relevant to fans and are more brand-centric.
Zomato + Info Edge: The GST council has decided to levy 5% GST on food delivery platforms such as Swiggy and Zomato. Apps will be responsible to collect GST from the restaurants they pick up the orders from January 1, 2021. Cloud kitchen has been considered as a restaurant and 5% GST will be charged on them as well. Besides, Zomato Limited in its clarification on a news article - Zomato cofounder Gaurav Gupta quits two months after IPO - has said that Mr Gupta is not designated as key managerial personnel under the Companies Act, 2013. He was neither a promoter nor was holding any equity in the company. His exit from the Company does not warrant any disclosure
Lupin + Cadila Healthcare:
Lupin: US FDA has concluded an inspection at our Goa facility in India. The inspection was carried out from September 6, 2021, to September 18, 2021, and closed with seven observations. The company says that it is confident of addressing the observations satisfactorily and are committed to being compliant with Good Manufacturing Practice standards across all our facilities.
Cadila Healthcare: Zydus Cadila receives final approval from USFDA for Vortioxetine Tablets in the strengths of 5 mg, 10 mg, 20 mg (US RLD: Trintellix Tablets). Vortioxetine is used to treat depression.
Asian Energy Services: The Board of Directors of the Company have approved an investment in VAAN Electric Moto Private Limited, India as a strategic investment in the emerging electric mobility sector. The company will acquire a significant minority stake in VAAN with a board seat and has an option to increase its stake to a strategic 26% in future. Further, the company will also explore entry in the business of EV charging related infrastructure development, Operations & Maintenance, e-waste handling & recycling etc with VAAN. The company proposes to be a major partner in this business segment. VAAN is a new premium lifestyle electric mobility company engaged in the design, assembly and marketing of high-tech e-bikes, e-mopeds, e-scooter etc.
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