Monday, May 27, 2024
Home > Stock Market > Stocks in Focus on August 31: Wockhardt, Future Group, SBI to NMDC; here are the 5 Newsmakers of the Day

Stocks in Focus on August 31: Wockhardt, Future Group, SBI to NMDC; here are the 5 Newsmakers of the Day

[ad_1]

Domestic equity benchmarks ended with significant gains on Friday, August 28, 2020, after the US Federal Reserve said it might keep interest rates low even if inflation rises, in a major overhaul to its strategy. the S&P BSE Sensex, advanced 353.84 points or 0.90% at 39,467.31. The Nifty 50 index gained 88.35 points or 0.76% at 11,647.60. The rally was supported by banks shares. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Monday, August 31, 2020. List of such five stocks:

Triggers: There are certain events, like Result today, unlock3.0, GDP, Dow Jones, UK market, which can create positive/negative reactions in the markets. Find them in detail:

Results Today:

Cash: Setco Automotive (Q4FY20), Sadbhav Infra, Dredging Corp, Uniply Industries (Q4FY20+Q1FY21), GNFC, Shree Renuka Sugar, Bharat Dynamics, Pricol, Jai Corp, Shivam Autotech, JK Cement, Spandana Sphoorthy, NHPC, Speciality Restaurants, Arvind 

Unlock 3.0: Today is the last day for unlock 3.0.
GDP Numbers: India’s Q1FY21 GDP figures to come today.
Dow Jones: Dow Jones Indices will make some changes to the rest of the index, booting out some lower-priced stocks today. Honeywell, Amgen Inc., Salesforce Inc. will be included to the Index, while Exxon Mobile, Pfizer, Raytheon Technologies Corp will exit the index before trading begins Monday, i.e. August 31, 2020.
UK market: The market will remain closed today.

Post Market Results: Wockhardt has reported its financial result for the first quarter of the financial year 2020-21 (Q1FY21) after the market was closed on Friday. Find in details: 

Wockhardt: Drug firm Wockhardt on Saturday reported a consolidated profit of Rs 760 crore for the quarter ended June 30, 2020, against a loss of Rs 45 crore it posted in the corresponding quarter last year. Consolidated revenue from operations dropped 17.5% to Rs 598 crore as against Rs 725 crore posted in the year-ago period.

Future group in focus: Future Group will sell 13% stakes to Reliance Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited. RRVL is acquiring the retail, wholesale, logistics and warehousing business from the Future Group for aggregate consideration of Rs 24,713 crore. The above acquisition is being done as part of the scheme in which the Future Group is merging certain companies carrying on the aforesaid businesses into Future Enterprises Limited (FEL). Post the deal Mukesh Ambani’s Reliance Retail Ventures (RRVL) will take over the debt of Rs 12,500 crore of Kishore Biyani’s Future Enterprises Ltd.

SBI: The Bank Board Bureau, the selection panel for top jobs at the state-run lender, has recommended Dinesh Kumar Khara as its first choice candidate to succeed Rajnish Kumar as the bank’s chairman. Kumar is due to retire in October. Khara is the managing director of the bank at present. Besides, the bureau has also suggested CS Setty, another MD at the bank, as the second option for the top job.

Watch Zee Business live TV below:

National Mineral Development Corporation (NMDC): Union Minister for Coal and Mines Pralhad Joshi on Friday said a decision would be taken on the contentious Donimalai iron ore issue in three months. Iron ore-rich Donimalai was in the custody of state-owned NMDC for 50 years when its lease period ended in 2018. The matter on renewal of the lease will be taken up between the central and Karnataka Government. The company will have to pay 22.5% royalty on renewal of the mine.



[ad_2]

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *