The market snapped the four-day losing streak on Wednesday, February 19, 2020. Sensex jumps 428.62 points, while Nifty settled at 12,125.90. But certain stocks came in news after the market was closed and can impact the indices when it reopens in the morning on Thursday, February 20, 2020. Here is the list of five stocks:
Telecom Stocks in focus: The statutory dues, Adjusted Gross revenue (AGR), of the telecom operators is set to rise sharply by as much 40%. The Department of Telecommunications (DoT) is now calculating the dues for FY19 and FY20. The previous AGR dues were calculated till FY17. Besides, the DoT will hold a meeting with telecom operators and equipment vendors on 5G field trials.
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Axis Bank/Max Financial: The boards of the two companies are scheduled to meet today. They at the meeting may discuss the proposal of selling partial stakes of Analjit Singh to Axis Bank. Max founder Analjit Singh holds 28.31% stakes in Max Financial of which almost 71.54% shares are pledged.
Tata Power: Three global investors companies including Brookfield, Omers, Mubadala and Abu Dhabi Investment Authority may invest around Rs 3,500-Rs4,200 crore in Tata Power’s InvIT (Infrastructure Trust), a renewable energy platform.
IDBI/Axis/ HDFC Bank/SBI/Canara/Kotak: National Securities Depository Limited (NSDL) likely to make an initial public offering (IPO) of more than Rs 1,000 crore in the next few months. This IPO will allow some of its existing shareholders to fully or partly exit their investment. IDBI Bank has the largest shareholding with 30% stakes in the company, as promoters. Axis Bank, HDFC Bank, SBI, Canara, Kotak Mahindra Life Insurance among others own 1-5% stakes under the public category.
Simplex Infrastructures/VST Industries: Radhakishan Damani bought 2.28% and 3.26% in Simplex and VST Industries respectively in December quarter. Besides, the Adani Group is in talks with promoters of Simplex Infrastructures to take equity exposure in the latter through a fresh share sale.