Monday, June 17, 2024
Home > Stock Market > Stocks in Focus on July 8: Mishra Dhatu, Maruti Suzuki to Bharti Airtel; here are the 5 Newsmakers of the Day

Stocks in Focus on July 8: Mishra Dhatu, Maruti Suzuki to Bharti Airtel; here are the 5 Newsmakers of the Day

[ad_1]

The market extended its winning run for the fifth consecutive session on Tuesday, July 7, 2020. The barometer S&P BSE Sensex gained 187.24 points or 0.51% at 36,674.52. The Nifty 50 index added 36 points or 0.33% at 10,799.65. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, July 8, 2020. List of such five stocks:

Mishra Dhatu Nigam (MIDHANI): Government plans to sell a 10% stake in the company via the offer-for-sale (OFS) route. It has invited applications from the merchant bankers to manage the proposed issue and they can place their bids till July 22, 2020. The Centre holds 74% of the equity of MIDHANI. 

Maruti Suzuki (Production in June 2020): The car manufacturer on Tuesday announced the production figures of the company for June 2020. Total production declined by 54.7% year-on-year to 50,742 units when compared to 1,11,917 units produced in the same month last year. On a month-on-month basis, the production jumped 13.7x from 3,714 units it produced in May 2020. Additional Details (YOY) 

Mini+ Compact Sub-segment: declined to 36,290 units from 81,523 units
Passenger Vehicle: declined to 49,476 units from 1,09,641 units
Light Commercial Vehicle: declined to 1,266 units from 2,276 units.

Bharti Airtel: Telecom major Bharti Airtel has announced a fresh prepaid recharge plan for its users along with full access to the entire ZEE5 catalogue. The plan also includes 1.5GB data per day and unlimited calling,

Titan (Q1FY21 Business Update): The Tata-group owned Jewellery Company, Titan on Tuesday said it has reopened 83% of its stores across all businesses as at the end of June. It said its jewellery division revenues in May and June were at slightly below 20%, while its watches division revenue in the same period was at 5%. Besides, in the context of Tanishq, it said that 95% of stores have reopened. The firm also said that it had added six Tanishq stores in Q1 (on a net basis) and one Mia store. 

Triggers: Cabinet Meet + PI industries + ICICI Bank + AB Fashion + Maharashtra Hotels + Results

Cabinet Meet: Union Cabinet meeting will start at 11 am today.

PI Industries: QIP Committee will meet today to consider issue price, including discount (if any), for the equity shares to be allotted to qualified institutional buyers. The company has plans to raise funds to Rs 2,000 crore through QIP. The QIP has been launched at an indicative price of Rs 1534.24 per share. A discount of 5% is expected on the floor price. 

ICICI Bank: The private lender’s board will meet today to consider the proposal of raising funds by issue of equity shares as it looks to further strengthen its balance sheet.

Aditya Birla Fashion and Retail Ltd (ABFRL): The Rs 995 crore rights issue of ABFRL will open today. The rights issue will allow existing shareholders of the company to subscribe to shares at Rs 110 per share. The issue will close on July 22, 2020. Existing shareholders are eligible for nine shares for every 77 existing shares held by them.

Maharashtra Hotels: Under the fifth phase of Mission Begin Again plan of Maharashtra government, the state government has issued fresh guidelines allowing reopening of hotels, lodges and guest houses with 33% capacity. These facilities will reopen with strict conditions from today.

See Zee Business Live TV Streaming Below:

Results: Automotive Stamping and Assemblies (Q4FY20), Dish TV (Q4FY20), Kokuyo Camlin (Q4FY20), and South Indian Bank (Q1FY21) will be announcing their financial results of the respective quarter’s today.



[ad_2]

Source link

Leave a Reply

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