8,792.20708.4
Stock Analysis, IPO, Mutual Funds, Bonds & More

Stocks in the news: India Cements, RIL, TVS Motor, YES Bank and Indiabulls Real Estate

Radhakishan Damani bought 16 lakh shares of India Cements on Wednesday at Rs 94.97 per share.

ETMarkets.com|
Last Updated: Mar 26, 2020, 08.57 AM IST
0Comments
Shutterstock.com
Rising Shutt
Europacific Growth Fund has sold 35.8 lakh shares of IndusInd Bank at an average price of Rs 298.83 per share.
NEW DELHI: Nifty futures on the Singapore Exchange traded 68.50 points or 0.82 per cent lower at 8,311.50, indicating a negative start for Dalal Street. Here are a few stocks which may buzz the most in today’s trade:

India Cements: Investor Radhakishan Damani bought 16 lakh shares of India Cements at Rs 94.97 per share, BSE bulk deal data showed. On Monday, India Cements said that Gopikishan Damani, Radhakishan Damani, Shrikantadevi Damani and Derive Investments have picked up 1.2 crore shares or 4 per cent stake through open market purchases

Reliance Industries: Promoter Devarshi Commercials LLP offloaded shares worth over Rs 11,000 crore in the firm through open market transactions. The data also showed that another promoter entity of Reliance Industries, Samarjit Enterprises LLP, bought these shares at the same price.

TVS Motor Company: The company said its Indonesia-based subsidiary will commence manufacturing operations from Thursday.

Indiabulls Real Estate: The NBFC will initiate process to buy back equity shares worth up to Rs 500 crore. In November last year, the company's board approved buyback of up to 5 crore fully paid-up equity shares, representing about 11 per cent of its total existing paid-up equity capital, at Rs 100 a share.

ACC: The cement major ACC said the company has postponed its AGM till April 6 due to the ongoing lockdown amid the coronavirus pandemic.The annual general meeting (AGM) was earlier scheduled for Wednesday.

IndusInd Bank: Europacific Growth Fund has sold 35.8 lakh shares of IndusInd Bank at an average price of Rs 298.83 per share, NSE bulk deal data on Wednesday showed

NTPC: State-owned NTPC announced completion of trial for second unit, of 660 megawatts, of its Khargone Super Thermal Power Project in Madhya Pradesh.

YES Bank: Even as YES Bank's capital position has improved considerably after fund infusion under its reconstruction plan, it will require an additional Rs 9,000-Rs 13,000 crore in the next 1-2 years, ratings firm ICRA said.

IOC: Indian Oil Corp, the nation's largest refiner, has cut capacity utilisation by 25-30 per cent at its refineries as demand for petroleum products has dramatically fallen in the wake of the coronavirus pandemic, the company said.

REC: State-owned REC said its board has approved a proposal to revise upward its borrowing for the current financial year to Rs 94,000 crore from the Rs 90,000 crore estimated earlier.

Shankara Building Products: CRISIL has downgraded its rating on bank facilities to CRISIL BBB+ from CRISIL A-. CRISIL also has downgraded its rating on the commercial paper to CRISIL A2 from CRISIL A2+. The downgrade reflects the moderation in the group’s overall business risk profile marked by continued supressed return on capital employed (RoCE) levels and working capital intensity.

Ashok Leyland: Long-term rating of the company has been downgraded to [ICRA]AA (negative); short-term rating reaffirmed at [ICRA] A1+.

Bank of Baroda: State-run Bank of Baroda said it has set up an emergency credit line to provide funds to its existing MSME and corporate borrowers impacted by the outbreak of coronavirus. Bosch on Wednesday said the suspension of operations at its plants will continue beyond March 31 till further notice.

Kalpataru Power Transmission: The company said that it has closed all its offices, sites and plants across the country in view of COVID-19 outbreak. However the company would run its Biomass Power Generation Plants at Uniara and Padampur, in the State of Rajasthan.

ONGC: The oil firm, which produced 64.5 million standard cubic meters of gas per day till earlier this week, has reduced the flow to 59.8 mmscmd on Wednesday, and will further cut by another 3 mmscmd on Thursday, sources aware of the development said.
Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service