While Sensex and Nifty shed off majority of their early gains in the last trading hours on Monday, August 19, certain stocks came in news post market closure for trading purposes. One can expect these in playing decisive role in driving the stock market on August 20. Here’s a look at five of those stocks.
Tata Motors: On Monday, CARE Ratings downgraded Tata Motors long-term credit rating to AA- (negative) from AA stable. This comes amid mid-weak financial performance reported by its British subsidiary Jaguar Land Rover Automotive PLC (JLR) for FY19 and Q1FY20. CARE Ratings, however, reaffirmed Tata Motors rating on short term bank facility and commercial paper at ‘A1+’.
Mangalore Refinery and Petrochemical Limited (MRPL): On Monday, MRPL informed the stock exchange that it has shut the Phase-III process units of the refinery as a precautionary measure following a minor landslide due to intense monsoon in Dakshina Kannada district. Phase-I, Phase-II and product dispatch facilities are unaffected and are operating normally.
Vodafone Idea Limited: Vodafone Group’s India representative Ravinder Takkar has been appointed as Managing Director and chief executive officer (CEO) of Vodafone Idea Ltd on Monday after the post was vacated by Balesh Sharma citing personal reasons.
NTPC: NTPC, the largest power producer in the country, plans to set up an ultra-mega solar park in Gujarat’s Kutch region at an investment of Rs 20,000 crore or more. The park is expected to produce up to 5,000 megawatts. Not just this, NTPC is also contemplating spot market options to sell some part of its solar power, without signing long term power purchase agreements.
Dewan Housing Finance Corporation (DHFL): On Monday, DHFL revealed that it has defaulted on financial repayment obligations worth Rs 1,571 crore regard to issuance of bonds and commercial papers. The DHFL defaults pertain to three cases with regard to interest payment on non-convertible debentures and commercial papers, the firm said in a regulatory filing.
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Source: News18