The benchmark stock indices on Thursday, August 22, ended at a six-month low after government’s chief economic adviser ruled out a stimulus, which dashed hopes of investors of quick revival in demand. The key benchmark indices – Sensex and Nifty – fell about 1.60 percent on Thursday, August 22, 2019, to close at their lowest level since February. Some stocks came in news post trading hours on Thursday and may impact the market as it opens for trading on Friday, August 23. Here are 7 stocks to watch out for today:
BHEL: CRISIL has revised the outlook on the long-term bank facilities of Bharat Heavy Electricals Ltd. to ‘Negative’ from ‘Stable’ while reaffirmed the rating at ‘AA+’. The rating on the short-term bank facilities have been reaffirmed at ‘A1+’
Reliance Capital: Jupiter India Fund has sold 27.5 lakh shares (1.09 percent) of Reliance Capital at Rs 35.88 each.
HDFC Bank: The Board has on Thursday, appointed Srinivasan Vaidyanathan as the Chief Financial Officer of the bank. Vaidyanathan earlier held the position of Group Head (Finance) in the bank. He would replace Sashidhar Jagdishan.
Glenmark Pharmaceuticals: Pharma major, Glenmark, is engaged in discussions with private equity fund PremjiInvest to sell 25-30 percent stakes in Glenmark Life Sciences (GLS). Glenmark Life Sciences is the newly hived off subsidiary of active pharmaceutical ingredient (API) products. The company has plans to sell minority stakes for USD 150 million (approx Rs 1,100 crore), valuing the business at USD 600-700 million ( about Rs 5,000 crore).
Britannia: An Indian food-products corporation and country’s largest biscuit maker, Britannia, has plans to marginally increase prices of its products in the third quarter of the current fiscal.
Future Retail: Amazon, the Seattle-based e-commerce giant, will acquire 49 percent stake in Future Coupons, a Future Group entity that holds a minority stake in Future Retail.
Shree Renuka Sugars: India Ratings and Research placed Shree Renuka Sugars Ltd’s Long-Term Issuer Rating of ‘BBB+’ on Rating Watch Negative (RWN).
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Source: News18