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Bajaj Finance, Coffee Day, DHFL Among Key Stocks in Focus Today

Indian stock markets were trading with modest gains on Wednesday, i.e. 18 September, after the previous session’s selloff. At 10:52 am, the benchmark S&P BSE Sensex was up 93.50 points, or 0.26%, to 36,574.59, while the Nifty 50 index rose 16.80, or 0.16%, to 10,834.40. Bajaj Finance, Coffee Day enterprises, DHFL, CG Power, Sintex Industries and Coal India were among the key stocks in news today. Read on to know more:

Bajaj Finance: Bajaj Finance Ltd shares rose as much as 2.9% after the board of the company approved raising up to Rs 8,500 crore via a qualified institutional placement (QIP) offering.

Coffee Day: Shares of Cofee Day Enterprises jumped up to 5% after the company announced it has executed definitive agreements with Blackstone Group and the Salarpuria Sattva Group for investment in GV Techparks Pvt. Ltd. The transaction is at an enterprise value of Rs 2,700 crore and will substantially bring down the debt level of the group.

CG Power: CG Power and Industrial Solutions Ltd shares shed 4.8% after market regulator Sebi barred ex-chairman Gautam Thapar and three other former officials from capital markets for ‘serious’ misstatement of accounts.

DHFL: Dewan Housing Finance Corp. Ltd (DHFL) shares lost 5.6% as the company defaulted on a total of Rs 256 crore worth of interest payment on non-convertible debentures (NCDs).

Sintex Industries: Sintex Industries Ltd shares fell 3.8% on reports that lenders are talking to three potential bidders for the debt-laden textile and yarn company to recover their dues totalling Rs 6,500 crore.

IIFL Finance: IIFL Finance Ltd shares gained 3.3% as BSE and NSE permitted listing and commencement of trading for IIFL Wealth and IIFL Securities from 19 September and 20 September, respectively.

Hindalco: Hindalco Industries Ltd shares inch up 1.3% as the company made its debut on the Dow Jones Sustainability Index (DJSI) 2019 in the emerging markets category.

Coal India: Coal India Ltd shares were down 1.8% on reports that the company is planning to hire 9,000 people, 4,000 of them in executive cadre, to fill up vacancies.

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Source: News18