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Stocks in Focus on February 7: Yes Bank, Adani Enterprises to IB Housing; here are the 5 Newsmakers of the Day
Yes Bank, Adani Enterprises, Adani Transmission, Tata Motors/M&M, Indiabulls (IB) Housing Finance are expected to remain newsmakers throughout the intraday trade session today
Domestic shares advanced for the fourth trading session on Thursday, February 6, 2020, after Reserve Bank of India (RBI)'s Monetary Policy Committee (MPC) refrained from slashing repo rate and maintained an accommodative stance. However, it announced certain measures aimed at ensuring better monetary policy transmission. But certain stocks came in news after the market was closed and can impact the indices when it reopens in the morning on Friday, February 7, 2020. Here is the list of five stocks:
Yes Bank: The private-sector lender's extraordinary general meeting (EGM) will be held today in Mumbai to increase authorised capital. The bank seeks to increase the authorized share capital from Rs 800 crore to Rs 1,100 crore.
Adani Enterprises: Adani Defence & Aerospace and Airbus India have signed a Memorandum of Understanding (MoU) to leverage synergies in aerospace and civil aviation sector. As per the seal, the two companies will explore opportunities for collaboration in the area of aircraft services for Indian and South Asian market.
Adani Transmission: Its subsidiary Adani Electricity Mumbai Ltd (AEML) has raised $1 billion (over Rs7100 crore) by USD bond issuance.
Tata Motors/M&M: Tata Motors has extended the shutdown of the JLR plant that it runs in China and has asked its around 3,000 personnel there to work from home due to coronavirus outbreak. M&M may face difficulties in receiving the supplies of components for BS-IV vehicles because of the situation in China.
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Indiabulls (IB) Housing Finance Ltd: Credit Suisse Singapore sold 40 lakh shares of IB Housing.
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