Stocks to watch: Apollo Tyres, India Cements, HUL, GSK Consumer, IDBI Bank
At 08:42 am, Nifty futures on the Singapore Exchange (SGX) were trading 54 points or 0.46 per cent lower at 11,671 levels, indicating a negative start for the Indian market on Thursday.
Here's a look at the top stocks that may remain in focus today –
Apollo Tyres: Apollo Tyres on Wednesday said private equity firm Warburg Pincus will invest Rs 1,080 crore (around $150 million) in the company.
India Cements: Radhakishan Damani and his brother Gopikishan S Damani, bought 27,25,468 and 83,71,516 shares, respectively on Wednesday, NSE bulk deal data showed. Gopikishan bought shares at an average price of Rs 98.42 apiece while Radhakishan purchased at Rs 104.16.
Oil-linked stocks: Oil prices fell for a fifth day on Thursday to their lowest since January 2019 as a growing number of new coronavirus cases outside of China deepened fears that the global economy will slow and lower crude demand.
IDBI Bank: According to a report by The Economic Times, Rakesh Jhunjhunwala's RARE Equity, HDFC Life Insurance and ICICI Prudential Life Insurance are in race to acquire a significant stake in IDBI Federal Life Insurance.
Thomas Cook (India): The company's board has approved buyback of 26,086,956 shares valued at Rs 150 crore.
HUL, GSK Consumer: FMCG major Hindustan Unilever Ltd (HUL) on Wednesday said the Chandigarh bench of National Company Law Tribunal (NCLT) has approved the scheme of amalgamation for the merger of the company and GlaxoSmithKline Consumer Healthcare (GSKCH).
RITES: The state-owned company on Wednesday said the government proposes to sell up to 5{bce2ac57dae147ae13b811f47f24d80c66c6ab504b39dda4a9b6e8ac93725942} stake in the company, or 1.25 crore equity shares, through the offer for sale (OFS) route, with floor price set at Rs 298 per share.
CONCOR: CONCOR and Joint Stock Company, Russian Railways Logistics have executed a Memorandum of Understanding for cooperation and collaboration in promoting intermodal transportatfon of cargo over the International North-South Transport
Corridor (INSTC).
February 27, 2020 by Lyod Market
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