The stock markets started the budget week on a strong note, aided by positive momentum in Asian stocks. At 11:25am, the benchmark S&P BSE Sensex was up 286.41 points, or 0.73%, to 39,681.05, while the Nifty 50 index rose 78.10, or 0.66%, to 11,866.95. Eveready Industries, Jet Airways, Reliance Home Finance, DHFL were among the key stocks in focus on Monday. Read on to know more:
Eveready Industries: Eveready Industries shares lost 5% after it said that Price Waterhouse & Co Chartered Accountants LLP (PWC) has expressed its inability to continue as the auditors of the company.
Jet Airways: Jet Airways (India) Ltd shares were locked in 5% upper circuit on news that the Hinduja-Etihad consortium is gearing up to bid for the company under the NCLT process.
DHFL: Dewan Housing Finance Corp. Ltd shares jumped 4% ahead of the meeting of the company’s lenders on Monday. Lenders are seeking a resolution plan for the Rs 90,000 crore debt due on the firm.
Reliance Infrastructure: Reliance Infrastructure Ltd shares tumbled 12% after rating agency Brickwork downgraded the company’s bank loan facilities of Rs 1,151 crore to ‘BWR D’ from ‘BWR C’.
Reliance Home Finance: Reliance Home Finance Ltd shares dropped over 7% after Reliance Nippon Life Asset Management Co. granted the company additional time to fulfill its principal payment obligations. Reliance Home Finance was only able to make the interest payment on Friday
Godrej Properties: Godrej Properties Ltd shares climbed 6.3% after the company approved its QIP issue. The company will allot 22.6 million equity shares to eligible qualified institutional buyers at the issue price of Rs 928 per share.
Shriram Transport Finance: Shriram Transport Finance Co. Ltd shares fell 2% despite CARE assigning AA+ rating with stable outlook to company’s proposed non-convertible debentures (NCDs) of Rs 10,000 crore.
Kalpataru Power: Kalpataru Power Transmission Ltd shares gained 5.6% after the company said it has secured new orders worth Rs 975 crore.
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