Friday 1 June 2018

Stock Market Corner



Stock Corner


1.                   Tata Motors Limited (TML) signed a Memorandum of Understanding (MoU) with the State Government of Maharashtra for deployment of 1,000 Electric Vehicles (EV) across its range of passenger and commercial vehicles in the State.



2.                   HDFC Bank gained almost four percent during the morning trade as investors made big bets ahead of the FII buying window being opened on June 1. The SEBI decided to open the window for institutional trading series (6 lakh series) just for a day on June 1, 2018. In fact, the regulator has decided to scrap the mechanism from July 1 onwards. This has led to an increase in demand for the stock.
3.                   Tata Consultancy Services share price fell nearly 2 percent after the stock adjusted for bonus share issue. The board of directors of the company, on April 19, had recommended bonus issue of equity shares in the ratio of one equity share of Re 1 each for every one equity share of Re 1 each held by the shareholders of the company as on the record date. TCS has fixed record date as June 2 for determining the entitlement of members to receive bonus shares.
4.                   Bank of Baroda looks to sell NPAs worth Rs2,954.28cr and has invited expression of interest by June 15.
5.                   Manpasand Beverages hit 20% lower circuit limit for the second straight day on account of the resignation of its auditing firm with effect from May 26, 2018.
6.                   Vedanta ordered by Tamil Nadu government to seal and permanently close the copper smelter plant at Tuticorin.
7.                   Dalmia Bharat Sugar to sell its wholly-owned subsidiaries' Dalmia Solar Power and Dalmia Sugar Ventures to the promoters.

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