Stock Corner
1.
Jet Airways
recouped losses but still ended lower by 1.7 percent on Thursday. The airline
was in the news on Wednesday after a Business Standard report said that the
income tax department was probing a land deal between the airline and Godrej
Buildcon land development deal.
2.
Shares of
government-owned telecom operator MTNL (Mahanagar Telephone Nigam) rose 10
percent intraday on Thursday based on a report that informed about Rs
30,600-crore financial aid from Department of Telecommunications (DoT).
3.
Shares of
ITI surged 20% to Rs 112 on the BSE after the company said it has received an
advance work order (AWO) worth of Rs 66.34 billon from BSNL.
4.
NBCC has
seen its market capitalisation erode by nearly half since November 2017 highs,
despite a healthy and growing order book. The key reason for the weak Street
sentiment is that execution has not matched the rising order book, which is
also reflecting in the firm’s flat revenues and earnings growth for fiscal year
2018.
5.
Shares of
select public sector undertaking (PSU) banks were trading higher by up to 11%
on the BSE on the report that the government has asked the Reserve Bank of
India (RBI) to prepare a list of suitable banks for merger.
Missed call
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