Hela February 15, 2019

Top 5 stocks in focus on October 10: GRSE, NLC India to NALCO, here are the 5 newsmakers of the day

The domestic stocks market continued to oscillate in a narrow trading zone and closed in the  red on October 9, 2018. But there were certain stocks like Muthoot Capital, NBFCs to NALCO, that came in news on the day and can have an impact on the market on October 10, 2018. Here is the list of five stocks:

Garden Reach Shipbuilders & Engineers (GRSE): The company is slated to get listed on the bourses, the BSE and the NSE, on Wednesday. Earlier, the initial public offer (IPO) of the company was subscribed 1.02 times.

NALCO: The company’s board of directors will meet on October 12, 2018, to consider the proposal on share buyback.

State Bank of India (SBI)/non-banking finance companies (NBFCs): SBI has offered to bail out the liquidity-starved NBFCs with a proposal to buy good quality assets worth Rs 45,000 crore from NBFCs. NBFCs have been hit by a series of debt repayment defaults by crisis-ridden IL&FS and its subsidiaries.

Muthoot Capital Services Ltd.: The company will remain in focus because SEBI has approved its draft red herring prospectus (DRHP) to list Muthoot Microfin, a microfinance company, on the stock exchanges. The company is eyeing January or February for its initial public offering.

NLC India: Board of the company has approved the buyback proposal of 14.19 lakh shares at Rs 88 per share, aggregating to Rs 1,249 crore. The proposed buyback is 9.28 per cent of the company’s equity paid-up share capital.