Stocks in the news today: Here is a list of top stocks that are likely to be in focus in Wednesday's trading session based on the latest developments.
Inox Leisure: Company has decided to temporarily close all of its cinema halls/ multiplexes across India till further notice. The duration of this shutdown will depend upon further directions from Government authorities and the evolving situation.
Sterlite Technologies: Company board has approved the buyback of fully paid-up equity shares of the face value of Rs 2 each of the company (equity shares) at a price not exceeding Rs. 150.
Jindal Saw Limited: The company will scale down its office operations at Delhi and scale down production facilities at Nashik, Nagothane - Maharashtra, Mundra, Gujarat, Indore - Madhya Pradesh and Bhilwara, Rajasthan with immediate effect till further notice. The duration of this scale down will depend on the Government regulation and the ground reality.
Gayatri Projects: The company said as a part of the resolution process, the lending consortium has signed an Inter-Creditor Agreement (ICA) effective March 21, 2020, under 'The Reserve Bank of India. The ICA will facilitate a smoother resolution process under the leadership of Bank of Baroda. It will also protect the company from any coercive action, therefore ensuring smooth conduct of business, the filing added.
Majesco India: Company said its balance sheet as of 31 December 2019 continues to reflect a debt-free company. The company is generating cash sufficient to fund its operations ending with the total cash, cash equal and short-term investment of Rs.359 crores as of 31st December 2019 compared to Rs.391 crores as of 30th September 2019. The cash balance provides significant flexibility to invest in growth-producing opportunities, the filing added.
Arman Financial: The company announced that its wholly-owned subsidiary "Namra Finance Ltd" has raised Rs 66.3 crores of debt capital from MUDRA, and the IIV Mikrofinanzfonds, Germany (external commercial borrowing).
Mawana Sugars: The company is constraint to close caustic soda/chlorine facility (operating as Siel Chemical Complex, a unit of Mawana Sugars Limited) with immediate effect. The movement of all incoming goods from chloro caustic manufacturing facility located at Rajpura, Punjab and movement of workers has virtually ceased, the filing added.
Godawari Power & Ispat: Company said that all its manufacturing and other operations have been closed temporarily as a precautionary measure to prevent spread of the Coronavirus.
Vakrangee: Company announced that more than 10,000 Vakrangee Kendras are operational to provide the key essential services and thus serving the nation.