Stocks in the news today: Here is a list of top stocks that are likely to be in focus in Friday's trading session based on latest developments. Investors are advised to trade cautiously in the bear market. Coronavirus outbreak has caused mayhem on Dalal Street, with Nifty and Sensex plunging over 32% since the beginning of this year.
Yesterday, Sensex, Nifty & Nifty Bank ended at over 3-year lows, with 30-share index closing at 28,288 and Nifty ending at 8,263. The Indian currency crossed the 75 mark against the U.S. dollar for the first time ever and closed at 74.99 per dollar.
Moreover, market regulator SEBI on Thursday gave relaxation of 45 days to companies for filing fourth-quarter financial results and one-month extension to file results for 2019-20.
India reported 4th coronavirus death, with infected cases rising to 197. Globally, there are 225,647 confirmed cases and 9,278 deaths from the coronavirus COVID-19 outbreak as of March 19, 2020. In positive cues, China, where the virus originated has reported zero coronavirus infections as of yesterday.
In recent steps to counter coronavirus, Indian Railways and airlines have planned to cancel concessional travel. The government said that it would not allow any commercial passenger aircraft to land in India beginning March 22 for a week. PM Narendra Modi also announced measures pertaining to combat the virus outbreak yesterday at 8 pm.
SpiceJet: The airline has announced temporary suspension of majority of its international operations from 21st March till 30th April 2020. "We will resume the suspended flights as soon as the situation normalises," the filing added.
YES Bank: The lender announced that rating the firm has assigned 'CRISIL A2' rating to Rs 2,000 crore worth certificate of deposit programme of YES Bank Limited (Yes Bank).
Praj Industries: Company board plans to consider buy-back on Mar 27, 2020.
Sobha Ltd: The company board has approved the issue of Non Convertible Debentures up to Rs 270 crore.
Goa Carbon: The company announced that it has resumed operations at Paradeep Unit from March 18, 2020. After preliminary heat up and commencement of feeding of raw material, normal production is likely to resume from 20th March 2020.
Alankit Ltd: The board has considered and approved making an investment by way of acquiring 100% stake in Alankit Imaginations Limited ('Group Company') by buying 14,00,000 equity shares of face value of Rs 10 each at a price of Rs 47.30 including a premium of Rs 37.30 per share making it wholly owned subsidiary totalling investment of Rs 6.62 crore, subject to necessary approvals, if any. As per the filing, the board has further approved acquiring up to 26,00,000 additional equity shares face value of Rs 10 each at a price of Rs 47.30/- including a premium of Rs 37.30/- per share via subscribing to proposed Private Placement offer totalling an investment of Rs 12.30 crore. The Board approved making an investment in 100% equity of Alankit Insurance Brokers Limited by buying 10,00,000 equity shares of the face value of Rs 10 each making it wholly owned subsidiary of the company.