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Stock in focus: Lux Industries, JK Paper, NALCO, L&T Finance Holdings, IDBI Bank and others

BusinessToday.In     December 18, 2019

Stocks in the news: Here is a list of top stocks that are likely to be in focus on Thursday's trading session based on recent and latest news developments.

Tata Group: Tata Group stocks will be in focus today after the National Company Law Appellate Tribunal (NCLAT) on Wednesday asked the group to reinstate former chairman Cyrus Mistry, who was unceremoniously removed by the board of Tata Sons in 2016.

Lux Industries: Lux Industries stock will also be in focus after the firm said commercial paper of Rs 50 crore issued on September 19, 2019, has been fully redeemed and repaid on maturity date on 18 December 2019.

L&T Finance Holdings: Shares of L&T Finance Holdings may see a movement on the development that the firm will issue up to 300,00,000 cumulative compulsorily redeemable non-convertible preference shares of Rs 100 face value with an aim to collect Rs 300 crore on a private placement basis.

South Indian Bank: The lender said that base rate of the bank will decrease from 10.00% to 9.95% and Marginal Cost of Funds Based Lending Rates (MCLR) applicable for multiple tenors will also be revised, effective from December 20, 2019.

NALCO: The company announced that Sridhar Patra has been appointed as Chairman and MD of the listed firm.

IDBI Bank: The lender said that rating firm CRISIL has assigned rating of ''A+/Stable'' for the proposed Tier-II Bonds (under Basel-III) of Rs 2,000 crore. The rating of other existing instruments has been reaffirmed, the filing added.

JK Paper: The company announced that ratings firm India Ratings and Research (Ind-Ra) has affirmed the company's long-term issuer rating at 'IND A+' and kept the rating outlook stable.

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