Stocks in Focus on August 1: Essel Group, Unichem Lab to GMR Infra; Here are 5 Newsmakers of the Day

GMR Infrastructure Ltd: Board of Directors of the company is scheduled to meet on August 5, 2019, inter alia, to consider and approve proposal to raise funds up to Rs2,500 crore through issue of equity shares or equity-linked instruments, debentures or any other securities. 

Stocks in Focus on August 1: Essel Group, Unichem Lab to GMR Infra; Here are 5 Newsmakers of the Day

Snapping losses of the past two trading sessions, the domestic equity market ended with decent gains on Wednesday, July 31, 2019. However, certain stocks came in news after the markets were closed for the trading purposes and can have an impact on the indices after it is opens for trading purposes on Thursday, August 1, 2019. Here is a list of five such stocks:

Essel Group: Essel Group, a multi-faceted business conglomerate, will be in focus today as Invesco Oppenheimer Developing markets Fund will buy 11 per cent stake in Zee Entertainment Enterprises Limited (ZEEL) for a total consideration of up to Rs4,224 crore. The proceeds from the stake sale will go towards paying off promoter debt. The company has a target to repay its debt by the end of September 2019.  

Unichem Laboratories: The United States Food and Drug Administration (USFDA) has issued 4 observations to company's Goa formulation unit but there were no repeat observations. The inspection that was carried out between July 22-31, 2019.  

IOC/BPCL /HPCL: Stocks of these petroleum refining companies will remain in focus today because the Indian Oil Corporation (IOC) on Wednesday slashed non-subsidised cooking gas (liquified petroleum gas) price by Rs 62.50 per cylinder on softening international rates. The company in a statement said that the non-subsidised or market priced LPG will now cost Rs 574.50 with effect from midnight on Thursday. 

GMR Infrastructure Ltd: Board of Directors of the company is scheduled to meet on August 5, 2019, inter alia, to consider and approve proposal to raise funds up to Rs2,500 crore through issue of equity shares or equity-linked instruments, debentures or any other securities. 

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Bharat Electronics Limited: The government has sold about 7 crore shares of the company via off-market transactions for CPSE issue.  With this government stakes in the company has decreased to 55.93 per cent from 58.89 per cent. 

Written By: Jitesh Kumar Jha
Edited By: Arun Kumar Chaubey
Updated: Thu, Aug 01, 2019
07:50 AM IST
Mumbai, ZeeBiz WebDesk
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