Stocks in Focus on August 2: Eicher Motors, Bajaj Electricals to Adani Transmission; Here are 5 Newsmakers of the Day

Indian equity markets ended steeply lower on Thursday, August 1, 2019, tracking losses in broader Asia and comments from U.S. Federal Reserve Chairman Jerome Powell. 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 opens for trading purposes on Friday, August 2, 2019. Here is a list of five such stocks:

Eicher Motors: The company has reported a 22% fall in its monthly sales for July month, which stood at 54,185 units against 69,093 units. 

Hero MotoCorp: The company has reported a sales fall of 21.2% in July. It sold 5.35 lakh units of two-wheeler in the month against 6.79 lakh units in the same month of the corresponding year.  

Bajaj Electricals: Rating Agency, CARE Ratings, has downgraded the credit rating of commercial paper worth Rs500 crore from A1+ to A1. The action was taken in the backdrop of moderation in liquidity profile that is marked by a large accumulation of receivables under the engineering procurement commissioning division.

PSP Projects Limited: The company in its filing to equity market informed that it has been awarded new work orders worth Rs86.20 crore for various institutional projects. Work orders also include Rs77.35 crore project from Maruti Suzuki Foundation for designing engineering, procurement and construction of 100-bed Hospital Project in Ahmedabad, Gujarat. With the receipt of above, the total work orders received during the financial year 2019-20 (till date) on standalone basis amounts to Rs848.85 crores.

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Adani Transmission: The company has received two Letter of Intent (LoI) for the Centre Sector Transmission Project linked to the Renewable sector in Rajasthan and Gujarat. On a combined basis the company will have to Build, Own, Operate and Maintain (BOOM model) the transmission projects for 35 years.