Stocks in Focus on March 19: Banks, Ashok Leyland to NLC India; here are the 5 Newsmakers of the Day

Amid concerns over rising coronavirus cases, the domestic stock market crashed on Wednesday, March 18, 2020. The sentiments were further deteriorated after the Supreme Court took a tough stance on the adjusted gross revenue (AGR) dues of telecom operators and S&P lowered India's growth forecast to 5.2% in 2020. The Sensex at the Bombay Stock Exchange crashed 1,710 points, or 5.6%, to end below the 29,000 level at 28,870. The Nifty at the National Stock Exchange tanked 498 points, or 4.8%, and closed below 8,500-mark at 8,469. But certain stocks came in news after the market was closed and can impact the indices when it reopens on Thursday, March 19, 2020. 

List of such five stocks: 

Banks in Focus: To maintain stability in the financial system in the wake of coronavirus outbreak, RBI on Wednesday announced OMO purchase of government of India dated securities. It said that it will open market operations on March 20, 2020, in the form of a purchase of an aggregate amount of Rs 10,000 crore of government securities. It will offer to buy four sets of sovereign papers maturing between February 2022 and May 2025.

Motilal Oswal: the Board of Directors of the Company is scheduled on March 21, 2020, to consider and if deemed fit, to approve the proposal for Buy-Back of the Equity Shares of the Company as well as matters related/incidental thereto.

Ashok Leyland: The commercial vehicle major Ashok Leyland (ALL) on Wednesday said that the board of directors of the company has approved the proposal to acquire up to 19% additional equity shares in Hinduja Leyland Finance (HLFL), a subsidiary company, for a consideration not exceeding Rs 1,200 crore. 

NLC India: The Company’s board on Wednesday approved the issuance of Commercial Paper (CP) up to Rs 6,000 crore in tranches inclusive of already a proved issuance of the commercial paper limit of Rs 2000 crore. It also approved the issuance of bonds in form of Debentures up to Rs 5,000 crore in tranches.

Cera Sanitaryware/Tata communication/Tata Chemicals/Tata Investment/ADF Foods: Fund action was seen in these companies.

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Details of fund action:

• Cera Sanitaryware: Nalanda Equity Fund acquired 1.86 lakh shares at Rs 2308.47 per share
• Tata communication: Tata Sons executive chairman N Chandrasekaran has purchased 1 lakh equity shares of Tata Communications from the secondary market, at an average price of Rs 249.15 per share as on March 16, 2020.
• Tata Chemicals: Mr N. Chandrasekaran has purchased 1 lakh equity shares of Tata Chemicals at Rs 258.8 per share. 
• Tata Investment: Mr N. Chandrasekaran bought 10000 shares at Rs 698.36 per share.
• ADF Foods: JM Financial has sold 3.85% stakes of ADF Foods and reduced it to 2.83%.