Stocks in Focus on September 17: CCD, Kaveri Seed to Ajanta Pharma; here are 5 Newsmakers of the Day

Domestic stock markets on Monday, September 16, 2019, logged losses of more than 0.65 per cent amid negative global cues. The Sensex declined 0.70% to close at 37,123.31 and Nifty 50 lost 0.65% to settle at 11,003.50. However, certain stocks came in news after the market was closed for trading and can have an impact on the indices when it reopens on Tuesday, September 17, 2019. Here is a list of five such stocks:

Lakshmi Vilas Bank (LVB)/Indiabulls Housing Finance (IHF): RBI has tightened its security on the management of the two companies, LVB and IHF, following fresh acquisitions of wrongdoing and sudden exit of LVB’s CEO, media reports. The central bank has also stopped the two companies from exchanging information and barred management interaction pending approval. The two companies have plans to merge.

Coffee Day Enterprises Ltd: The Blackstone Group, along with South-based developer Salarpuria Sattva, has signed a definitive agreement to buy the 90-acre, IT-focused Global Village Tech Park, owned by a subsidiary of Coffee Day for Rs 2,770 crore. The deal is being done through a special purpose vehicle where Blackstone will own 80% and the remaining 20% will be held by Salarpuria.

MMTC/STC/PEC: The Department of Commerce is likely to approach the Union Cabinet with the proposal to shut down state-owned three trading firms namely Metals & Minerals Trading Corporation of India (MMTC), State Trading Corporation (STC) and Project & Equipment Corporation of India (PEC).

Kaveri Seed: Board of Directors of the company is scheduled to meet on September 24, 2019, to consider and approve the proposal of Buyback of Equity Shares of the company.

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Ajanta Pharma: Promoter on September 12, 2019, released pledge of 10 lakh shares.