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From BHEL, DHFL to Coffee Day, Here are 7 Key Stocks to Watch Out for On August 22

Representative image (Reuters)

Representative image (Reuters)

Despite strong European cues, the BSE Sensex plunged 267.64 points to close at 37,060.37 while the Nifty 50 shed off 98.30 points to close below 11,000 levels, at 10,918.70.

Benchmark indices ended in red for the second consecutive day on Wednesday, August 21 due to broad-based selling. Despite strong European cues, the BSE Sensex plunged 267.64 points to close at 37,060.37 while the Nifty 50 shed off 98.30 points to close below 11,000 levels, at 10,918.70. The stock markets will be keenly watched today, August 22 as we inch closer to the weekend.

Here are 7 stocks to watch out for on Thursday, August 22.

BHEL: India Ratings and Research has affirmed BHEL's long-term issuer rating at 'AA+'. However, the outlook has been revised from 'Stable' to 'Negative'. The rating agency has said that revision was taken due to higher than expected decline in the revenues, leading to EBITDA losses in Q1 FY20.

Coffee Day Enterprises Ltd (CCD): Coffee Day has said news about ITC considering picking stake in the company is factually incorrect and the company is unaware of any such development.

Dewan Housing Finance Corporation Ltd (DHFL): On August 21, the debt-laden housing finance company revealed it has defaulted on payment of non-convertible debentures of Rs 50 lakh on August 20.

Redington (India) Limited: ICICI Prudential Life Insurance has reduced its stakes (2%+) in Redington India. In its disclosure to exchanges, Redington India said ICICI Prudential on August 20. Following the stake sale, ICICI Prudential Life Insurance’s stake in the company reduced to 5.323 percent from 7.369 percent.

Kansai Nerolac Paints (KNPL): Business Transfer Agreement has been entered into by and between Neroflix Private Limited (incorporated in terms of the joint venture agreement, paid-up equity share capital of which is held by KNPL and Polygel in the ratio of 60:40), Polygel, Promoters of Polygel and KNPL.

Hindustan Petroleum: HPCL is planning to invest around Rs 74,000 crore over the next five years to expand capacity, with around Rs 14,900 crore planned in the current fiscal, according to Chairman Mukesh Kumar Surana. The company has undertaken capacity extensions at Visakhapatnam and Mumbai refineries. It also plans to build second-generation ethanol production facilities and market compressed biogas.

NRB Bearings Ltd: Acacia Conservation Fund LP has acquired 676,000 equity shares of the company in a bulk deal in NSE on August 21 at Rs 90 per share.