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RIL, JSW Energy, Vodafone Idea, JSW Steel Among Key Stocks in Focus Today

Image for representation.

Image for representation.

Vodafone Idea Ltd shares plunged 16% after CARE Ratings downgraded its rating of the company’s non-convertible debentures (NCDs) and long-term bank facilities.

  • Last Updated: February 18, 2020, 10:43 AM IST
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Indian stocks took a hit on Tuesday as Asian markets declined after Apple Inc. said quarterly sales would miss forecasts due to the impact of coronavirus. At 10:10 am, the benchmark BSE Sensex was trading down 255.24 points, or 0.62%, at 40,800.45, while the Nifty 50 index fell 77.15 points, or 0.64%, to 11,968.65. RIL, JSW Energy, Vodafone Idea, JSW Steel, DMart, Tata Motors and HCL Technologies were among the key stocks in focus today. Read on to know more:

RIL: Reliance Industries Ltd (RIL) shares lost 1.1% after the company announced a consolidation of its media and distribution businesses spread across multiple entities into Network 18. Shares of its group entities, Hathway Cable and Datacom Ltd and TV18 Broadcast Ltd, advanced 20%.

JSW Energy: JSW Energy Ltd shares climbed over 8% after the company signed a share purchase agreement with GMR Energy to acquire its subsidiary GMR Kamalanga Energy for Rs 5,321 crore.

Vodafone Idea: Vodafone Idea Ltd shares plunged 16% after CARE Ratings downgraded its rating of the company’s non-convertible debentures (NCDs) and long-term bank facilities.

JSW Steel: JSW Steel Ltd shares fell 1% after the company said it has emerged as preferred bidder for three iron ore mines in Odisha with estimated reserves of 1,092 million tonnes.

DMart: Shares of Avenue Supermarts Ltd rose nearly 1% after a media report said the company has taken about 50,000 sq ft of space in east Delhi area for its first DMart outlet in the national capital.

Tata Motors: Tata Motors Ltd shares fell 2.4% after the company said it was planning to raise Rs 500 crore through the issue of securities for which a committee of its board will meet on 24 February.

HCL Tech: HCL Technologies Ltd shares shed 1.2% even as the company announced a new large contract with New Zealand dairy co-operative Fonterra to modernise and manage the entire technology infrastructure Fonterra employees around the world use every day.

Grasim: Grasim Industries Ltd shares inched up 0.5% after the board approved raising Rs 500 crore via NCDs on a private placement basis.

HAL: Hindustan Aeronautics Ltd shares dropped 2.3% after the company raised Rs 1,000 crore through commercial papers.

Disclaimer: News18.com is part of Network18 Media & Investment Limited which is owned by Reliance Industries Limited that also owns Reliance Jio.

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