STOCKS ON RADAR:
HCL Tech: On Thursday HCL announced it will acquire select IBM software products for $1.8 billion. The transaction is expected to close by mid-2019, subject to completion of applicable regulatory reviews.
PFC, REC: The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved sale 52.63 percent government’s stake in REC to Power Finance Corporation (PFC) for an estimated Rs 150 billion.
HPCL: The state-run Indian oil refiner Hindustan Petroleum Corp (HPCL) will buy Iranian crude in January after a gap of six months, with the nation?s overall purchases from Tehran at 9 million barrels in the month, said a Reuters report.
Coal India: The government has sold 2.21 per cent stake in the state-owned coal miner to the CPSE ETF which is managed by Reliance Nippon Life Asset Management.
Jet Airways: As per news reports, Etihad Airways of Abu Dhabi has offered to guarantee loans worth $150 million that Jet Airways needs to keep the airline operational. In addition, the struggling airline told its pilot union on Thursday it will clear all salary dues by April and has given them a schedule outlining when the payments will be made, Reuters reported citing sources.
Vedanta Ltd: The Vedanta-owned Company?s unit Sterlite Copper in Tamil Nadu was closed in May this year following a government order. The National Green Tribunal (NGT) will hear today arguments from the Tamil Nadu Government, the state pollution board and Vedanta-owned Sterlite Copper on the findings of a 3-member commission mandated to examine the environmental impact of the Sterlite Copper factory and the manner of closure of the plant in May this year.
Disclaimer: The Stocks mentioned are not an advice to buy or sell. It is only for information purpose. The information is collected from various published sources. You are advised to consult your financial advisors before any decision to be taken on the stocks. In no case Wealth Discovery Securities or Ezwealth will be responsible or cannot be liable for any loss on your action taken on the stocks.