Shares of the auto component maker will be in focus as according to reports it has understood to have delayed repayments to its bondholders and bankers. The shares declined over 8 per cent in early trade today. (Photo: Reuters)
The BSE Sensex and NSE Nifty was trading in positive terrain on Tuesday morning tracking firm global cues. At 9.20 am, Sensex was up 129.49 points at 26,322.47. Similarly, Nifty was up 35.65 points at 8,012.75 during the same time.
Below are stocks that are likely to be in focus today
Amtek Auto: The share price of the auto ancilliary company declined over 8 per cent on Tuesday in the early trade on media reports that it had missed payments on the Rs 800 crore worth of bonds that matured on Monday.
Motherson Sumi: Shares of the auto component company will be in focus after its biggest client, Volkswagen, admitted to rigging American emissions norms and thereafter halting sales of diesel cars in the US market with immediate effect. Motherson’s shares ended at Rs 262.15 on the BSE each, down Rs 21.70 or 7.64% from the previous close on Monday. Volkswagen accounts for 44 per cent of Motherson Sumi’s consolidated revenue, Bloomberg data showed. The shares are down over 5 per cent in early trade.
MMTC: State-owned MMTC on Monday said the company will sell its 10 per cent stake in the commodity
bourse ICEX equally among two bidders, who participated in the global tender.
United Bank of India: United Bank of India on Monday said it will issue Basel-III compliant non-convertible bonds to raise up to Rs 200 crore.
Bharti Airtel: Telecom major Bharti Airtel has moved all its pre-paid subscribers across the country to pay-per-second, ensuring customers pay only for the time they use the network.
Tata Motors: Tata Motors plans to launch a new small commercial vehicle (SCV) ‘Magic Mantra’ in the country next month, thereby expanding product range under its popular public transport vehicle ‘Tata Magic’.
Infosys: IT major Infosys has bagged a Rs 1,320-crore contract to build GST Network system, which will be used for the roll out of proposed Goods and Services Tax in the country. The shares gained 1.65 per cent in early trade today.
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