Visa Steel shares surged as much as 20 per cent in early trade after reports that the lenders to Kolkata-based company decided to convert a large portion of their loans into equity using the RBI’s strategic debt restructuring scheme. (Photo: Reuters)
The BSE Sensex and NSE Nifty opened in negative on Wednesday following weak global cues. At 9.24 am, Sensex was down 197.27 points at 25,454.57. Similarly, Nifty was down 76.25 points at 7,735.75 during the same time.
Stocks that are likely to be in focus today:
Bharat Heavy Electricals (BHEL): Crisil on Tuesday revised downwards the rating outlook on the long-term bank facilities of BHEL to ‘negative’ from ‘stable’. The credit rating agency, however, reaffirmed ratings for the long-term and short-term facilities of the power generation equipment maker at AAA and A1+. The outlook revision took into account BHEL’s slow project execution and stretched working capital. Total bank facilities worth Rs 60,000 crore were rated.
Emami: The FMCG company on Tuesday informed the BSE that its wholly-owned subsidiary Emami UK Ltd has been dissolved.
SKS Microfinance: SKS Microfinance has informed BSE that the company has decided to reduce the interest rate charged to its borrowers from 22 per cent to 20.75 per cent on income generating loans to be extended with effect from October 1, 2015.
Amtek Auto: The shares of the auto ancilliary company will be in focus after the company said it is in advanced discussions with various banks and financial institutions for re-alignment of its debt obligations.
Motherson Sumi: The stock of the company remained in pressure amid its biggest client, Volkswagen, admitting to rigging American emissions norms and thereafter halting sales of diesel cars in the US market.
Visa Steel: Shares surged as much as 20 per cent in early trade after reports that the lenders to Kolkata-based company decided to convert a large portion of their loans into equity using the RBI’s strategic debt restructuring scheme.
| Subscribe To Our Free Newsletter |
