Stocks In News Today

The global sell-off has triggered a sharp decline on the Indian indices as well with the Sensex breaching 38600 and Nifty holds on to 11300. During the session, investors lose as much as Rs. 4 trillion by a loss of over 1000 points on the Sensex.

Tata Power:

The stock of Tata Power is down by as much as 15% and the company plans to reduce its debt by Rs. 6000 crore by FY21. For the purpose, the company is looking at monetizing various assets that are not being mobilized by the company worth Rs. 1000 crore. Assets in South Africa and Zambia have already been monetized.

The problem has yet again erupted due to coronavirus outbreak as the country is dependent on solar modules to be supplied from China and Taiwan.

The stock trades lower by 6.38% at Rs. 46.20.

HDFC Bank:

The heavyweight stock also dragged by as much as 2.4%to Rs. 1170.10 per share. There has been reported that the private sector bank would complete the appointment of Aditya Puri's successor by May. Also, in joint partnership with Indigo and Mastercard, the bank has come up with a credit card.

The index heavyweight's managing director Aditya Puri told television channel CNBC-TV18 that the bank will complete the selection process of his successor by May. Separately, India's largest airline IndiGo launched a co-branded credit card Ka-Ching with HDFC Bank and MasterCard.

Shriram City Union Finance:

The stock despite across the counter sell off trades higher by 1.13% at Rs. 1414.55 per share.

NLC India:

The Navratna company stock despite the huge weakness is trading in the green for second consecutive day. The company on Thursday declared an interim dividend of Rs 7.06 per equity share for the Financial Year 2019-20.

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