It is been a global rout seen in equities with the concerns over coronavirus infection taking the shape of pandemic and if it does stock markets across the world will see further steep correction. Here are some of the major stocks to look out for on February 27:
1. Vodafone Idea:
The telecom major which has been hit immensely post the apex court's ruling on February 14, 2020 to service the payment to the tune of Rs. 50000 crore in AGR dues has so far only paid Rs. 3500 crore to the government. And now, it seeks help from the government to provide some relief to the ailing sector by reducing spectrum usage charges as well as license fee and at the same time set a floor price in respect of mobile services.
Also it seeks adjustment of Rs. 8000 crore in GST refund towards AGR dues, penalty payment and interest thereon in a staggered way.
Further it seeks, 15 years to clear off the dues.
So, basis the help rendered by the government, the stock is likely to show up. On Wednesday, the stock closed higher by 1.27% at Rs. 4 on the NSE.
2. JSW Steel:
Outlook for the company has been changed to negative from stable by Fitch. Also, there is a news that former Bhushan Power MD challenges JSW Steel in the court. Along side in the domestic market, steel prices have been increased for the sixth time in a row against the assumption of the metal being seeing a decline in price amid coronavirus outbreak. Now, much is to be seen how the stock performs given all the developments around it.
3. India Cements:
The stock with a stake purchase by GopiKishan Damani flew by as much as 37% in two days time. The rise in stock price is significant given the decline the counter witnessed for over a year. Also, the quarterly results for the company were weak in contrast to the previous year figure.
4. Interglobe Aviation:
On Wednesday, the airline company clarified that all of the queries by the SEBI on RPT or related party transactions were answered to and they were entered into seeking best interests of the company. Also, the company said strong processes for ensuring arm's length dealings with related parties. On Wednesday, the stock ended higher by 1.49% on the BSE at Rs. 1397.25 per share.