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MRF will roll out its financial performance for the year ended September 2014 on Thursday. The board will also consider recommendation of final divided, if any. The stock has been gaining on the bourses on the back of weak rubber price. The MRF shares gained 135 per cent last fiscal (Oct-Sept). This perked up the interest in the stock as analysts expect a robust numbers from the company. Last fiscal, MRF posted a profit of ₹802 crore.
Greenply demerger takes effect today
Shares of Greenply Industries will remain in focus, as the company fixed Thursday as record date for the proposed demerger. The company proposes to demerge its decorative business (comprising laminates and allied products) into Greenlam Industries. Those who are buying the shares of Greenply from Wednesday will not be eligible to receive the shares of the demerged entity (Greenlam). The swap ratio has been fixed as 1:1
Banks stocks may remain in focus
Shares of public sector banks may attract buying interest as Reserve Bank of India Governor Raghuram Rajan said the Government is considering giving banks more flexibility when restructuring distressed loans. The move is to help cash-strapped projects to get funding from lenders. The Indian banking sector has been facing severe difficulties on account of deteriorating asset quality and urging the central bank to relax bad loan norms.
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