Stocks

What to Watch: NSE restriction to impact 86 stocks

| Updated on June 10, 2014 Published on June 10, 2014

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Companies including Essar Oil, Provogue (India), Lanco Industries, GVK Power & Infrastructure, Gujarat NRE Coke, IL&FS Engineering and Construction , IVRCL, Pipavav Defence and Network18 Media & Investments will come under pressure following the NSE shifting these stocks into the restricted trade category from Friday. This means delivery of shares is compulsory. As a part of surveillance measures, 86 stocks have been shifted to the trade-to-trade category, the bourse said.

Cox & Kings: Redeeming of shares bodes well

Shares of Cox & Kings will remain in focus as one of its promoters has been redeeming her shares pledged with a financial institution. According to a disclosure available with the exchanges, Urshila Kerkar redeemed 3.09 per cent of her stake that was pledged with STCI Finance Ltd. At the end March 2014, promoters including Urshila had pledged 50.11 per cent of their holding with financial institutions. Marketmen generally view redeeming of pledged shares positively.

Fundraising to keep Future Retail in focus

The board of directors of Future Retail will meet on Wednesday to consider various options of raising funds, including issue of equity shares or debt or hybrid instruments such as convertible securities/ warrants into equity shares to qualified institutional buyers/ promoters on preferential basis and issue of shares to its shareholders on rights basis. Analysts say raising funds is important for the Kishore Biyani-promoted company due to high debt levels and debt-equity ratio.

Published on June 10, 2014
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