Stocks to watch out for on Thursday
Here are the stocks to watch out for on Thursday:
Larsen & Toubro: The company plans to divest its entire stake in L&T Cutting Tools for Rs 174 crore, reported a leading business daily. The sale is part of L&T’s larger strategy to focus on core business segments.
Tata group stocks: The board of Tata Sons under N Chandrasekaran has ordered its group companies to scrap all business dealings with Cyrus and Shapoor Mistry’s SP Group, putting at risk transactions worth hundreds of crore of rupees.
GMR Infra: The GMR Group, which owns a 220 MW gas based power plant in Andhra Pradesh’s Kakinada, will sell its barge-mounted power plant to a buyer for USD 63 million. The infrastructure major said that GMR Energy (GEL) will enter into a definitive agreement with the buyer soon.
Infibeam Incorporation: Prem Watsa’s Fairfax Financial Holdings is in advance negotiations with Infibeam Incorporation, India’s only listed ecommerce company, to pick up a minority 10-12% stake for around Rs 1,200-1,500 crore, reported a leading business daily.
Infosys: Infosys board will consider a proposal to buy back equity shares on August 19. The company had said it would pay shareholders up to USD 2 billion through dividends and share buybacks in FY18.