Stocks in Focus on May 22: DHFL, IDFC First Bank to Asian Granito; here are the 5 newsmakers of the day

The domestic stock markets ebbed the exit-poll related euphoria on Tuesday, May 21, 2019, and ended down by almost 1 per cent. But there were certain stocks that came in news after the market was closed on the day and can impact the indices after it reopens for trading on Wednesday, May 22, 2019. Here is a list of five such stocks:

Dewan Housing Finance Corporation (DHFL): One of the largest housing finance company of India, DHFL, on Tuesday announced that it has stopped accepting fresh public deposits and renewals of existing deposits with immediate effect. It also halted pre-mature withdrawals of existing deposits to help reorganise its liability management. The halt was implemented in view of the recent revision of the credit rating of its fixed deposit programme. 

IDFC First Bank: The domestic rating agency ICRA on Tuesday downgraded the long-term ratings of IDFC First Bank after the lender posted weak results. The agency has downgraded the private sector lender’s non-convertible debentures (NCDs) worth over Rs38,000 crore to AA stable from AA+ stable.

FDC Limited: The Board of Directors of the company is scheduled to meet on May 24, 2019, at Mumbai to consider the proposal for buyback of fully paid up equity shares of the Company through tender Offer route. The Board of Directors shall also consider and approve the Audited Financial Results of the Company for the Quarter and Financial year ended March 31, 2019.

Alkali metal Ltd: The company has received an Establishment Inspection Report (EIR) from the United States Food and Drug Administration (US FDA) for its Visakhapatnam Unit in Andhra Pradesh. The Visakhapatnam unit manufactures Active Pharmaceutical Ingredients (APIs) and other Chemical

Intermediates. The EIR indicates closure of the inspection and the unit is in an acceptable state of Compliance of Current Good Manufacturing Practice (CGMP).  Asian Granito India: The company on May 21, 2019, has passed a circular resolution for disinvestment in Joint Venture (JV) AGL Panaria Private Ltd.  Italy-based Panaria Group Ceramiche and Asian Granito India Ltd entered into a Joint Venture in the Year 2012.