Stocks in News: Watch out for Paytm, Mahanagar Gas, Aviation stocks today

The Indian markets closed higher for the fifth session in row on Monday, led by banking and financial stocks, The BSE Sensex former rose 936 points to 56,486 and Nifty50 241 points to 16,871, while Nifty Bank gained 766 points to 35,312 and Midcap index up 57 points to 28,268 at the close. 

The market is gaining traction as strategy is shifting from tactical sell to tactical buy, as investments are chipping in as commodities prices are reverting, Vinod Nair, Head of Research at Geojit Financial Services said in a post market comment. 

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He added, “FIIs selling and crude prices are subsiding, which is expected to continue based on diplomatic developments and provide an edge to the Indian market.” 

Stocks such as Paytm, Mahanagar Gas, Aviation stocks, Alliance Integrated Metalliks, Brightcom Group, Rajratan Global Wire, TVS Electronics among others are in focus on Wednesday amid corporate actions and news related to these counters.   

Stocks in News 

Paytm issues a reply on the media report claiming data leak to Chinese firms, says the report is completely false. All the Bank’s data resides within the country, the company has said. 

Aviation Stocks: The Goods and Services Tax (GST) has been reduced to 5 percent from 18 percent on maintenance, repair and overhaul (MRO) services for the aviation industry, the government said. 

Mahanagar Gas: Maharashtra government announces a massive reduction in VAT on CNG to 3 per cent from 13.5 per cent. 

Brightcom Group board to give bonus issue 2:3 as it being ex-date of the same on Tuesday 

Alliance Integrated Metalliks’ shares split from Rs 10 to Rs 1 per share on Tuesday, as it being an ex-date. 

Rajratan Global Wires to also split its share from Rs 10 to Rs 2 per share – ex-date on Tuesday. 

TVS Electronis’ board to give interim dividend of 20 per cent at Rs 2 per share – ex-date on Tuesday.