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TCS, Bharati Infratel to Adani Enterprises Are Key Stock Market Newsmakers Today

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As we know that due to rupee fluctuation and other global parameters, domestic indices such as SENSEX and NIFTY made a negative closing yesterday (September 5, 2018). Fall in prices of commodities led by rising crude oil prices also hit investor sentiments. However, there were certain stocks that made news after the market was closed for trading on the day and can have an impact on it today, September 6, 2018, during the trading hours. Here is the list of five stocks:

Tata Consultancy Services (TCS): The company’s Rs 16,000 crore buyback programme will begin today and close on September 21, 2018.  The total number of shares to be bought back will be around 7.61 crores, less than 2 percent of the total number of shares. The shares will be bought back at Rs 2,100 a share through the tender offer route.

Bharti Infratel: Bharti Infratel and Indus Towers Limited have received exit notices subsequent to the completion of Vodafone-Idea merger and their scheme becoming effective from August 31, 2018. At present, it owns 42 percent equity. This would result in the exit of 27,447 co-locations for the company on a consolidated basis and may hit revenue by around 600-650 million rupees ($17.42 million) per month from September 1, 2018.

Adani Enterprises: Ex-date for demerger and with this, Adani Gas Ltd. will be spun off and listed separately on NSE and BSE. In this demerger process, shareholders will get 1 share of Adani Gas for every share of Adani Enterprises.

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