Stocks in Focus on May 19, 2020

Equity benchmark Sensex plunged over 1,000 points at closing on Monday dragged by losses in banking stocks.

The BSE Sensex tanked 1068.75 points or 3.44 percent to 30,028.98. On the other hand, the NSE Nifty declined 303.75 points or 3.32 percent to 8,833.10.

Here are the Stocks in Focus on May 19, 2020

Bharti Airtel

Bharti Airtel on Monday posted a consolidated loss of Rs 5,237 crore for the January-March quarter of 2019-20 fiscal mainly on account of provisions for statutory dues.

The company had posted a profit of Rs 107.2 crore in the same period a year ago.

Vedanta

Vedanta Ltd on Monday said its board has approved the proposed de-listing of mining baron Anil Agarwal’s flagship Indian unit from the BSE and the National Stock Exchange.

Tata Consumer Products Ltd

Tata Consumer Products Ltd (TCPL)on Monday said it will acquire the stake of PeopsiCo in their joint venture Nourish Co Beverages.

The size of the deal was not disclosed by the company.

The move is an effort by the Tata Group firm to widen its portfolio in the growing food and beverages space, TCPL said in a statement.

NourishCo, a 50:50 joint venture of TCPL and PepsiCo, operates in the healthy hydration space and has brands like Himalayan mineral water, Tata Gluco Plus and Tata Water Plus.