PSU OMCs, aviation stocks in focus after crude oil prices drop

Shares of public sector oil marketing companies (PSU OMCs) and shares of aviation firms will be in focus as crude oil prices dropped yesterday, 30 December 2015. In the global commodities markets, Brent crude oil futures edged higher after a sharp decline overnight. Brent for February settlement was up 25 cents at $36.71 a barrel. The contract had fallen $1.33 a barrel or 3.52% to settle at $36.46 a barrel during the previous trading session.

The National Stock Exchange (NSE) will introduce Jet Airways India, Godrej Consumer Products, Container Corporation of India and Torrent Pharmaceuticals in the future and option segment from Friday, 1 January 2016.

Usha Martin announced after market hours yesterday, 30 December 2015, that it was noticed that someone uploaded a post conveying that Usha Martin is calling a board meeting on 9 January 2016 to consider conversion of debt to equity shares. The company clarified that no such notice has been given by the company. There is no such proposal for conversion of loan into equity is under consideration, nor the company is under Strategic Debt Restructuring (SDR) scheme.

Monnet Ispat & Energy announced after market hours yesterday, 30 December 2015, that a meeting of allotment committee is proposed to be held on 31 December 2015 to consider conversion of loan into equity shares pursuant to invocation of Strategic Debt Restructuring (SDR) scheme by Joint Lenders Forum. The board will also consider conversion of loan into equity shares in terms of decision of Joint Lenders Forum as a part of Corrective Action plan.

GIC Housing Finance announced after market hours yesterday, 30 December 2015, that it will acquire up to 16% stake in LIC Nomura Mutual Fund Asset Management Company for Rs 22.68 crore.

State Bank of Travancore announced after market hours yesterday, 30 December 2015, that the Executive Committee of the Board of Directors of the bank approved raising upto Rs 1250 crore by issuing Basel III compliant Tier II Bonds.

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