Prominent Stocks

Indian markets ended their weekly session in red. The BSE sensex down by 44.43 points (0.13%) and Nifty lowered by 15.80 points (0.15%).Stock market faces a negative note during the week due to the global trade war.
In this week, the retail stocks may gain profit in market due to the beginning of summer sale. PSU Banks with good profitability attain gain and ICICI bank is a well positioned bank so they maintain its value in green.
Aviation: SpiceJet signed a $12.5 billion deal with Safran group, France to buy LEAP-1B engines for 155 Boeing 737 MAX planes, the biggest order placed by Indian Airline over $22 billion.
Spicejet has been awarded as ‘India’s Best Airline’ at Wings India 2018. They have a successful turnaround of 12 successive quarters and high on time performance. The share value of spicejet may expected to increase in Monday’s market.
Sugar Industry: Renuka sugars, the largest sugar refinery signed a restructuring agreement with its bank.
The founder and MD of Renuka sugars Mr.Murkumbi resigned and the control has taken by Singapore based agriculture commodity company Wilmar International.
Wilmar international increased their stake from 27% to 39% and they planned to convert their preference shares into equity shares at a price of Rs.16.29 which is 5% higher than Friday’s closing price.
The renuka sugars share value may face high volatility and they have possibility of loss in coming days.

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