Five stocks that made news today: Bhushan Steel, Sun TV and more

The domestic equity markets remained weak tracking global cues. The concerns that US Federal Reserve may increase its interest rates on the back of positive US jobs data added pressure to the domestic market along with international market.  Sustained selling by FIIs and concerns over monsoon also affected the sentiments.
 
On Monday, Nifty opened at 8,124, made an intra-day high and low of 8,131 and 8,030, respectively, and finally closed at 8,044, down around 70 points. The Nifty volatility index, India VIX stood at 18.8850 up around 4.40 per cent.

The BSE Sensex declined 245.40 points to 26,523.09

Vinod Nair, head, fundamental research, Geojit BNP Paribas Financial Services, says, "Market is nearing the important psychological level of 8,000. We understand that confidence is low. FIIs' liquidity is finding alternative emerging markets and also concerned about global risk as seen in the sharp movement in global bond yields. A good start to monsoon and push in government spending will provide support to the market."

Stocks that remain in news are:
 

Bhushan Steel: Bhushan Steel shares jumped over 15 per cent on Monday, extending Friday's gain of 20 per cent, on reports that some of its creditors have approved extending its loan for another 25 years.

The company has about $6 billion in loans.

Shares of the steel maker opened the day at Rs 62.45 and closed at Rs 71.70 - up 18.51 per cent than their previous close. The scrip touched an intra-day high and low of Rs 72.60 and Rs 62.10, respectively.

SpiceJet: Shares of SpiceJet rose around 2.50 per cent on Monday on reports its chairman and main promoter Ajay Singh would invest more money in the airline for fleet expansion.

The stock jumped 2.48 per cent to Rs 18.60 at the Bombay Stock Exchange (BSE).

Sun TV Network: Shares of Sun TV Network declined around 22 per cent on Monday on reports that Home Ministry declined security clearance to 33 channels of Kalanithi Maran-promoted Sun TV Network.

According to reports, charges of systemic corruption, operating an illegal telephone exchange and money laundering are the reasons for declining security clearance to the Sun TV Network.

Sun TV Network shares closed at Rs 278.90, down 21.73 per cent against its previous close. The share price of the company opened at Rs 320.75 and touched a low of Rs 258.

Tata Power: Share price of Tata Power jumped 1.13 per cent on Monday on reports the company has introduced natural ester filled 33 /11kV, 20 MVA power transformers in Mumbai distribution to increase transformation capacity with reduced footprint. This step has been taken as the company is committed towards ensuring safety and sustainability for its stakeholders, environment and the community.

Share price of the company closed at Rs 71.40 on Monday.

Nestle India: Food Standards Safety Authority of India (FSSAI) on June 5, 2015 ordered recall of all variants of Nestle's Maggi noodles from the market. As a result, the share price of the company plunged 7.63 per cent to Rs 5,539.80 on Monday.