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Stocks in the news: YES Bank, Titan Company, Biocon, Future Retail and UCO Bank

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NEW DELHI: Nifty futures on the Singapore Exchange traded 28 points, or 0.23 per cent, lower at 12,220.50, indicating a negative start for Dalal Street.

Here are a few stocks which may buzz the most in today’s trade: YES Bank, Indiabulls Housing: AMFI on Friday reclassified Adani Transmission, Info Edge, Kansai Nerolac Paints, Muthoot Finance and REC as largecap stocks.

On the other hand, Cadila Healthcare, Indiabulls Housing Finance, New India Assurance, Vodafone Idea and YES Bank were moved to the midcap list. Titan Company: The company said sales across consumer segments were hurt due to protests against the new citizenship law that forced store closures in December. Biocon: Homegrown private equity fund True North has acquired about 3 per cent of Biocon Biologics India for $100 million, valuing the unlisted arm of Biocon at $3-3.5 billion (Rs 25,000 crore). UCO Bank: The bank is on track to come out of RBI's Prompt Corrective Action (PCA) framework in the current fiscal, a top offical of the lender has said.

The bank is hopeful of bringing down the net NPA below 6 per cent in 2019-20 from 7.34 per cent as on Sepetmber 2019, Managing Director and CEO A K Goel said. Adani Ports: The Gautam Adani-led company will buy a 75% stake in KPCL at an enterprise value of Rs 13,572 crore after prolonged talks to obtain the all-weather port in Andhra Pradesh.

The all-cash deal will be funded through internal accruals and existing cash balance, the company said in a release. Vedanta: The company said it proposes to raise up to Rs 2,000 crore via issuance of non-convertible debentures (NCDs). Tata Group stocks: Cyrus Mistry said he is not interested in getting back to the Tata Group in any capacity at all, ahead of the Supreme Court's hearing on an urgent petition seeking to set aside the NCLAT order reinstalling him as the group chairman and also in the board of group companies.

“I will not be pursuing the executive chairmanship of Tata Sons or directorship of TCS, Tata Teleservices, Tata Industries,” he said.

Reliance Home Finance: Debt investors of Reliance Home Finance (RHFL), a unit of Reliance Capital, are planning legal action that may include a request for initiating recovery proceedings in the National Company Law Tribunal against the stressed financier, which defaulted on bond repayments due earlier this month. IRB Infrastructure Developers: The company said it has received a no objection certificate from the NHAI for transfer of nine BOT (build-operate-transfer) assets to IRB Infrastructure Trust and subsequent investment by GIC affiliates for 49 per cent stake in the Trust. NLC India: The company announced its plans to raise up to Rs 2,000 crore through commercial paper. Future Retail: The company which runs the Big Bazaar chain is seeking to raise up to $500 million in its maiden overseas bond issue after two informal sale attempts last year M-M: The auto maker retained its third spot in the Indian passenger vehicles market in the first nine months of 2019-20, and increased its lead over fourth-placed Tata Motors.




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