Here is a list top five stocks that are in news in early trade on Wednesday:
Yes Bank: According to a Mint report, the bank is in talks with three top technology companies, including Microsoft Corp, to execute its plans of raising funds. The private lender, however, declined commenting on the report, clarifying that it is not aware of the news source. Shares, which have been losing value due to concerns around weak financials of the bank, were down more than 8% in trade today.
DHFL: The troubled housing-finance company (HFC) was hit by another setback after Central Depository Services (India) Ltd (CDSL) froze shareholding of the promoters following delay in announcement of the company's financial earnings for the June quarter. The stock was down 10% in early trade today.
Titan: Shares of the company pared early losses, trading down more than 3% revenues as per financials declined 2% on a year-on-year basis mainly due to the adverse impact of the hedges matured during the quarter. A 7% rise in jewellery retail sales in the September quarter failed to cheer investors.
Edelweiss Financial Services: Shares of the company were trading under pressure as credit-ratings agency Crisil Ltd slightly lowered ratings of non-bank lenders owned by financial services group Edelweiss and private-equity firm KKR & Co. Exposure to non-banking financial companies, most of which have been facing severe liquidity crunch, dragged down the stock of Edelweiss by 7%.
HDIL: The Economic Offenders Wing (EOW) of Mumbai Police may expand its probe into the ₹4,355 crore Punjab and Maharashtra Co-operative (PMC) Bank Ltd fraud to include auditors of the bankrupt Housing Development and Infrastructure Ltd (HDIL), the centre of the scam. In a separate development, promoter of HDIL Rakesh Wadhawan was found to be connected to an alleged cheating case involving real estate firm Rudra Buildwell. The stock was down 5% in early trade today.