Here is a list of top 10 stocks that may be in focus on Tuesday:
Yes Bank: Ace investor Rakesh Jhunjunwala on Monday bought the bank’s shares worth ₹87 crore, according to data on the stock exchanges. Jhunjunwala bought 12.95 million shares of the private lender at a price of ₹67.1 apiece, the data showed. Separately, the bank is in the process of raising equity capital for which it announced last week that it has received offers worth $3 billion from potential investors.
Motherson Sumi: Credit ratings firm Moody's Investors Service on Monday downgraded the rating outlook of auto component maker Motherson Sumi Systems Ltd’s to negative from stable due to slowing global auto sales leading to weak financial performance of the company. However, the agency has retained the company's rating at Baa3.
Bajaj Finance: The company on Monday said it will raise funds through a qualified institutional placement offer for which it has set a floor price of ₹4,019.78 apiece. According to a Mint report, Bajaj Finance Ltd plans to raise up to ₹8,500 crore ($1.2 billion). The company did not disclose the size of the fundraise to the stock exchanges.
Titan: The company will announce its earnings for the September quarter later today. Edelweiss Financial Securities in a report said it expects the second quarter to be 'soft' with an year-on-year growth of about 6.9%. Separately, Rakesh Jhunjhunwala sold 49 lakh shares of the watch and jewellery retailer in July-September.
IOB: The public-sector bank reported its September quarter earnings on Monday after market hours. The bank’s asset quality improved in the quarter but it posted a widening net loss of ₹2,253.6 crore on account of rise in operating expenses as well as provisions. It had posted a net loss of ₹487.26 crore in the same period last year.
Cadila Healthcare: The pharmaceutical company received a fresh warning letter for its formulation plant at Moraiya in Gujarat from the US Food and Drug Administration after the regulator observed over a dozen adverse violations during an inspection earlier this year. The observations were later classified as official action indicated.
Zee Entertainment: Shares of the Zee Entertainment slumped nearly 5% on Monday on news reports that the promoters are in a dialogue with prospective investors to sell their stake. However, the company denied any speculation around the promoters transferring their shares to escrow accounts, the media firm said in an exchange filing.
DHFL: The housing finance company’s chairman and managing director Kapil Wadhawan was on Monday questioned by the Enforcement Directorate in relation to the Iqbal Mirchi money laundering and illegal funding case. Shares of the company have been under pressure due to financial stress and mounting debt, which lenders are trying to restructure through a resolution plan.
M&M: The auto company on Monday said it will recall a limited batch of XUV300 vehicles to fix a faulty suspension component. The proactive inspection and replacement of the component would be carried on a limited batch of compact SUV that were manufactured till 19 May, 2019.
NBFC Stocks: Reserve Bank of India on Monday asked fund-starved non-banking financial companies (NBFCs) to adopt better risk monitoring tools that capture the strains early on and to maintain a liquidity buffer as per the mandated liquidity coverage ratio. The regulator also wants these shadow banks to monitor their risks based on a stock approach to liquidity.