The board of directors of Yes Bank will meet on Friday to consider fund raising through issue of fresh equity. (Reuters)
The board of directors of Yes Bank will meet on Friday to consider fund raising through issue of fresh equity. (Reuters)

Stocks to watch: Yes Bank, Zee, Jet Airways, Tata Motors

  • SBI Cards and Payment Services Ltd on Wednesday, filed the draft red herring prospectus for an initial public offering (IPO)
  • The Committee of Creditors (CoC) of Jet Airways (India) Ltd on Wednesday extended the date for the submission of resolution plan for the airline to 16 December

Here’s a list of top stocks that may be in news on Thursday:

Yes Bank: The board of directors of Yes Bank will meet on Friday to consider fund raising through issue of fresh equity. The bank had earlier announced that it had received a binding offer from a global investor for an investment of $ 1.2 billion. Also, Yes Bank has offloaded over 17 lakh shares of Reliance Capital for 2.8 crore, its third consecutive sell off in the financial services firm.

ZEEL: Two former directors on the board of Zee Entertainment Enterprises Ltd (ZEEL), resigned over the last few days.. Subodh Kumar, a non-independent director on the board, had resigned on 23 November while Neharika Vora, an independent director, resigned on 25 November citing management decisions.

Telecom stocks: With large telecom operators planning a rate hike in coming days, Trai is unlikely to make an immediate intervention on tariff issues, including fixation of any floor price as of now, says a PTI report. As operators have already announced that they will increase tariffs, Trai will wait to see how the entire situation unfolds.

Jet Airways: The Committee of Creditors (CoC) of Jet Airways (India) Ltd on Wednesday extended the date for the submission of resolution plan for the airline to 16 December. Jet Airways was grounded on 18 April due to an acute fund crunch. A consortium of 26 bankers, led by the State Bank of India, had approached the tribunal to recover dues of over 8,500 crore.

Tata Motors: The company is working on a voluntary retirement scheme (VRS) as India’s largest vehicle maker bears the brunt of a prolonged slowdown in the domestic market, says a Mint report. Tata’s woes have been compounded by stringent emission norms that are set to kick in from April as well as possessing one of the largest workforce in the industry.

State Bank of India: SBI Cards and Payment Services Ltd, the credit card subsidiary of India’s largest lender State Bank of India, on Wednesday, filed the draft red herring prospectus for an initial public offering (IPO) that could see the company sell shares worth around 9,600 crore.

Metal stocks: Amid renewed hopes of positive developments between the US and China, President Donald Trump signed a law Wednesday supporting pro-democracy protesters in Hong Kong. Earlier on Tuesday Trump said that the US and China are close to agreement on the first phase of a trade deal. Metal stocks in the last few days surged on the trade pact.

Indian Oil Corp: According to a Bloomberg report, Indian Oil Corporation (IOC) has issued letters of intent for the set-up of six plants to make biodiesel from used cooking oil have been issued after an “encouraging response" to an expression of interest from refiners.

RBL Bank: The board of the bank will meet on 30 November to discuss raising of funds by way of issue of equity shares. The fundraising will be subject to the necessary regulatory approvals.

Videocon Industries: The company, which is facing insolvency proceedings, on Wednesday after market hours, reported a huge loss of 6,760.75 crore for the fiscal ending March 2019 against 5,264.04 crore in the year ago period mainly due to a sharp fall in income.

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