Stocks to Watch: Zee Entertainment, Yes Bank, Bharti Airtel, IndiGo, ICICI Bank2 min read . Updated: 26 Nov 2019, 08:29 AM IST
- Shares of Yes Bank will in focus as the private lender sold over 16 lakh shares of Reliance Capital via open market transaction
- Zee Entertainment shares will be in the limelight as Subhas Chandra stepped down as company chairman
New Delhi: Here is a list of top 10 stocks that may be in focus on Tuesday:
Zee Entertainment: Promoter Subhash Chandra on Monday resigned as Chairman of the Zee Entertainment Enterprises Ltd’s board with immediate effect and will continue as non-executive director. Chandra, who leads cash-strapped Essel Group, has already sold 16.5% stake to financial investors to raise funds and repay the company’s debt. Chandra’s stake in the media conglomerate had come down to 5% after the stake sale.
Bharti Airtel: Ratings agency ICRA Ltd has downgraded the company’s long-term rating from "AA" to "AA-" citing the recognition of higher-than-anticipated provision pertaining to the Supreme Court judgement on dues payable towards license fees on adjusted gross revenues as well as spectrum usage charge in the September quarterly results.
Yes Bank: The private lender sold over 16 lakh shares of Reliance Capital Ltd via open market transaction. According to bulk deal data available with the NSE, the private sector lender sold 16,78,900 shares at an average price of ₹16.26 apiece. This took the total transaction value to ₹2.72 crore.
RCom: Reliance Jio Infocomm Ltd and Bharti Airtel on Monday submitted bids for assets of the debt-laden Reliance Communications Ltd, according to a Mint report. Monday was the last day for submitting the bids, ten days after resolution professional Anish Niranjan Nanavaty had extended the deadline.
SpiceJet: SpiceJet on Monday signed a codeshare agreement with Gulf carrier Emirates. This partnership will allow opening of new routes and destinations for the passengers of the both the airlines.
RBL Bank: The bank is looking to raise up to ₹2,000 crore through a qualified institutional placement offering, according to a Mint report. The bank has appointed ICICI Securities Ltd, IIFL Securities and IDFC Securities as advisers to the transaction.
IndiGo: Directorate General of Civil Aviation on Monday warned InterGlobe Aviation Ltd-owned IndiGo that the airline's efforts to modify older Pratt & Whitney engines installed on Airbus A320Neo aircraft were not satisfactory. This could come as a blow for the budget airline as a significant portion of its fleet could be grounded if the carrier failed to meet a 31 January 2020 deadline.
Thomas Cook: The company, after market hours on Monday, announced completion of its corporate restructuring process. The restructuring process with the realignment of the travel businesses of TCIL and consolidation of the human resource services business into Quess Corp is aimed at simplifying and clarifying structure and holdings, streamlining businesses and resources, ensuring focused management and eliminating cross holdings at Thomas Cook India Ltd.
ICICI Bank: Ashok Leyland Ltd on Monday signed a memorandum of understanding with lClCl Bank Ltd to enter into a strategic financing partnership for two years. With this agreement, the private lender will be a preferred financier for providing finance to the customers buying vehicles from the auto company.
CG Power: The corporate affairs ministry on Monday moved NCLT seeking to reopen and restate the financial statements of CG Power & Industrial Solutions Ltd. In August, CG Power had reported a ₹3,000-crore loss due to financial irregularities, following which its Chairman Gautam Thapar and Chief Financial Officer VR Venkatesh were removed from their respective positions for their alleged role in the fraud.