Indian stocks managed to trade in the positive territory on Wednesday, i.e. December 11, after witnessing strong selling pressure in the previous session. At 11:29 am, the benchmark S&P BSE Sensex was up 74.44 points, or 0.18%, at 40,314.32, while the Nifty 50 rose 18.80 points, or 0.16%, to 11,875.60. Yes Bank, Piramal Enterprises, Bharti Airtel and Vodafone Idea were among the key stocks in news today.
Read on to know more:
Yes Bank: Yes Bank Ltd shares slumped by another 10% after the board said it was favourably considering Citax Holdings’ $500 million offer, but the final decision on the same will be taken in the next board meeting.
Piramal Enterprises: Piramal Enterprises Ltd shares gained 2.2% after the Competition Commission of India approved the subscription of compulsorily convertible debentures of the company by Canadian pension fund CDPQ.
Bharti Airtel, Dish TV: Bharti Airtel Ltd shares inched down 0.7%, while those of Dish TV India Ltd advanced 8% after a media report said that Bharti Airtel, promoters of Dish TV and PE firm Warburg Pincus have agreed to merge DTH operations of Airtel and Dish TV after months of negotiation.
Vodafone Idea: Vodafone Idea Ltd shares surged 8.4% on news that the company is in talks to sell its optic fibre business to Brookfield Asset Management and its data centre to the Edelweiss Group in order to raise over $2.5 billion.
Bharti Infratel: Bharti Infratel Ltd shares rose 3.3% after the company declared interim dividend of Rs 2.75 per share for 2019-20.
IDBI Bank: IDBI Bank Ltd shares jumped 2.5% after the board approved the selling of up to 49% stake in subsidiaries IDBI Capital and IDBI Intech.
CG Power: CG Power and Industrial Solutions Ltd shares dropped 4.7% after the central government ordered an investigation by the Serious Fraud Investigation Office (SFIO) into the affairs of the company and its 15 related/ group companies.