Yes Bank, RBL Bank, Biocon and United Spirits Among Key Stocks in Focus Today
Yes Bank Ltd shares dropped 4.5% after the lender filed a petition before NCLT Allahabad to initiate the corporate insolvency resolution process against Jaypee Healthcare Ltd, a subsidiary of Jaypee Infratech Ltd.
Image for representation. (Photo Reuters)
Indian stocks witnessed some selling pressure on Tuesday on negative global cues. At 10:50 am, the benchmark S&P BSE Sensex was down 96.37 points, or 0.24%, to 40,705.80, while the Nifty 50 index fell 38.75 points, or 0.32%, to 12,009.45. Yes Bank, RBL Bank, Biocon and United Spirits were among the key stocks in news today. Read on to know more:
Yes Bank: Yes Bank Ltd shares dropped 4.5% after the lender filed a petition before NCLT Allahabad to initiate the corporate insolvency resolution process against Jaypee Healthcare Ltd, a subsidiary of Jaypee Infratech Ltd.
RBL Bank: RBL Bank Ltd shares dropped 2.1% after the lender launched its qualified institutional placement (QIP) issue for subscription on December 2. The bank’s capital-raising committee approved the floor price at Rs 352.57 per share, 5.5% down from Monday’s closing price.
Biocon: Biocon Ltd shares jumped 4.6% after the company and its partner Mylan announced the much-awaited launch of Ogivri - a biosimilar to Herceptin - in the US.
United Spirits: United Spirits Ltd shares inched down 0.7% after the Diageo-controlled liquor firm proposed a merger with its majority owned and listed subsidiary Pioneer Distilleries Ltd.
IFCI: IFCI Ltd shares surged over 9% after the company received bids for sale of its entire stake in the National Stock Exchange of India (NSE).
M&M Financial Services: Mahindra and Mahindra Financial Services Ltd shares rose 1.3% after World Bank Group arm IFC said it has anchored an investment round of $200 million (about Rs 1,433 crore) in the company to create a dedicated pool of financing for MSMEs in low-income states.
Crompton Consumer: Crompton Greaves Consumer Electricals Ltd shares fell 1.9% after a media report said that the promoter is looking to sell 7.2-8.8% via a block deal.
Bank of Baroda: Bank of Baroda shares declined 2.7% after the lender said it will consider raising capital funds through the issue of capital debt instruments on December 5.
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