Stocks in the news: YES, Bandhan Bank, Titan
Company, ONGC and Sobha.
Nifty futures on the Singapore Exchange were
trading 107.50 point, or 1 per cent, higher at 10,886, indicating a strong
start for the Nifty50. Here are a few stocks which may buzz the most in today’s
trade:
Bandhan Bank: Bandhan Banks’s talks with HDFC to either buy into or
merge with Gruh Finance, a mortgage-lender for the less affluent, have reached
an advanced stage, although the regulatory response to the proposal would
decide the fate of the transaction, two people familiar with the matter told
ET.
Titan Company: The company said it saw good growth momentum across all its
businesses in the seasonally strong third quarter. It expects the full year
growth in Jewelry business to be around 22 per cent. The division added 27
Tanishq stores and closed 3, for the year to date, with the net retail space
addition being approximately 65,000 sq. ft, the company told exchanges.
ONGC: ONGC Videsh (OVL) has made a significant
discovery of oil in its onshore block CPO-5 in Columbia, the company said in a
statement. OVL, the overseas arm of ONGC, is the operator of the block and
holds 70 per cent interest. State-run oil behemoth ONGC Sunday said it will
pump in Rs 6,000 crore in drilling 200 wells over the next seven years in Assam
in order to increase the output from the state. Sobha: The company during the third quarter has achieved new sales
volume of 908,824 square feet total valued at Rs 698.80 crore with an average
realisation of Rs 7,669 per square feet. Sales volume rose 11 per cent YoY for
the first nine months. YES Bank: Rajesh Sud, former MD and CEO of Max Life Insurance, and
current Yes Bank executive director Rajat Monga are in the race to head the
private sector lender, as the incumbent CEO Rana Kapoor steps down on January
31 following a central bank advisory, said two people in the know of the
development. ICICI Bank: ICICI Bank and ICICI Venture Funds Management have pulled out
of the race to buy the securities and private equity business of IL&FS due
to likely conflict of interest as the bank’s chairman GC Chaturvedi is also on
the debt-laden company’s new board Godrej Agrovet, UPL: Two global private equity funds KKR & Co and
Blackstone Group and two local companies, Godrej Agrovet and TPG Capital-backed
United Phosphorus Ltd, have put in independent bids to buy a controlling 57.7
per cent in Gharda Chemicals. Reliance Communications
(RCom): The company has accused Ericsson of “distorting issues”
by attempting to sensationalise its contempt petition against Anil Ambani,
which will hurt attempts to repay other lenders. Birla Corp: Birla Corporation, the flagship company of the M P
Birla Group, has entered the construction chemicals and wall putty segments as
additives, the company said Friday.
Good news intraday -Trading
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