Stocks in Focus on February 10: Yes Bank, IB Housing to Maruti Suzuki; here are the 5 Newsmakers of the Day
Yes Bank, Indiabulls Housing Finance, Cipla, Maruti Suzuki, LIC Housing are expected to remain newsmakers throughout the intraday trade session today
Key benchmark indices corrected on Friday, February 7, 2020, following four sessions of broad gains. But certain stocks came in news after the market was closed and can impact the indices when it reopens in the morning on Monday, February 10, 2020. Here is the list of five stocks:
Yes Bank: The shareholders of YES Bank on Friday gave the go-ahead to the private sector lender for its capital raising plans. The private lender can increase its authorised share capital to Rs1,100 crore from Rs800 crore. At the Extraordinary General Meeting, the cash-starved private lender also received shareholders' nod to raise up to Rs10,000 crore via issuance of equity shares or other convertible securities. Yes Bank had called for an EGM on February 7, 2020, to increase the authorised share capital and consequently alter the capital clause of the memorandum of association.
Indiabulls Housing Finance Ltd: Rating agency CRISIL on February 07, 2020, revised the long-term rating of Indiabulls Housing Finance Limited to 'CRISIL AA' from 'CRISIL AA+' citing continued challenges on funding access diversity faced by the firm. It also revised the outlook on the long-term ratings to ‘Stable’ from ‘Negative’. The short-term rating has been reaffirmed at 'CRISIL A1+'.
Cipla: Drug firm Cipla on Saturday said it has acquired four brands from Wanbury Ltd to strengthen its presence in the women's health segment. The four brands are CPink, CDense, Productiv and Folinine to further strengthen its presence in the women's health segment.
Maruti Suzuki: The largest carmaker on February 7, 2020, reported official production figures for January 2020. The carmaker said its total production declined by 2.2 per cent from 1.83 lakh units to 1.79 lakh units on the Year-on-Year (YoY) basis.
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Real Estate Sector in Focus + PEL/LIC Housing: The Reserve Bank of India (RBI) has announced rules to provide relief to delayed commercial and residential real estate projects. In its release, the bank said, "If these projects are not completed on the documented due date, banks are allowed a one year grace period before they have to downgrade the asset classification for such borrowers."
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