Stocks in Focus on March 16: SBI Cards, Yes Bank to Indiabulls Housing Finance; here are the 5 Newsmakers of the Day
SBI Card, ONGC, Antony Waste Handling Cell, Yes Bank and ICICI Bank are expected to remain newsmakers throughout the intraday trade session today
The domestic stock market ended with robust gains on Friday, March 13, 2020, as value-buying emerged after the benchmark indices hit lower circuit limit in opening deals. The S&P BSE Sensex, surged 1,325.34 points or 4.04% at 34,103.48. The Nifty 50 index spurted 365.05 points or 4.52% at 9,955.20. But certain stocks came in news after the market was closed and can impact the indices when it reopens on Monday, March 16, 2020. List of such five stocks:
SBI Cards and Payments (SBI Card): The listing of Shares of SBI Card is scheduled to debut on the bourses today, March 16. The initial public offering (IPO) was open for subscription from March 2-5. The SBI Card IPO received an overwhelming response from the capital market with a subscription of over 26 times. The company had fixed a price band of Rs 750-755 per share for the IPO and the company has raised Rs 10,340 crore through the public issue.
ONGC: The Board Of Directors of the company is scheduled to meet today to consider the declaration of Interim Dividend for the FY2019-20 if any.
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Antony Waste Handling Cell: The initial public offer (IPO) of Antony Waste Handling Cell was subscribed 0.49 times till March 13, 2020. The IPO subscription will close today. The price band of the public issue was earlier revised to Rs 294-300 per share compared with the original band of Rs 295-300 a share.
Yes Bank: The private lender has reported Q3FY20 financial results and reported a loss of 18,560.31 crores at the end of the December quarter against a profit of Rs 1001.85 crore a year ago. The gross NPA ratio came at 18.87% versus 7.39% on quarter-on-quarter (QoQ) basis. Its net NPA ratio was at 5.97% against 4.35% of the last quarter. In line with the rise in bad loans, the lender's provisions rose to Rs 24,765.73 crores during the period of review versus Rs 1336.25 crore (QoQ).
Meanwhile, the board of ICICI Bank on March 13 approved an investment of Rs 1,000 crore in Yes Bank via equity route. ICICI Bank will acquire 100 crore equity shares (5% stakes) of Yes Bank at Rs 10 per share, including a premium of Rs 8 per share. Similarly, HDFC Ltd will also invest Rs 1,000 crore in the bank, while Axis Bank and Kotak Mahindra Bank will put Rs 600 crore and Rs 5000 crore in the bank respectively. Federal Bank and Bandhan Bank likely to invest Rs 300 crore each in Yes Bank, while IDFC First bank will invest Rs 250 crore in it. Besides, the government has notified the Yes Bank reconstruction scheme and said the moratorium on the private lender will be lifted at 6 pm on Wednesday (March 18). Investors with 100 or more shares will be subject to a three-year lock-in period for 75% of their investment.
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Indiabulls Housing Finance Limited: The company has issued a clarification on "some rumours" in social media regarding term loans of Yes Bank to Indiabulls Housing Finance and the company as well as its promoters do not have any outstanding term loan from Yes Bank. It said, "The outstanding terms loans from Yes Bank to Indiabulls Housing Finance are Zero." It said, there is no information related to raids at any office of Indiabulls Group. CBI Raids have happened on Yes bank/Rana Kapoor who have their offices in Indiabulls Finance Center complex in the capacity of a tenant.
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