Top 5 stocks in focus on September 26: Yes Bank, Bank of India to GRSE, here are the 5 newsmakers of the day

On Tuesday, domestic Indian markets closed in the green, with the BSE Sensex gaining 347.04 points or 0.96 per cent and closed at 36,652.06 while its NSE counterpart Nifty 50 jumped 100.05 points or 0.91 per cent to close at 11,067.45. But there were certain stocks that came in the news after the market was closed on the day and may have its impact on the market on Wednesday, September 26, 2018. Here is the list of five of such stocks: 

Garden Reach Shipbuilders & Engineers (GRSE): The initial public offer (IPO) of GRSE, the mini Ratna (Category-I) PSU, which is under the administrative control of Ministry of Defence, on September 25, 2018, received bids for 9.47 lakh shares, as against 2.92 crore shares on offer.  The issue was subscribed 0.03 times and the issue will close on September 26, 2018. The price band for the issue has been fixed at Rs 115 to Rs 118 per share.

Public Sector Banks (PSBs): PSBs will remain in focus today as the Finance Minister Arun Jaitley during the annual review meeting of PSBs said that the Prompt Corrective Action (PCA) Framework for Banks will be relaxed. In addition, the government has decided to infuse capital in these PSBs. 

Yes Bank: The board of the bank has formed a search and selection committee for finding a successor to its managing director and chief executive officer Rana Kapoor. At the same time, the bank has decided to approach its regulator, RBI, to extend Kapoor’s term till September 2019.

Sugar and Telecom companies: The Union Cabinet during its meet today is likely to consider to announce a package for the cash-starved sugar sector. In addition, the cabinet may take up the draft National Digital Communications Policy (NDCP) 2018 for discussion. 

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Bank of India and Housing Development and Infrastructure Ltd (HDIL): HDIL has worked out an out-of-court settlement with Bank of India over outstanding dues worth Rs 511 crores. It will repay the bank through structured payments and clear all dues by August 2019.