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Stocks in news: Metro Brands, Zee Entertainment, Axis Bank, ITC and more

Stocks in news: Metro Brands, Zee Entertainment, Axis Bank, ITC and more

Stocks in news: Metro Brands, Zee Entertainment, YES Bank, ITC, Axis Bank, Visagar Polytex, India Cements,IRB Infrastructure Developers, CreditAccess Grameen, Manappuram Finance and more

Stocks in news: Metro Brands, Zee Entertainment, YES Bank, ITC, Axis Bank, Visagar Polytex, India Cements,IRB Infrastructure Developers,  CreditAccess Grameen, Manappuram Finance and more Stocks in news: Metro Brands, Zee Entertainment, YES Bank, ITC, Axis Bank, Visagar Polytex, India Cements,IRB Infrastructure Developers, CreditAccess Grameen, Manappuram Finance and more

The Indian market is likely to open higher today as SGX Nifty rose 49 points to 16,863. Benchmark indices rebounded on Tuesday after a two-day selloff, tracking gains in index majors Reliance Industries, ICICI Bank and HDFC Bank amid a positive trend in other Asian markets.

Sensex closed 497 points higher at 56,319 and Nifty advanced 156.65 points to 16,770.

HCL Tech was the top gainer in the Sensex pack, rising around 4 per cent, followed by Wipro, Tata Steel, Titan, Tech Mahindra and Sun Pharma.

Here's a look at stocks that are likely to remain in news today.

Zee Entertainment: The company' s board has approved the merger with Sony Pictures Networks India (SPNI) after a 90-day period to conduct due diligence for the process. Earlier in November, Zee MD and CEO Punit Goenka had said that the proposed merger "is in the final stages."

Metro Brands: The Rakesh Jhunjhunwala-backed footwear retailer will make its market debut today. The company raised Rs 1,367.51 crore through the IPO and sold its shares in the range of Rs 485-500 apiece.

YES Bank: The private sector lender on Tuesday said that its board has approved raising of funds for an amount up to Rs 10,000 crore.  Pursuant to this the bank will be seeking the approval from its shareholders which in effect would result into seeking an extension on the current shareholder approval which is set to expire on February 28, 2022.

ITC: The multi-business conglomerate has raised its stake to 27.34 per cent in Delectable Technologies, a firm that operates the Azgo app and vending machines selling snacks and other fast-moving consumer goods.

Axis Bank: Private sector lender Axis Bank has emerged as the highest bidder to buy Citi's consumer banking business, according to sources. American banking major Citibank in April announced its plan to exit from the consumer banking business in India as part of a global strategy.

Indian Oil Corporation: The state-owned oil player said it has bought a nearly 5 per cent stake in Indian Gas Exchange Ltd - the country's first automated national level exchange for the trading of natural gas.

JSW Energy: The firm's wholly owned subsidiary, JSW Energy (Barmer) Ltd, has completed buy back of 100 crore equity shares for Rs 1,000 crore. It has completed the buyback of 100,00,00,000 equity shares of Rs 10 each at par aggregating to Rs 1000,00,00,000 (Rupees One Thousand Crore only), a regulatory filing said.

Manappuram Finance: The NBFC plans to raise up to Rs 500 crore by issuing bonds. A meeting of the company's Financial Resources and Management Committee of the Board of Directors will be held on December 24 to consider the plan to raise capital.

CreditAccess Grameen: The microfinance lender will make additional investment of up to Rs 250 crore into subsidiary MMFL. The company's shareholders in July 2021 had cleared investment in Madura Micro Finance Limited (MMFL), its material subsidiary.

IRB Infrastructure Developers: The company's subsidiary Chittoor Thachur Highway has executed Concession Agreement with National Highways Authority of India.

Tilaknagar Industries: The liquor maker has raised Rs 126 crore through preferential allotment of equity shares and convertible warrants to Lotus Family Trust and two promoter entities.

Visagar Polytex: The company on December 24 will consider the proposal for raising funds via equity shares to the existing shareholders through a rights issue.

India Cements: Ace investor Radhakishan S Damani and others bought 2.03 per cent stake in the company via open market transaction, raising stake to 22.76 percent from 20.73 per cent.