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Top 10 stocks to watch: HDFC Bank, YES Bank, Fortis Healthcare, PC Jeweller and others

HDFC Bank shares will be in focus after the lender said it has constituted a six-member search committee to replace Aditya Puri as managing director and chief executive officer of the bank, whose tenure ends on October 26, 2020

twitter-logo BusinessToday.In   New Delhi     Last Updated: November 29, 2019  | 07:17 IST
Top 10 stocks to watch: HDFC Bank, YES Bank, Fortis Healthcare, PC Jeweller and others

Here is a list of top ten stocks that are likely to be in focus in Friday's trading session based on recent and latest news developments.

HDFC Bank Limited: The stock of the private lender will be in focus after the bank said it has constituted a six-member search committee to replace Aditya Puri as managing director and chief executive officer of the bank, whose tenure ends on October 26, 2020.

YES Bank: The stock of the private sector lender will be in focus on the day its board meets to consider various options for raising funds. YES Bank share on Thursday closed 2.64 per cent higher at Rs 70.05 on the BSE and 3.15 per cent higher at Rs 70.40 on Nifty.

Fortis Healthcare: CARE Rating Limited has withdrawn "CARE BBB-/ CARE A3, Credit watch with developing implications" rating in respect of the company's long term bank facilities and short term facilities . "CARE BBB- Credit watch with developing implications" rating has also been withdrawn in respect of its subsidiary (Escorts Heart Institute & Research Centre Limited) for short term bank facilities.

PC Jeweller: CARE Ratings has downgraded PC Jeweller's ratings to the Fixed Deposit Programme of the Company to CARE B (FD) Stable.  The revision in ratings factors in stressed liquidity position and deterioration in the financial flexibility of the company as reflected in instances of overutilisation of its fund based and non-fund based limits in past few months, continuous decline in market capitalization and declining cash and bank balance, according to CARE Ratings.

Edelweiss Financial Services: Edelweiss Housing has announced a strategic agreement with Bank of Baroda for co-lending of home loans to self-employed entrepreneurs and salaried customers. The partnership involves the sharing of risks and rewards between EHFL and Bank of Baroda and aims to create a conducive lending environment for home-loan seekers.

Tata Power: The power generation arm of Tata group is planning to sell a stake in its renewable energy portfolio to global investors to reduce its debt. The company is exploring the option of bringing in global investors through an infrastructure investment trust, commonly called an InvIT, reported Reuters.

Aurobindo Pharma: The drug maker on Thursday said its subsidiary Auro Vaccines LLC has entered into an agreement to acquire certain business assets from Profectus BioSciences Inc USA for an upfront cash consideration of USD 11.29 million (around Rs 80 crore) with potential earn-outs on achieving certain milestones.

Oil and Natural Gas Corporation (ONGC): The state-owned oil and gas company has raised $300 million in overseas borrowing at a coupon rate of 3.375 per cent for meeting its capital expenditure. The 10-year bond will mature in 2029.

Mahindra & Mahindra: The auto major in an exchange filing said that its board has approved the scheme of merger by absorption of Mahindra Vehicle Manufacturers, a wholly owned subsidiary of the Company, with itself.

IL&FS Transportation Networks: The crisis-hit company has said its board has approved incorporation of a new subsidiary that will act as the sponsor of a proposed Infrastructure Investment Trust.

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