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Stocks in news: YES Bank, Axis Bank, Federal Bank, RIL and more

Stocks to watch today on March 24: YES Bank, Axis Bank, Federal Bank, RIL among others are the top stocks to watch out for in Tuesday's trading session

twitter-logo BusinessToday.In        Last Updated: March 24, 2020  | 07:59 IST
Stocks in news: YES Bank, Axis Bank, Federal Bank, RIL and more
Stocks to watch today on March 24

Stocks in the news today: Here is a list of top stocks that are likely to be in focus in Tuesday's trading session based on the latest developments.

YES Bank: The lender announced that its board meet is scheduled on 26 March, to consider and approve a proposal for raising funds by issue of equity shares/depository receipts / convertible bonds/debentures/warrants / any other equity-linked securities, through permissible modes including but not limited to a qualified institutions placement, rights issue, further public offer, etc., subject to such approvals, as may be required under applicable laws.

Axis Bank: The lender announced that it has set aside Rs 100 crore to support customers, employees, vendors, government agencies and the community at large towards curbing the spread of coronavirus The bank has further decided to waive off charges for the savings account, current account and prepaid card customers towards online, IMPS and ATM financial and non-financial transactions, for the period 23 March - 31 March 20.

Federal Bank: The lender announced that business hours for its branches are being revised for the period from 23 March to 27 March 2020 in the wake of Covid-19 outbreak.

Reliance Industries: The conglomerate announced that it has initiated a multi-pronged prevention, mitigation, and ongoing support strategy that is comprehensive, sustainable, and resilient. RIL has deployed the combined strengths of Reliance Foundation, Reliance Retail, Jio, Reliance Life Sciences, Reliance Industries, and all the 6,00,000 members of the Reliance Family on this action plan against COVID-19, the filing further said.

ITI Ltd: Company directors has considered and approved allotment of 2,81,19,508 equity shares issued at Rs 56.90 to the President of India, against the capital grant of Rs 160 crore received from Government of India.

Polyplex Corporation: Company announced that India Ratings and Research Private Limited's (Ind-Ra) has assigned 'IND A+/Stable" for Long term Loans of Rs 1.50 billion of the company. It has further assigned "IND A+/Stable/lND A1+" for Fund-based working capital limits of Rs 2.07 billion and IND A+/Stable/lND A1+" for Non-Fund-based working capital limits of Rs 0.48 billion of the company.

Bajaj Electricals: The company has announced the successful completion of its Rights Issue of Equity Shares, which opened for subscription on February 18, 2020 and closed on March 3, 2020. Pursuant the Rs 349.94 crore Rights Issue, the company has allotted 11,287,956 equity shares on rights basis for Rs 310 per share on March 13, 2020.

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