Stocks in news: YES Bank, Adani Group, Nazara Tech, LIC, Tech Mahindra and more

Domestic stock indices ended in the red on Friday amid an across-the board selloff. Sensex lost 671.15 points, or 1.12 per cent to 59,135.13 and Nifty tanked 176.70 points, or 1 per cent, to 17,412.90. Midcap and smallcap indices outperformed the larger peers, falling about half a per cent each. Fear gauge India VIX spiked 5 per cent to 13.41-level. 

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

YES Bank  

Shares of YES Bank Ltd will be tracked as the RBI-mandated three-year lock-in period for individual investors and exchange-traded funds is ending today. Nine banks led by SBI, which picked up almost 49% are expected to make an exit. 

Adani Group  

Adani Group said it has completed full prepayment of margin-linked share-backed financing aggregating to $2.15 billion before the committed timeline of March 31. 

Finolex Industries 

The company has started commercial operations of PVC fittings at the manufacturing facility at Pune from 12 March. The annual capacity of the facility is 12,000 MT and the capex towards the same is approximately Rs 100 crore. 

Sona BLW Precision Forgings 

Blackstone will sell its entire stake in the company through a block deal, according to reports. 

Nazara Technologies 

Nazara Technologies Ltd said its step down subsidiaries Kiddopia Inc and Mediawrkz Inc hold cash balances worth Rs 64 crore at Silicon Valley Bank (SVB). 

 Sula Vineyards 

The chief financial officer of Sula Vineyards, Bittu Varghese, has resigned from his position to explore opportunities outside the company. 

Life Insurance Corporation 

LIC has appointed Siddhartha Mohanty as interim Chairman with effect from March 14. The term of Mangalam Ramasubramanian Kumar as Chairperson of LIC of India will be completed on March 13 

Tech Mahindra  

The Board of the IT firm has announced Mohit Joshi as the MD & CEO. Mohit will take over as MD & CEO when CP Gurnani retires on 19 December 2023. 

Paytm 

Paytm has clarified that Silicon Valley Bank, whose operations have been abruptly closed due to financial irregularities, has fully exited the parent company One97 Communication and has no investments as of date. 

Ambuja Cement 

Adani Group has made a formal request to international lenders to sell 4-5% of Ambuja Cement worth $450 million to reduce debt, according to reports.  

Hindustan Aeronautics 

Hindustan Aeronautics has won Rs 667-crore Indian Air Force aircraft order from the ministry of defence. 

IndusInd Bank 

RBI has approved the re-appointment of Sumant Kathpalia as the Managing Director & CEO of the IndusInd Bank Ltd for a further period of 2 years with effect from March 24. 

Also read: TCS, Maruti Suzuki, Airtel: What should be your strategy amid the market volatility

Also read: Adani Enterprises, Adani Power, Adani Green, Ambuja Cements: Adani group shares in focus on debt payments, stake sale report