Billionaire Ajay Piramal's Piramal Group has emerged as the preferred bidder for debt-laden mortgage lender DHFL

YES Bank stock is trading higher than 50 and 100-day moving averages but lower than 5 20 200-day moving averages

YES Bank share was trading 2.8 per cent higher despite a bearish session, ranking among the most active banking scrips in terms of volumes on both BSE and NSE today

The stock of private lender opened higher at Rs 18.10 against its previous close of Rs 17.65. The stock gained 2.8% to hit the day's high of Rs 18.15 on BSE

Dewan Housing Finance Corp share rose 4.96% to Rs 27.50 against previous close of Rs 26.20 on BSE

DHFL was the first finance company to be referred to NCLT for insolvency proceedings. Before that, the company's board was superseded and R Subramaniakumar was appointed as the administrator

The stakes are high for billionaire Ajay Piramal, who has bigger financial services ambitions. In the past, Piramal's big strategic moves like Shriram Group stake and merger proposal with IL&FS and IDFC Bank didn't fructify

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The top two highest bidders for Dewan Housing Finance Corporation (DHFL) -- the US-based Oaktree and Ajay Piramal-led Piramal Group -- are now engaged in a war of words publicly

In the whole of FY20, total foreign direct investment (FDI) by domestic companies was $ 13 billion, while FDI inflows had hit a record $ 76 billion, according to the ratings agency

Oaktree Capital and Piramal Capital & Housing Finance have emerged as top bidders in fourth round, trumping Adani Properties that entered via a lateral entry in third round. CoC will likely go with one promising higher upfront cash

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In the past, Piramal's big strategic moves like Shriram Group stake and merger proposal with IL& FS and IDFC Bank didn't reach logical conclusion

All three rival bidders had cried foul over Adani's bid earlier, saying the group had submitted the bid past the deadline and sought disqualification of Adani

US-based private equity major Blackstone Group Inc will pay an upfront amount of  $850 million to take over the management and ownership of Piramal Glass

Private equity and stressed asset funds continue to show interest in acquiring value assets undergoing insolvency proceedings despite delays and litigation

Now, the bidders will have an option to either submit a fresh bid or continue with November 17 bid. Additionally, DHFL's creditors have also given the freedom to bid either for a portion of the loan book or for the entire portfolio

Adani Group said, \"It was pained at some bidders resorting to media to sensationalise issues with an aim to prevent value maximisation for the lenders and depositors\"

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Why are other bidders in the race to acquire DHFL (either its retail business or the combined business) not amused with Adani Group's bid for the housing finance company?