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Top stocks to watch: YES Bank, Vodafone Idea, Bharti Airtel, Mahindra & Mahindra, Bank of Baroda and others

BusinessToday.In     December 5, 2019

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

YES Bank: Moody's Investors Service has downgraded Yes Bank Limited's long-term foreign-currency issuer rating to B2 from Ba3. It has also cut the lender's long-term foreign and local currency bank deposit ratings to B2 from Ba3. The downgrade takes into account Moody's expectation that the bank's pool of potential stressed assets and low loss-absorbing buffers against those assets - will add pressure to its funding and liquidity, creating additional risks to its standalone credit profile or BCA. 

Vodafone Idea Limited: Brickwork Ratings has downgraded telecom major's rating on Non-Convertible Debentures. The filing added, "The downgrade is on an account of the considerable impact of the AGR related liability on the financial performance of the company resulting in huge losses, erosion of net worth and deterioration in the overall risk profile of the company."

Mahindra & Mahindra: The automaker announced that it has today acquired 36.63% of the equity the share capital of Meru in the first tranche of investment, and also the right to appoint a majority of the Directors on the Board of Meru. The company has signed a Share Subscription Agreement for subscribing up to 55% of the equity share capital of Meru Travel Solutions Private Limited, in tranches.

Bank of Baroda: The public sector the bank said that the lender board has approved raising up to Rs 1,850 cr in tier-I bonds, with a base issue size of Rs 500 crore and a Green Shoe Option to retain oversubscription up to Rs 1,350 crore.

Bharti Airtel: Rating firm S&P Global has maintained company on credit watch negative, citing that Rs 34,300 crore AGR setback will decisively weaken the telecom major's leverage.

Birla Corporation, Prakash Industries, Vedanta Limited: The Coal Ministry has released a list of approved coal mines. The successful bidders shall have the flexibility to sell 25% of the coal produced in the open market. Of the five coal mines, two have been allotted to Birla Corporation, one to Prakash Industries and one to Vedanta Limited. Ministry will be releasing another list soon.

Greaves Cotton: The company on Thursday announced the completion of its acquisition of the entire shareholding of Hemalatha Annamalai in Ampere Vehicles Pvt Ltd via a secondary purchase.

Reliance Power: Anil Ambani-led firm has said that India Ratings & Research has revised the long-term rating on instruments of its wholly owned subsidiary, Rosa Power Supply Company, to 'IND B/Stable' from 'IND BB/ Negative'.

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