Stocks in news: YES Bank, Tata Power, Cadila, Lupin, PNB, Union Bank and more
BusinessToday.In March 5, 2020
Stocks in the news today: Here is a list of top stocks that are likely to be in focus in Friday's trading session based on latest developments.
YES Bank: JP Morgan has given 'Under weight' rating YES Bank share and cut its target price to Re 1 as the reserahc firm believes that lender's net worth will be largely impaired post the bailout from SBI. Prior to this, JP Morgan has given a target price of Rs 55. Futher, Macquarie Capital Securities has also passed a similar rating to the private lender and said that State Bank of India and other PSU banks need not pay more than Re 1 for the lender's share as the its net worth is zero and there is lack of clarity on the bank's deposit franchise due to the solvency issues.
Cadila Healthcare: Zydus Cadila today announced that the Drug Controller General of India (DCGI) has approved its New Drug Application (NDA) for Saroglitazar for the treatment of Non-Cirrhotic Non-Alcoholic SteatoHepatitis (NASH) in India. With this, it has become the world's first drug manufacturer to announce a treatment of Non-Cirrhotic NASH.
Sandur Manganese & Iron Ores: The company board has approved an interim dividend of Rs 5.
Tata Power: Jaguar Land Rover India has partnered with Tata Power for end-to-end charging solutions for its range of electrified vehicles to be launched in India.
Union Bank: The lender has approved the share exchange ratio for a merger with Andhra Bank & Corporation Bank. Share swap ratio, as per the filing stands at 325 shares of Union Bank for every 1,000 shares of Andhra Bank & 330 shares of Union Bank for every 1,000 shares of Corporation Bank.
Punjab National Bank: The lender board has approved the share exchange ratio for the merger with OBC & United Bank. As per the filing, the board has approved exchange of 1,150 shares Of PNB for every 1,000 shares of OBC. Further PNB board has also approved an exchange of 121 shares of the bank 1,000 shares of United Bank.
JSW Energy: Company informed the exchanges BSE and NSE that promoters of the firm have created pledge on 1.25 crore shares (0.75% Eq) of JSW Energy from Feb 27 to Mar 3, 2020.Lupin: The pharma major has launched the authorized generic for Horizon Therapeutics PLC's Vimovo in the US market, which is used for the treatment of arthritis & gastric ulcers.