Stocks in the news: YES Bank, Infosys, Tata Motors, Indiabulls Housing and NMDC

NEW DELHI: Nifty futures on the Singapore Exchange traded 21 points, or 0.17 per cent, lower at 12,234, indicating a negative start for Dalal Street. Here are a few stocks which may buzz the most in today’s trade:

Tata Motors, other Tata Group stocks: Tata Group shares will likely remain under pressure until the controversy over Tata Sons’ chairmanship is resolved, according to analysts. Data showed Tata Motors ADRs closed 2.35 per cent lower at $12.47 in overnight trade.

YES Bank: India Ratings and Research (Ind-Ra) has downgraded YES Bank’s long-term issuer tating to ‘IND A’ from ‘IND A+’ and its short-term issuer rating to ‘IND A1’ from ‘IND A1+’.

Infosys: The global software major said it reached an out-of-court settlement for $800,000 with the California Attorney General on charges related to the alleged violation of B-1 visa rules by it to its techies.

Indiabulls Housing Finance: The NBFC and its directors, including chairman Sameer Gehlaut and chief executive Gagan Banga, have apologised to the Supreme Court and deposited Rs 17 crore for selling pledged shares of erstwhile promoters Malvinder and Shivinder Singh in Fortis Healthcare (FHL).

NMDC: State-owned NMDC said the Indian Bureau of Mines (IBM) has approved its proposal to increase production at Kumaraswamy mines in Karnataka to 10 MTPA.

Hindalco Industries: HSBC has retained buy rating on Hindalco Industries with a target price of ₹260. The management clearly stated its intention not to infuse further capital in Idea, said HSBC. T

Nestle India: The FMCG firm said it is examining the show-cause notice slapped by the National Anti-profiteering Authority (NAA) for not passing on GST benefits to customers and take the next course of action in due course.

Bank of Baroda: Morgan Stanley has an equalweight rating on Bank of Baroda with a target price of Rs 100 after the bank disclosed its divergence details on asset quality and provisioning for FY19.

RCom: Ericsson has said a bankruptcy tribunal can’t adjudicate on pleas by Reliance Communications for a refund of Rs 550 crore from the Swedish telecom equipment maker

ICICI Bank: The RBI has clarified to the Bombay High Court that ICICI Bank had sought its prior permission before sacking its former chief Chanda Kochhar over alleged quid pro quo transactions.

Vodafone, Bharti Airtel: A combination of measures from the telecom regulator such as the year-long deferment of zero-interconnect usage charges (IUC) regime and a potential floor price for voice and data services are veritable lifelines that could potentially improve financial viability and brighten business continuity prospects of India’s older carriers, Vodafone Idea and Bharti Airtel, analysts said.

JSW Steel: Leading stock exchange BSE on Wednesday said as many as five companies, including JSW Steel and Aditya Birla Finance, have made applications to list their commercial papers.

Hero MotoCorp: The Munjal-promoted Hero MotoCorp has emerged as the largest R&D spender among Indian two-wheeler makers, having invested Rs 3,503.2 crore on it over the last five years

Ruchi Soya: Yoga guru Baba Ramdev's Patanjali Ayurved on Wednesday made its first big acquisition when it paid Rs 4,350 crore to take over soya food brand Nutrela-maker Ruchi Soya through an insolvency process. (Stock trading suspended due to procedural reasons)

Board meetings today

Insider Buys:

• Bosch Limited: Robert Bosch Engineering And Business Solutions Private Limited has bought 3,66,900 shares through Inter-se-Transfer on Dec 17, 2019.
• CCL Products (India) Limited: Challa Rajendra Prasad has bought 17,700 shares through Market Purchase from Dec 12, 2019 to Dec 13, 2019.
• CCL Products (India) Limited: Challa Shantha Prasad has bought 17,601 shares through Market Purchase from Dec 12, 2019 to Dec 13, 2019.
• CCL Products (India) Limited: Challa Soumya has bought 17,600 shares through Market Purchase from Dec 12, 2019 to Dec 13, 2019.
• CCL Products (India) Limited: Challa Srishant has bought 17,610 shares through Market Purchase from Dec 12, 2019 to Dec 13, 2019.
• Compucom Software Limited: Compucom Technologies Private Limited has bought 1,29,402 shares through Market Purchase from Nov 25, 2019 to Dec 15, 2019.
• Filatex India Limited: Shefali Bhageria has bought 1,75,000 shares through Market Purchase from Dec 13, 2019 to Dec 16, 2019.
• Filatex India Limited: Stuti Bhageria has bought 50,000 shares through Market Purchase from Dec 13, 2019 to Dec 16, 2019.
• Filatex India Limited: Yaduraj Bhageria has bought 25,000 shares through Market Purchase on Dec 16, 2019.
• Harrisons Malayalam Limited: Vayu Udaan Aircraft Llp has bought 20,358 shares through Market Purchase on Dec 16, 2019.
• IIFL Finance Limited: Ardent Impex Pvt Ltd has bought 41,669 shares through Market Purchase on Dec 17, 2019.
• Panama Petrochem Limited: Nabat Amirali Rayani has bought 56,083 shares through Market Purchase from Dec 16, 2019 to Dec 17, 2019.
• Pritish Nandy Communications Limited: Artinvest India Pvt Ltd has bought 20,727 shares through Market Purchase from Nov 27, 2019 to Dec 16, 2019.
• The United Nilgiri Tea Estates Company Limited: Amalgamations Private Limited has bought 30,000 shares through Off Market on Dec 16, 2019.

Insider Sells:

• Alkem Laboratories Limited: Deepak Kumar Singh has sold 49,900 shares through Market Sale on Dec 16, 2019.
• Axis Bank Limited: Sanjay Silas has sold 25,000 shares through Market Sale on Dec 16, 2019.
• Bosch Limited: Robert Bosch Gmbh has sold 3,66,900 shares through Inter-se-Transfer on Dec 17, 2019.
• Indusind Bank Limited: Romesh Sobti has sold 50,000 shares through Market Sale on Dec 16, 2019.
• ITC Limited: M. Ganesan has sold 25,000 shares through Market Sale on Dec 13, 2019.
• The United Nilgiri Tea Estates Company Limited: Stanes Amalgamated Estates Ltd has sold 30,000 shares through Off Market on Dec 16, 2019.

Note: Disclosure made under Reg 13(4), 13(4a) of SEBI (IT) regulations 1992.

Bulk and Block Deals :
Note: Insider Buy/Sell is as defined by SEBI Insider Trading Regulations, 1992 Bulk Deal is defined as any trade in which quantity transacted is more then 0.5% of the companies equity shares listed on the exchanges. The above mentioned data is not completely Extensive as relatively smaller trades have been excluded. (Edelweiss Alternative Research)