Stocks to watch: YES Bank, Paytm, Vedanta, SBI, Axis Bank, Tata Motors

Stocks to watch today: Private equity majors Carlyle Group and Advent picked 9.99 per cent stake in YES Bank; Paytm approved buyback of shares worth Rs 850 crore

Stocks to watch today: Domestic markets are likely to open higher on Wednesday after a soft US inflation data jolted global stocks. At 7:35 am, the SGX Nifty quoted at 18,608 levels, up 187 points from spot Nifty’s close on Tuesday.
 

Globally, the US inflation slowed sharply to 7.1 per cent in November, boosting stocks in Wall Street. Dow Jones gained over 100 points to close at 0.3 per cent, whereas NASDAQ Composite and the S&P 500 closed at 1.01 per cent and 0.7 per cent, respectively.
 

Markets in Asia-Pacific, too, cheered in tandem ahead of the US Federal Reserve’s rate action later in the day today.
 

Meanwhile, back home, here’s a list of stocks that may see action in Wednesday’s trade:
 

YES Bank: Private equity majors Carlyle Group and Advent picked 9.99 per cent stake in the bank and would pump in around Rs 8,896 crore with full conversion of warrants into equity. The investment by the PE funds will be one of the biggest in the banking sector in recent times. READ MORE

Paytm: The board approved buyback of shares worth Rs 850 crore. The company would undertake the buyback exercise at a maximum price of Rs 810 per share, nearly 50 per cent premium to Tuesday’s closing price. Until the buyback period is completed, the company said that the management would not participate is any sale of shares. READ MORE

Vedanta: The company inked pacts with 30 Japanese technology companies to develop Indian semi-conductor and glass display manufacturing ecosystem.  The pacts were signed at the Vedanta-Avanstrate Business Partners Summit 2022 held last week in Tokyo, Japan. READ MORE

Tata Motors: The automaker would hike prices of commercial vehicles by up to 2 per cent from January to partially offset steep rise in raw materials. This makes the company’s third price increase in commercial segment this year and will be applicable across vehicles, however would differ across models and variants. READ MORE

SBI: The state-run lender raised interest rates by 15-100 basis points (bps) on various maturities on both domestic retail deposits, and bulk deposits. A peak deposit rate of 6.75 per cent was applicable on retail deposits on two buckets – one year to less than two years and two years to less than three years. READ MORE

Tata Power: The company received shareholders nod to appoint former Union home secretary Rajiv Mehrishi as an independent director on its board. Mehrishi is a retired Indian Administrative Service (IAS) officer of the 1978 batch and has a wide experience of over 42 years.
 

TVS Motor: The company plans to launch Euro-5 two-wheelers in Turkey, in line with regulations related to Euro-5 emission norms. The company awaits approval from European Union and local authorities, post which the product shall be launched. The management said that the new Euro-5 standard editions would encourage more new-age riders.
 

Ultratech Cement: The cement maker commissioned 1.9 metric tonnes per annum (mtpa) greenfield clinker-backed grinding capacity at Pali Cement Works, Rajasthan. The project is part one of capacity expansion plan announced in December 2020. With this, the company’s total cement capacity in Rajasthan stands at 16.25 mtpa.
 

Axis Bank: The private sector lender received board’s approval for allotment of 12,000 non-convertible Basel-III compliant Tier-2 bonds of face value of Rs 1 crore each. The total fund raise would be around Rs 12,000 crore at a coupon rate of 7.8 per cent annum payable annually.
 

Patel Engineering: The company said that the board would meet on December 16 to approve fund raise through issue of equity shares on rights basis to existing shareholders of the company.
 

Stocks in F&O ban: BHEL, Delta Corporation, and GNFC were banned in the F&O ban period on Wednesday, December 14.