Auto stocks in focus ahead of monthly sales

Auto stocks will be in focus as these companies will declare their December monthly sales.

Yes Bank said CARE downgraded the rating on infrastructure bonds to A/Negative {from A+ (Credit Watch with Developing implications) and Negative outlook assigned}. The outlook for the ratings is Negative considering the uncertainty related to equity raising, which is critical for the bank to maintain adequate capital buffers over the minimum regulatory requirement as well as fund future growth of the bank.

Sterling and Wilson Solar said the promoters have enabled repayment of Rs 1,000 crore. The outstanding loan from the date of listing has fallen from Rs 2,563 crore to Rs 1,644 crore.

Adani Green Energy (AGEL) said its step down subsidiary, Adani Renewable Energy (GJ), has commissioned its 75 MW Wind Power Project having Power Purchase Agreement (PPA) with Maharashtra State Electricity Distribution Company (MSEDCL) at Rs 2.85/kWh for a period of 25 years. Commercial sale of power from the Project to MSEDCL is expected to commence w.e.f. 1 January, 2020.

Skipper said CARE downgraded long term rating on the company's bank facilities to BBB+ with a stable outlook, from A with a negative outlook. The revision in the ratings is on account of deterioration in the financial performance of the company in FY19 and H1 FY20 on account of weak operational performance.

PTC India announced its selection as aggregator for Pilot Scheme - II issued by Ministry of Power for resolution of stressed thermal assets. The scheme is for procurement and supply of 2500 MW power on medium term basis for three year's period.

Bajaj Electricals said a meeting of the Board is scheduled to be held on 6 January 2020 to consider, among others, the proposal for raising of funds by issue of equity shares, convertible securities or any other securities, including, through a rights issue, preferential issue and/or qualified institutions placement.

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