Stocks to Watch: ICICI Bank, YES Bank, and More

Strategic Insights -

The Singapore Exchange's Nifty futures traded 37.50 points higher on Wednesday, indicating a positive start for Dalal Street. Several stocks are set to make headlines today, including ICICI Bank, YES Bank, Wipro, Prestige Estates, and others. Here's a rundown of the key developments:

Key Takeaways:

  • ICICI Bank will sell up to 2.21% stake in its brokerage arm ICICI Securities through an offer for sale, with a floor price of Rs 440 per share.
  • YES Bank has launched the Yes Private Prime Credit Card for India's affluent and ultra-high net-worth individuals.
  • Wipro will give wage hikes to junior employees effective January 1, 2021, and has rolled out promotions for high performers in bands up to B3, effective December 1, 2020.
  • Prestige Estates' acquisition of certain assets by affiliates of US-based investment firm Blackstone Group Inc. has been approved by the CCI.
  • MTNL will seek shareholders' nod to raise Rs 2,138.6 crore as part of a sovereign guarantee bond on December 31.
  • Indian Bank has raised Rs 1,048 crore by issuing bonds on a private placement basis.
  • Coal India's coal allocation to the power sector under special e-auction has seen a 27.7% rise to 16.48 million tonnes (MT) in the April-October 2020 period.
  • JSW Steel has reported a 3% growth in its crude steel production to 13.32 lakh tonnes (LT) for November 2020.
  • TVS Srichakra has announced a Rs 1,000 crore capital expenditure plan, including capacity ramp-ups at its facilities.
  • Bharti Airtel has completed the first phase of its Open Hybrid Cloud Network, built with IBM and Red Hat's portfolio of hybrid cloud and cognitive enterprise capabilities.

Statistics:

  • ICICI Bank's stake sale in ICICI Securities may fetch the bank at least Rs 313 crore.
  • YES Bank has launched the Yes Private Prime Credit Card for India's affluent and ultra-high net-worth individuals.
  • Wipro will give wage hikes to junior employees with effect from January 1, 2021, and has rolled out promotions for high performers in bands up to B3, effective December 1, 2020.
  • Prestige Estates' assets acquisition by Blackstone Group Inc. valued at undisclosed amounts.
  • MTNL seeks to raise Rs 2,138.6 crore through sovereign guarantee bonds.
  • Indian Bank has raised Rs 1,048 crore through private placement of bonds.
  • Coal India's coal allocation to power sector saw a 27.7% rise to 16.48 MT in April-October 2020.
  • JSW Steel's crude steel production grew 3% to 13.32 LT in November 2020.
  • TVS Srichakra plans Rs 1,000 crore capital expenditure, including capacity expansions.
  • Bharti Airtel completes first phase of Open Hybrid Cloud Network with IBM and Red Hat.

Sources:

  • "Nifty futures trade higher in sign of positive start on Dalal Street." (timescontent.com)
  • "ICICI Bank to sell up to 2.21% stake in ICICI Securities through OFS." (timescontent.com)
  • "YES Bank launches Yes Private Prime Credit Card for affluent Indians." (timescontent.com)
  • "Wipro to hike wages of junior employees from Jan 1, 2021." (timescontent.com)
  • "Prestige Estates' acquisition of assets by Blackstone Group Inc. approved." (timescontent.com)
  • "MTNL to seek shareholders' nod to raise Rs 2,138.6 crore." (timescontent.com)
  • "Indian Bank raises Rs 1,048 crore through private placement of bonds." (timescontent.com)
  • "Coal India's coal allocation to power sector sees 27.7% rise." (timescontent.com)
  • "JSW Steel reports 3% growth in crude steel production." (timescontent.com)
  • "TVS Srichakra plans Rs 1,000 crore capex, capacity expansions." (timescontent.com)
  • "Bharti Airtel completes first phase of Open Hybrid Cloud Network." (timescontent.com)