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Stocks in the news: YES Bank, Reliance Ind, Bharti Airtel, Gati, M&M and Allcargo Logistics

Antique Stock Broking has maintained buy rating on ICICI Bank with a target price of Rs 575.

ETMarkets.com|
Updated: Dec 06, 2019, 08.10 AM IST
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BCCL
Sensex-BCCL
IIFL has maintained reduce rating on Ambuja Cements with a target price of ₹198.
NEW DELHI: Nifty futures on the Singapore Exchange traded 24 points, or 0.20 per cent, higher at 12,068, indicating a positive start for Dalal Street. Here are a few stocks which may buzz the most in today’s session:

YES Bank: Global ratings agency Moody's Investor Service on Thursday downgraded the credit ratings of Yes Bank with a negative outlook. The rating agency attributed the downgrade to its expectation that "the bank's pool of potential stressed assets and low loss absorbing buffers against those assets - will add pressure to its funding."

Bharti Airtel: S&P Global kept Bharti Airtel’s rating on watch negative, citing that Rs 34,300 crore AGR setback will decisively weaken the telecom major’s leverage.

Reliance Industries: CLSA has raised the target price on India’s most valuable company Reliance Industries to Rs 2,010 from Rs 1,710 after the company’s telecom arm Jio announced tariff hikes of up to 35 per cent.

Bharti Airtel: The telecom operator’s plan to raise $2 billion via an equity issue as part of a larger $4 billion fund-raising move will strengthen its balance sheet but lead to an equity dilution of about 6 per cent for promoters, analysts said.

Allcargo Logistics: The company said it has agreed to buy a controlling stake in Gati. The all-cash deal that values Gati at about Rs 1,000 crore will see Allcargo eventually acquiring about 45 per cent in Gati

M&M: The company said it has completed acquisition of 36.63 per cent stake in Meru Travel Solutions in the first tranche as part of its Rs 201.5-crore deal to acquire 55 per cent shareholding in the radio taxi operator.

Andhra Bank: The Reserve Bank imposed a fine of Rs 25 lakh on Andhra Bank for non-compliance with certain provisions of directions issued on KYC and anti-money laundering.

ICICI Bank: Antique Stock Broking has maintained buy rating on ICICI Bank with a target price of ₹575, after the bank's analyst meet.

Eris Lifesciences: Citigroup has maintained buy rating on Eris Lifesciences and raised target price to ₹750 from ₹730, after the company acquired a vildagliptin trademark, Zomelis, from Novartis for $13 million.

Jaypee Infratech: JSW Infrastructure said it has reached an understanding with Suraksha Realty to provide financial and technical support to the Mumbai-based company which has submitted the final offer to acquire debt-ridden Jaypee Infratech.

Ambuja Cements: IIFL has maintained reduce rating on Ambuja Cements with a target price of ₹198. In a recent meeting with the brokerage, the company's management said that demand growth is likely to improve in 2020 and log upwards of 5%.

Insider Buys:
  • Electrosteel Castings Limited: Malay Commercial Enterprises Ltd has bought 8,00,000 shares through Market Purchase from Dec 2, 2019 to Dec 3, 2019.
  • Gokaldas Exports Limited: Gautham Madhavan has bought 36,000 shares through Market Purchase on Dec 3, 2019.
  • Greenply Industries Limited: S. M. Management Pvt. Ltd. has bought 20,347 shares through Market Purchase on Dec 3, 2019.
  • Indiabulls Integrated Services Limited: Sudhir Khullar has bought 40,000 shares through Market Purchase on Nov 28, 2019.
  • Panama Petrochem Limited: Arif Amirali Rayani has bought 18,273 shares through Market Purchase on Dec 4, 2019.
  • Panama Petrochem Limited: Ittefaq Ice And Cold Storage Co. Pvt Ltd has bought 38,819 shares through Market Purchase on Dec 3, 2019.
  • Sadbhav Engineering Limited: Shantaben V. Patel has bought 9,25,000 shares through Market Purchase on Dec 2, 2019.
  • Summit Securities Limited: Swallow Associates Llp has bought 22,785 shares through Market Purchase from Jun 23, 2016 to Dec 3, 2019.
  • Usha Martin Limited: Rajeev Jhawar has bought 50,000 shares through Market Purchase on Dec 3, 2019.
Insider Sells:
  • Aavas Financiers Limited: Ghanshyam Rawat has sold 16,076 shares through Market Sale from Nov 8, 2019 to Nov 18, 2019.
  • Beardsell Limited: Bharat Anumolu has sold 18,006 shares through Market Sale on Nov 29, 2019.
  • Crompton Greaves Consumer Electricals Limited: Macritchie Investments Pte. Ltd has sold 1,88,66,327 shares through Market Sale on Dec 3, 2019.
  • Future Consumer Limited: Krishnanshi Traders Private Limited has sold 52,500 shares through Market Sale from Nov 25, 2019 to Nov 29, 2019.
  • Grasim Industries Limited: Thomas Varghese has sold 23,575 shares through Market Sale on Nov 29, 2019.
  • HDFC Asset Management Company Limited: Chirag Setalvad has sold 60,422 shares through Market Sale from Dec 2, 2019 to Dec 3, 2019.
  • HDFC Asset Management Company Limited: Piyush Surana has sold 15,000 shares through Market Sale on Dec 2, 2019.
  • HDFC Asset Management Company Limited: Simal Kanuga has sold 15,000 shares through Market Sale on Dec 2, 2019.
  • Indiabulls Real Estate Limited: Anil Mittal has sold 40,000 shares through Market Sale from Nov 11, 2019 to Nov 29, 2019.
  • Indiabulls Real Estate Limited: Sudhir Khullar has sold 40,000 shares through Market Sale on Nov 28, 2019.
  • Indiabulls Real Estate Limited: Vikas Khandelwal has sold 20,000 shares through Market Sale from Nov 11, 2019 to Nov 29, 2019.
  • Indiabulls Ventures Limited: Sudhir Khullar has sold 20,000 shares through Market Sale on Nov 28, 2019.
  • Indusind Bank Limited: Romesh Sobti has sold 1,00,000 shares through Market Sale on Dec 4, 2019.
  • Infibeam Avenues Limited: Infinium Auto Mall Private Limited has sold 17,00,000 shares through Market Sale on Dec 3, 2019.
  • Infibeam Avenues Limited: O3 Developers Private Limited (Formerly Known As Infinium Natural Resources Investments Pvt Ltd) has sold 15,05,000 shares through Market Sale from Dec 2, 2019 to Dec 3, 2019.
  • L&T Finance Holdings Limited: Ravindra Gersappa has sold 40,000 shares through Market Sale from Dec 2, 2019 to Dec 4, 2019.
  • Sadbhav Engineering Limited: Shashin V. Patel has sold 9,25,000 shares through Market Sale on Dec 2, 2019.
  • Wipro Limited: William Stith has sold 48,400 shares through Market Sale on Dec 2, 2019.
Note: Disclosure made under Reg 13(4), 13(4a) of SEBI (IT) regulations 1992.

Bulk and Block Deals :
Blg Tickers Date Company Name Acquirer/Seller Buy /Sell Qty Traded Price
AGC 05-Dec-19 AGC Networks Limited Subodh Maskara Buy 520,443 125.00
AGC 05-Dec-19 AGC Networks Limited Citoc Investment Services Llp Sell 520,000 125.00
NRYS 05-Dec-19 Narayani Steels Limited Chirag Narendra Modh Buy 199,065 23.75
TELX 05-Dec-19 Tata Elxsi Ltd Tower Research Capital Markets India Private Limited Sell 20,303 842.55
YES 05-Dec-19 Yes Bank Ltd Tower Research Capital Markets India Private Limited Buy 806,462 62.32
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)
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