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Stocks in the news: YES Bank, Asian Paints, Tata Global and Bharti Airtel

NEW DELHI: Nifty futures on the Singapore Exchange traded 7 points, or 0.06 per cent, down at 12,265, indicating a flat-to-negative start for Dalal Street. Here are the stocks that may buzz during the day:

Sterlite Technology: Sterlite Technologies on Wednesday reported a net profit of Rs 91 crore (excluding exceptional items) during December 2019 quarter. The company had registered a net profit of Rs 146 crore in October-December quarter a year ago.

Edelweiss Financial: Edelweiss Group Chairman Rashesh Shah on Wednesday was questioned by the Enforcement Directorate for five hours in a Foreign Exchange Management Act violation case. This was the second time that the ED had summoned Shah after he failed to appear last week.

Asian Paints: The Competition Commission of India has ordered a probe against Asian Paints for allegedly hindering the entry of JSW Paints by virtue of its dominance in the market for manufacture and sale of decorative paints.

UltraTech, Ambuja Cements: UltraTech and Ambuja are competing to further consolidate their grip in the east by taking over Emami Group’s cement asset in a potential billion-dollar buyout

Bharti Airtel: Bharti Airtel has raised $3 billion through QIP and FCCBs, in what it called “the largest dual tranche equity and FCCB offering in the Asia-Pacific”.

Tata Global Beverages: Australia’s Paradice Global Small Mid Cap Fund has sold 33.88 lakh shares of Tata Global Beverages through a bulk deal on NSE at Rs 390.12 per share

Axis Bank: SAT has stayed a Sebi order rejecting Axis Bank’s request to allow it to invoke the pledge on shares in the Karvy Stock Broking case

Yes Bank: Troubled lender Yes Bank has appointed IDFC Securities as an adviser for raising funds and also to bring in a strategic investor.

JSW Steel: Sajjan Jindal-led JSW group company Forma has shut down its operations within one year of its launch, according to a PTI source. Forma used to take steel from JSW Steel to make products and supply it to dealers.

Jet Airways: South America’s Synergy Group and an Indian asset reconstruction company Prudent ARC are said to have submitted initial bids for investing in bankrupt carrier Jet Airways. Indian conglomerate Hinduja Group stayed away from the bids, said a person aware of the development.

Telecom: Telecom operators Bharti Airtel, Reliance Jio and Vodafone Idea have submitted their applications for 5G trials. Airtel has joined hands with Huawei, ZTE, Ericsson and Nokia for 5G trials in the country, while Jio has partnered Samsung, PTI sources said.

Auto: Honda Motorcycle & Scooter India said it does not see any revival in the automobile sector in the near term. Senior Vice President for Sales and Marketing Y S Guleria said he was not very hopeful of the government giving any concession to the industry on GST rates.

Tata Group: Tata Sons has finalised plans for a board meeting shortly, with the Supreme Court having stayed a tribunal order that had quashed the ouster of Cyrus Mistry

Source: Economic Times