IndusInd Bank: The stock was the top gainer among Nifty 50 companies and traded up more than 6% as the bank on Thursday said it has finalised a potential candidate for the position of managing director and chief and executive officer to succeed Romesh Sobti, whose term will end in March 2020. The appointment is now subject to Reserve Bank of India’s approval.
IOC: Shares traded 4% lower as the state-owned oil retailer on Thursday reported a whopping 83% drop in the September quarter net profit on the back of a slump in refinery margins and inventory losses. Net profit was at ₹564 crore, sharply lower than ₹3,247 crore in the year-ago period. Inventory loss stood at ₹1,807 crore in the quarter as against a gain of ₹2,895 crore a year ago.
Yes Bank:Â After jumping 27% on Thursday, shares of the private lender fell nearly 6% in early deals ahead of the September quarter results to be announced later today. The stock had surged as the bank said it received a binding offer of $1.2 billion from a global investor. The investment will be made through fresh issuance of equity shares, the bank said in a filing with stock exchanges.
Vodafone Idea:Â Shares surged nearly 20% after UK-based Vodafone Group dismissed rumours of plans to exit India and reiterated that it would support the management in the country. The company said it is also actively engaging with the Indian government. News agency IANS had reported that Vodafone Idea Ltd may discontinue India operations due to its inability to pay penalty in the adjusted gross revenue case amid piling debt.
Central Bank: The stock traded up nearly 6% ahead of the September quarter earnings to be released later today. Shares of the state-run lender have been on the rise since Wednesday as the bank said its board has approved raising ₹3,353 crore equity capital by allotting preferential shares to the government. The approval is subject to the nod of shareholders and regulators.
DHFL:Â Shares traded nearly 5% higher as lenders to the housing-finance company plan to file an intervention application against the Bombay High Court order restraining the company from making payments to all creditors. According to a Mint report, lenders fear that by stopping payment to banks in securitisation deals done by DHFL, retail borrowers stand the risk of being classified as defaulters.
