Stocks in news: HDFC, YES Bank, TVS Motor, Ultratech and more

Indian benchmark indices closed higher on Tuesday amid firm global market trends. Retail inflation fell below the RBI's upper tolerance level of 6 per cent for the first time in 11 months in November which boosted sentiment on Dalal Street. Sensex rose 402 points to close at 62,533. Nifty too advanced 48.85 points to end at 18,609.35, with 27 of its constituents closing in the red.

Here's a look at stocks that are likely to remain in news today.

HDFC: The mortgage lender has received approval from exchanges for transfer of non-convertible debentures (NCDs) to its subsidiary HDFC Bank. This is part of its plan to facilitate merger of HDFC with HDFC Bank.

UltraTech Cement: The cement major has commissioned 1.9 mtpa greenfield clinker backed grinding capacity at Pali cement works, Rajasthan. The company along with its subsidiary has 16.25 mtpa cement capacity in Rajasthan spread over 5 separate plant locations.

Axis Bank: The private lender has received board approval for allotment of 12,000 non-convertible, Basel III compliant Tier II bonds of the face value of Rs 1 crore each. The total fund raising would be Rs 12,000 crore at a coupon rate of 7.88 per cent per annum payable annually, on a private placement basis.

Yes Bank: The private lender said private equity majors Carlyle Group and Advent have bought 9.99 per cent stake. The two private equity funds together will infuse about Rs 8,896 crore in Yes Bank with full conversion of warrants into equity.

Bank of Baroda: The state-owned lender plans to sell its majority stake in Nainital Bank. The board of directors has cleared divestment of its majority shareholding in Nainital Bank (NBL), and authorised issuance of an advertisement inviting Expressions of Interest through a Preliminary Information Memorandum.

Also Read: Stocks in news: Tata Motors, ICICI Bank, Macrotech Developers, KEC International and more

TVS Motor Company: The two wheeler player plans to launch Euro-V emission norms compliant two-wheelers in Turkey. It plans to introduce Euro 5 compliant products like Jupiter, NTORQ Race Edition, Raider and Apache RTR 200 4V in the market.

IIFL Wealth Management: General Atlantic Singapore Fund Pte Ltd has offloaded stake worth Rs 564 crore in the company via open market transactions. The fund sold 31.15 lakh shares in IIFL Wealth at an average price of Rs 1,810.09 per share. However, Capital Income Builder bought 30.43 lakh shares in the company at an average price of Rs 1,810 per share.

Adani Transmission: The company has incorporated its wholly owned subsidiary - Adani Cooling Solutions. The new arm will carry on district cooling system business.

Bayer CropScience: The company has temporarily discontinued operations at crop protection formulations plant at Himatnagar in Gujarat, with effect from December 12. This is after the directions from the Gujarat Pollution Control Board.

IFB Industries: The company has nod of board of directors for investment of up to Rs 97 crore in equity issue of IFB Refrigeration in one or more tranches.

Sagar Cements: The board of directors on December 21 will consider a draft scheme of amalgamation for the proposed merger of its wholly-owned subsidiary Jajpur Cements with itself.

Heads Up Ventures: The company inked a contract with Reliance Retail, for sale of the products viz. fashion apparels, accessories, bags, footwear etc. under the brand name 'HUP' and its sub-brands on the e-commerce platforms of Reliance Retail.