Stocks to watch: Welspun India, YES Bank, Allcargo Logistics, Gati, M&M

At 08:28 AM, Nifty futures on the Singapore Exchange (SGX) were trading 24.50 points or 0.20 per cent higher at 12,068.50, indicating a positive start for the Indian market on Friday. 

Here's a look at the top stocks that may hog the limelight today - 

Welspun India: Welspun group promoters have acquired a majority stake in One Industrial Space, which is into developement of warehousing space, in their personal capacities. 

Allcargo Logistics, Gati: Allcargo Logistics, part of the Avvashya Group, has forayed into express logistics segment by acquiring a 44.64 per cent stake in Gati. READ MORE

YES Bank: Global rating agency Moody's on Thursday downgraded Yes Bank’s long-term foreign currency rating from “Ba3” to “B2” as potentially stressed assets and low loss-absorbing buffers may add pressure to its funding and liquidity. This may create additional risks to its standalone credit profile. READ MORE

Tata Motors: As per reports, SN Burman, Vice President (Sales, Marketing & Service-Passenger vehicles) at Tata Motors has resigned from his position. Additionally, other positions have also been rejigged owing to slowing passenger vehicle (PV) sales. 

Oil-linked stocks: OPEC and allies led by Russia on Thursday agreed one of the deepest output cuts this decade to prevent oversupply in a deal that will apply for an unexpectedly short period of the first three months of 2020. On Friday, OPEC will meet with Russia and other producers, a group known as OPEC+. READ MORE  

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

Tata Motors: As per reportsJLR November UK sales fell to 8,199 units against 9,055 units YoY. 

VST Tiller Tractors: Power Tillers Sales down 41% yoy to 1,238 units. Tractor Sales down 10% yoy to 568 units.

LIC Housing Finance will raise Rs 550 crore via debt, according to Bloomberg report.

Mahindra & Mahindra announced that the company has acquired 36.63 per cent of the Equity Share Capital of Meru Travel Solutions (Meru) in the first tranche of investment, and also the Right to appoint majority of the Directors on the Board of Meru.

Bank of Baroda to raise up to Rs 1,850 crore through AT 1 bonds issue. 



Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel