Stocks in the news: Infosys, IDFC Bank, ONGC, Jet Airways, HDFC and Kotak Mahindra Bank

IOC, ONGC and OIL: government is considering a plan to sell shares worth $2 billion in Oil and Natural Gas Corp (ONGC), Indian Oil Corp (IOC) and Oil India NSE 0.17 % Ltd (OIL) to help meet this year’s divestment target, according to people familiar with the matter. This would be on top of the proceeds generated from a likely Rs 10,000-crore share buyback by these companies.

HDFC: India’s largest mortgage lender is set to raise up to $1 billion through its maiden dollar bond sales which is likely to hit the market in January, three people with the direct knowledge of the matter.

Kotak Mahindra Bank: ING Mauritius Investments I sold 1.27 cr shares of Kotak Mahindra BankNSE 2.86 % on Thursday at an average price of Rs 1,130 per share, NSE block deal data showed. TFL Pension Fund bought 6.25 lakh shares, Government of Singapore bought 95.57 lakh shares and Aberdeen Asset Management Asia bought 25.63 lakh shares, data showed.

IDFC Bank: Domestic ratings agency Icra has downgraded the long-term ratings of the youngest private sector lender IDFC Bank on profitability concerns. Downgrading the bank, the agency said profitability of the bank will remain weak in the medium- to near- term even after the planned merger with Capital First and added that high cost wholesale liabilities are also a concern.

YES Bank: Former SBI chairman O P Bhatt has resigned from the panel set up by Yes Bank to find a successor to its MD and CEO Rana Kapoor, the private sector bank said Thursday. Bhatt, who was an external expert on the Search and Selection Committee (S&SC), resigned with “immediate effect” as “there may be a potential conflict of interest”, the bank added.

 

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