Stocks in the news: Reliance Communications, YES Bank

Reliance Communications: The telecom department told Reliance CommunicationsNSE 0.64 % (RCom) and Reliance Jio Infocomm on Tuesday that it can’t approve their deal to trade airwaves as it does not conform to its guidelines, dealing a big blow to the Anil Ambani-owned telco’s efforts to repay creditors and avoid insolvency proceedings.

YES Bank and Fortis HealthcareNSE -0.66 %: Private sector lender Yes Bank said it has sold over 2 per cent stake in Fortis Healthcare Ltd (FHL) in tranches. “We would like to inform that Yes Bank has sold 1,23,37,323 equity shares having nominal value of Rs 10 each, constituting 2.13 per cent of the paid-up share capital of FHL,” the lender said in a regulatory filing.

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