CNBC-TV18's top stocks to watch out for on November 25

SUMMARY

Indian shares are likely to open flat-to-positive as the global markets surging on the back of optimistic comments on the trade deal between the US and China would support the domestic indices, however, the political developments in Maharashtra could limit the gains. Among the stocks in the news today, CARE Ratings downgraded Vodafone Idea and Gati Ltd, Muthoot Finance will acquire 100 percent stake in IDBI Asset Management (AMC) and IDBI MF Trustee company for Rs 215 crore while Unichem Lab received ANDA approval for Atenolol Tablets. Here are the stocks to watch out for:

By CNBC-TV18Nov 25, 2019 8:57:54 AM IST (Updated)

Vodafone Idea: CARE revised NCD long term ratings to CARE BBB- from CARE A-. The downgrade is on account of significant erosion in the overall risk profile of the company while taking into cognizance of the financial impact of unfavorable ruling of Supreme Court, significant losses in Q2FY20 due to provision related to AGR dues, recognition of deferred assets and provision for additional depreciation or impairment of assets and consequently resulting in the significant deterioration in the tangible net worth and overall debt protection metrics, it said. Rating agency CRISIL also revised ratings on NCD from BBB+ to BBB-.

IDBI Bank, Muthoot Finance: Muthoot Finance has entered into an agreement to acquire IDBI Bank's mutual fund unit, making its entry into mutual fund asset management space.

Unichem Lab: The company has received approval for its Atenolol Tablets USP in the strength of 25 mg, 50 mg, and 100 mg.

Ashoka Buildcon: The company’s subsidiary Ashoka Concessions Limited has received a Letter of Award (LOA) from the National Highways Authority of India for a project in Telangana worth Rs 1,000 crore.

Gati Ltd: CARE has revised the long term bank facilities and medium term fixed deposits to BB+, with stable outlook.

Power Grid: Power Grid Corporation of India Limited has been declared as a successful bidder in two intra-state transmission system projects of Uttar Pradesh under tariff-based competitive bidding (TBCB).

Shree Cement: The company has allotted 12.43 lakh equity shares to qualified institutional buyers at Rs 19,300 each.

MEP Infra: The company has received a Letter of Award (LOA) for a project in Uttar Pradesh worth Rs 158 crore.

Zee Entertainment: Subodh Kumar has resigned as director of the company with effect from November 22, 2019. The resignation letter will be placed before the board at the next meeting for appropriate noting.

Shoppers Stop: The company has added one store in Navi Mumbai, taking the total store count to 85.