CNBC-TV18's top stocks to watch out for on February 26

SUMMARY

Indian shares are expected to open lower on Wednesday, tracking heavy selloffs in global markets after the US issued a warning to Americans to prepare for the possibility of a coronavirus pandemic. Bandhan Bank, which received RBI nod to expand its branch network, and Yes Bank, which was downgraded by Care Ratings, are among the key stocks in focus today. Here is a list top stocks to watch out for:

By CNBC-TV18Feb 26, 2020 7:17:10 AM IST (Published)

The RBI allowed Bandhan Bank to expand its branch network after considering the efforts made by the private lender to comply with the licensing conditions. The RBI had in September 2018 barred the bank from expanding its network as the lender failed to reduce the promoters' stake to 40 percent from close to 82 percent within the stipulated three-year time frame of commencing operations. Currently, the promoters' holding in the bank is 62 percent.

CARE Ratings placed Yes Bank's bonds worth Rs 21,000 crore on "credit watch with negative implications" citing the continued delay in raising core equity capital. The agency said that in absence of the equity capital raise, the bank's core capital buffers continue to be at low levels and provide a lower cushion to absorb any losses on account of higher provisioning requirement due to weakening of asset quality. (Photo: IANS)

Tata Sons Chairman N Chandrasekaran on Tuesday met Communications Minister Ravi Shankar Prasad, even as an official said the telecom ministry is prepared to issue a notice to Tata Teleservices for paying only part of its dues as full and final settlement. Emerging from the meeting which lasted for over 30 minutes, Chandrasekaran declined to comment on the details of his discussion. He later also met Telecom Secretary Anshu Prakash. (AP Photo/Rafiq Maqbool)

IRB Infrastructure said it has bagged a contract for operating and collecting toll on Mumbai-Pune Expressway project under the toll-operate-toll model. The company has received a letter of acceptance from Maharashtra State Road Development Corporation for a period of 10 years and two months.

Wockhardt: India Ratings has revised the company’s ratings for short-term Bank facilities to “IND A4+/RWE” from “IND A4+” and long-term loan facilities rating to “IND BB+/ RWE” from “IND BB+/ Negative. CARE also revised long-term bank facilities (Fund Based) as “CARE BB+; (Under credit watch with positive implications)”; from “CARE BB+; Stable”.

Bank of Baroda (BoB) said it has moved the Supreme Court against an order passed by the Calcutta High Court in a matter related to a bank guarantee issued on behalf of Simplex Projects Ltd. A bank guarantee of Rs 6.97 crore was furnished by BoB to Indian Oil Corporation (IOCL) on behalf of Simplex Projects.

Bharat Petroleum has procured 500 million barrels of distress crude (five shiploads) at a discount of $3-5 per barrel to the already low prevailing price following order cancellations by coronavirus-hit China this month. When asked whether the company will be snapping up more such crudes, he answered in the negative saying that will only make inventory management unwieldy.

Vedanta's Anil Agarwal said he is open to selling stake in Cairn India to make it valuable for investors. Agarwal said that the company is interested in buying stake in BPCL.

Coal and mines minister Pralhad Joshi laid foundation stone of crusher and conveyor system at NALCO's mining and refinery complex in Damanjodi, Odisha. The system will cater to feed bauxite for the fifth stream of alumina refinery of the company. The project is expected to be completed by April 2022 and would cost around Rs 483 crore, Coal Ministry said in a statement.

Godawari Power & Ispat has commenced commercial production at the Rolling Mill (Capacity 4lk ton) and Iron Ore Beneficiation Plant having capacity of 10lk ton.