CNBC-TV18's top stocks to watch out for on January 1

SUMMARY

The Indian markets are likely to open lower on Wednesday amid rising geopolitical tensions in the Middle East and the Korean peninsula. Investors also await monthly auto sales data for December. Among the stocks in the news today, CARE ratings downgraded Yes Bank's debt instruments and Adani Green Energy commissioned its 75 MW Wind Power Project. Here the top stocks to watch out for in today’s trade:

By CNBC-TV18Jan 1, 2020 7:49:18 AM IST (Updated)

Yes Bank: CARE downgraded the rating on infrastructure bonds to A with Negative outlook from A+ (Credit Watch with Developing implications). The revision of ratings assigned to the debt instruments factors in more than expected delay in raising core equity capital. There is continued uncertainty related to quantum and timelines of raising equity capital, which would keep the bank’s capital buffers at low levels and provide lower cushion to absorb any losses on account of higher provisioning requirement due to weakening of asset quality.

Aster DM Healthcare: The company entered into a share purchase agreement to acquire 100 percent stake in Abu Dhabi’s Wahat Al Aman Home Healthcare.

CreditAccess Grameen: The company completed direct assignment transaction of Rs 434.99 crore. With this transaction, the company has completed one securitization and four Direct Assignment transactions and have drawn a total of Rs 816.69 crore in FY20.

Embassy Office Parks REIT: Embassy REIT executed agreements with Embassy Sponsor to acquire 0.6 million square feet leasable area at a 9.25 percent initial yield on development completion in Q4FY2023 within the overall Embassy Manyata business park campus in Bengaluru.

PTC India: The company won the bid as an aggregator for Pilot Scheme - II, issued by Ministry of Power, for the resolution of stressed thermal assets. The scheme is for procurement and supply of 2500 MW power on medium-term basis for three year's period.

Corporation Bank: Bank has accepted buy-back offer of its wholly-owned subsidiary CorpBank Securities (an unlisted entity) to the extent of 25 percent of its total paid-up equity share capital as at September 30, 2019.

Adani Green Energy: The company’s subsidiary Adani Renewable Energy (GJ) Ltd, has commissioned its 75 MW Wind Power Project having Power Purchase Agreement with Maharashtra State Electricity Distribution Company Ltd at Rs 2.85/kWh for a period of 25 years. With this, 2.50 GWac of renewable energy projects are operational. AGEL has total 5.29 GWac portfolio of renewable capacity in India, out of which 2.79 GWac projects are under implementation, it said.

Monnet Ispat and Energy: Company entered into a Share Purchase Agreement with Champak Corporate Services Pvt Ltd, to sell and transfer the entire equity shareholding held by the company in its subsidiaries Monnet Sports Foundation and Chomal Exports Pvt Ltd.

RITES: Company has received a reaffirmed rating of A1+ for short term non fund based facility upto an amount of Rs 850 crore from Infomerics Valuation and Rating.

Sterling and Wilson Solar: Promoters have enabled repayment of Rs 1,000 crore from listing date till December 31, 2019. Balance loan amount of Rs 1,644 crore will be paid over next three quarters, it said.

Skipper: CARE downgraded its long-term rating on the company's bank facilities to BBB+ with Stable outlook, from A with a negative outlook. The revision in the ratings is on account of deterioration in the company’s financial performance in FY19 and H1FY20 on account of weak operational performance.

Bajaj Electricals: Company's board meeting is scheduled on January 6 to consider, among others, the proposal for raising of funds by issue of equity shares, convertible securities or any other securities.