Top stocks to watch out for on February 18: Yes Bank, DHFL, Jet Airways, Reliance Power

SUMMARY

The Indian market is set for a mixed start on Monday, following Asian cues as investors hope for progress in the US-China trade talks this week and policy stimulus from major central banks. Here are the top stocks to watch out for in today's trade:

By CNBC-TV18Feb 18, 2019 7:42:21 AM IST (Published)

Reliance Power, Reliance Infra: Anil Ambani-led Reliance Group has reached a 'standstill agreement' with more than 90 percent of its lenders under which they will not sell any of the shares pledged by promoters till September.

Yes Bank: The Reserve Bank of India (RBI) may impose a monetary penalty on Yes Bank for breaching the confidentiality norms of its communications exchange with the private bank.

Wipro: Markets regulator Sebi on Friday granted certain exemptions to Wipro from the buyback norms in case of the IT firm's proposed share repurchase programme, according to an order by the watchdog. (Reuters)

DHFL: Baring, Bain and Hero Fincorp are in talks to buy a 10 percent stake in DHFL, sources told The Economic Times, adding that Kapil Wadhawan, the chairman of the company, is planning to step down from active management after the sale.

Loss-making Jet Airways is likely to receive fund infusion worth over Rs 3,000 crore post-debt-rejig and investments by Etihad Airways as well as National Investment and Infrastructure Fund (NIIF) while founder Naresh Goyal might remain the promoter with less than half of the existing majority stake of 51 percent, according to sources.

Vodafone Idea is likely to mop up about Rs 20,000 crore from its proposed stake sale in mobile tower firm Indus Tower and monetisation of optical fibre assets, sources told PTI. The country's largest telecom operator plans to use the funds for lowering its debt, which stood at Rs 1,23,660 crore at the end of 2018.

The nations largest lender State Bank has begun a massive employee engagement programme to ensure its 2.6 lakh-strong staff does not work mechanically and is sufficiently motivated to take on newer challenges that the future will throw up, a top official has said.

Kwality Ltd: The dairy firm, which is undergoing a corporate insolvency resolution process (CIRP), on Saturday sought more time to declare its financial results. It said after an order of the National Company Law Tribunal (NCLT), the powers of the board of directors of the company stood suspended and are being exercised by the interim resolution professional appointed by the NCLT.

Dr Reddy's Labs: The company's Duvvada plant received a VAI (Voluntary Action Indicated) status from the USFDA and an EIR for thefacility from the regulator.

Tech Mahindra: The company's board will consider the buyback of shares on February 21.