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Stocks in the news: Federal Bank, PNB Housing, ITC, Bharti Airtel and Ujjivan SFB

PNB Housing Finance said its exposure to the Omaxe group stood at over Rs 456 crore

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Last Updated: Dec 12, 2019, 08.59 AM IST|Original: Dec 12, 2019, 08.15 AM IST
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Maruti Suzuki India said it has partnered Federal Bank to provide dealer finance and customised automobile retail financing solutions to customers
NEW DELHI: Nifty futures on the Singapore Exchange traded 47.50 points, or 0.40 per cent, up at 11,996.50, indicating a positive start for Dalal Street. Here are a few stocks that may buzz during the day:

Ujjivan SFB:
The small finance bank is scheduled to be listed on bourses today. The issue was subscribed 166 timed during its book-building process.

Federal Bank: The country's largest car maker Maruti Suzuki India (MSI) on Wednesday said it has partnered Federal Bank to provide dealer finance and customised automobile retail financing solutions to customers.

PNB Housing Finance: PNB Housing Finance on Wednesday said its exposure to the Omaxe group stood at over Rs 456 crore at the end of September. There were rumours that the real estate firm has defaulted on its loan repayment.

ITC: ITC is extending its nascent frozen foods business to a range of new products and smaller towns and cities to compete with more established rivals such as McCain Foods and Godrej Yummiez, even as it chases an ambitious target of ₹1 lakh crore non-tobacco FMCG sales by 2030.

RIL, Airtel: Reliance Jio Infocomm and Bharti Airtel have stepped up the fight for subscribers by rolling out higher incentives for retailers who can win over each other’s customers, having just raised tariffs. Bharti Airtel retailers will get Rs 100 for every two Jio customers they convert, multiple distributors and retailers told ET. Jio has told retailers they will get Rs 100 for every new SIM card sold, almost three times the Rs 40 offered earlier.

Vodafone Idea: The telecom major denied reports about negotiations are taking place with Brookfields or Edelweiss to sell some assets.

Jaypee Infratech: Suraksha Realty, one of the two bidders for insolvent developer Jaypee Infratech, has raised objections to the interim resolution professional (IRP) and the committee of creditors (CoC) of the beleaguered company for putting both the bids of NBCC and Suraksha to vote simultaneously instead of the highest one.

Axis Bank: Axis Bank has put up its trustee services for sale, underlining the lender’s focus on its core banking business under chief executive Amitabh Chaudhry.

It is also evaluating the acquisition route to scale up microfinance book while its rivals such as Kotak Mahindra Bank and IndusInd Bank have already taken strides in this segment. Axis Bank managing director and chief executive Amitabh Chaudhry said the bank has studied the market but has not found a perfect match yet.

L&T Finance: L&T Finance is raising up to Rs 1,500 crore through AAA-rated bonds. The proceeds will be used for on-lending and refinancing of existing debt.


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