Stocks To Watch: Bajaj Finserv, UPL, Cyient DLM, SBI, Yes Bank, Paytm & More

Market watchers are expected to be keeping an eye on the top 10 stocks on Thursday, November 16, which include popular stocks like Paytm, SBI, Yes Bank, Bajaj Finserv, IIFL Finance, and Canara Bank.

Bajaj Finserv

With immediate effect, the Reserve Bank of India (RBI) directed the company to stop sanctioning and disbursing loans under its two lending products, the "eCOM" and the "Insta EMI Card," on Wednesday. This directive was made in particular due to the company's failure to provide Key Fact Statements to borrowers under these two lending products and the inadequacies in the Key Fact Statements it issued for other digital loans that the company had sanctioned. Additionally, these supervisory restrictions will not be lifted until the company has satisfactorily addressed the inadequacies identified by the RBI by providing Key Fact Statements to the borrowers.

One97 Communications

On Wednesday, One97 Communications Limited (OCL), the parent company of the Paytm brand, announced a partnership with Amadeus, a worldwide leader in financial services and payments. As part of this partnership, the company will include Amadeus's broad travel platform over the course of the following three years, improving the traveller experience from search to booking to payments.

Through this collaboration, customers will benefit from a more streamlined and effective booking experience thanks to the joint strength of Paytm's large user base and Amadeus's expertise. Paytm will provide hyper-personalized recommendations and dynamic pricing to its customers with AI-powered capabilities, leveraging Amadeus to provide a top-notch experience.

Paytm customers will find it simpler to search the best offers and book flights to places worldwide, all within the Paytm app, thanks to Amadeus APIs, which provide them access to a broad inventory of worldwide travel opportunities. Users will have easy access to a variety of travel-related stuff through one single API, including hotels, Low-Cost Carriers (LCC), Global Distribution Systems (GDS), and more.

Additionally, this collaboration opens the door for Paytm to work with national airlines in India to provide a single PNR solution. Travellers will have access to a wide variety of methods of payment thanks to Paytm's integration with Amadeus APIs, which includes the ease of UPI, Paytm Wallet, and Postpaid as well as the guarantee of a safe and secure payment gateway.

Canara Bank

On Wednesday, India Ratings and Research (Ind-Ra) communicated the rating 'IND AAA/Stable' to infrastructure bonds whereas Care Rating has reaffirmed CARE AAA; Stable (Triple A; Outlook: Stable) to infrastructure bonds of Canara Bank.

UPL

In order to pursue career opportunities outside of UPL Limited, Mr. Rohit Kumar has announced his decision to resign his position as Group General Counsel of UPL Limited effective November 15, 2023.

Cyient DLM

The appointment of Dr. Ajay Kumar (DIN: 01975789) as an Independent Director of Cyient DLM Limited has been authorised by the Board of Directors on November 15, 2023, and will be valid for three years, subject to the approval of the shareholders, if applicable.

IIFL Finance

At its meeting on November 15, 2023, the company's Finance Committee approved an investment in Samasta worth Rs. 199,99,99,983/- through the rights issue of 7,47,94,315 fully paid up equity shares with a face value of Rs. 10/-each, at a premium of Rs. 16.74 per share.

SBI

With effect from Wednesday, November 15, 2023, State Bank of India (SBI), the largest public sector lender, has revised its Marginal Cost of Funds Lending Rate (MCLR) rates. The 1-year MCLR rate is 8.55%, while the 2- and 3-year MCLR rates are 8.65% and 8.75%, respectively, according to SBI's website. However, the overnight MCLR is at 8%, the six-month MCLR is at 8.45%, and the one- and three-month rates are at 8.15%.

Yes Bank

Yes Bank on Wednesday announced that it received Rs 120 crore from the sale of its NPA portfolio to JC Flowers ARC. Following the announcement, the shares of Yes Bank closed 5.15% higher at Rs 20.40 apiece.

Dodla Dairy

On November 14, 2023, MSCI announced that at the end of November 2023, Dodla Dairy Limited would be added to the MSCI INDIA DOMESTIC SMALL CAP INDEX.

VST Tillers Tractors

Leading producer of agricultural equipment, VST Tillers Tractors Ltd (VST), showcased three brand-new tractors at the Agritechnica 2023 in Hanover, Germany, including its own electric tractor. VST has demonstrated its technological prowess by showcasing these cutting-edge products under the FIELDTRAC brand. Three models are on show at AGRITECHNICA, a seven-day exhibition that started on November 12, 2023: the 929 EV, the 932 DI with Stage V engine, and the 929 with HST transmission. Additionally, VST demonstrated its cutting-edge 24.5 horsepower Stage V engine.

The company's R&D team has spent the last three years conducting extensive research and testing, and the result is the 929 EV. Leading US farm equipment manufacturers have already been receiving EV solutions from VST for their agricultural machinery and drive trains for electric tractors.

In August of this year, the company unveiled six tractor models under Series 9, which is its most technologically sophisticated compact series. The VST-ZETOR brand was established in October 2023, and new, feature-rich, higher-horsepower tractors will soon be on the Indian market. The introduction of these cutting-edge models under the VST FIELDTRAC brand will further transform farm mechanisation in this market and establish the VST brand on a global scale.