Stocks to Watch: Hindalco, ZEE, Devyani International, Union Bank of India
Live MintHindalco Industries: The company has decided to take its US subsidiary Novelis Inc. public, 17 years after the Aditya Birla group flagship snapped up the top aluminium maker that now fetches over half of its revenue. Devyani International: Yum Restaurants India is likely to sell its entire 4.4% stake in quick service restaurant firm Devyani International through a block deal to raise ₹814.8 crore, CNBC-TV18 reported on February 20 quoting sources. Union Bank of India: The public sector lender on Tuesday said the Committee of Directors for Raising Capital Funds has approved the raising of funds up to ₹3,000 crore via qualified institutions placement, it announced in an exchange filing. The government is in talks with at least five private firms including Reliance Industries, Tata Power, Adani Power and Vedanta to invest around ₹44,000 crore each, the report said. HDFC Bank: India’s largest private sector lender does not plan to grow “just for the sake of market share", chief executive Sashidhar Jagdishan said on Monday, a month after the lender faced investor ire over lower-than-expected margins in the December quarter.
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