Stocks in Focus on December 8: Canara Bank, Titan, Hemisphere Properties, Jubilant Life to Yes Bank; here are the 5 Newsmakers of the Day

Domestic equity indices extended their winning run to a third consecutive trading session on Monday, December 12, 2020, to hit the fresh lifetime highs. The S&P BSE Sensex jumped 347.72 points or 0.77 per cent to 45,426.55. The Nifty 50 index gained 97.20 points or 0.73 per cent to close at 13,355.05. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, December 8, 2020. List of such five stocks:

Canara Bank: Canara Bank on Monday evening said that it has launched a qualified institutional placement (QIP) to raise funds from institutional investors. The state-owned lender has plans to raise up to Rs 2,000 crore. The company has set a floor price of Rs103.5 per share (12% discount). 

Titan: Titan Company, a part of the Tata Group, on Monday said that its board has decided to scale down the operations of its wholly-owned subsidiary, Favre Leuba AG (FLAG), with immediate effect. The company has said that it has made a series of investments aggregating to approximately Rs 275 crore in FLAG. Consequently, this will lead to Titan making provisions in the current financial year for additional impairment pertaining to its investments in FLAG, in addition to the impairment of Rs 145 crore already made in earlier years. 

Hemisphere Properties: Government has big plans for the company, Zee Biz Exclusive. The Ministry of Housing and Urban Development will develop the land and help the company in unlocking the land value. Hemisphere has a large land bank valued Rs 13,000 crore. It has 740 acres of land in 4 metros. Government has 51.12% stakes in Hemisphere Properties. 

Jubilant Life: The company is likely to be demerged in early 2021, Zee Business exclusive. Talks for a long-term contract with respect to vitamin nutritional and speciality chemical supplies, with a big global FMCG is in the process. Talks related to manufacturing/ distribution license of the COVID-19 vaccine in is going on with a pharma company. 

See Zee Business Live TV Streaming Below:

Yes Bank: The private lender is in discussion with global investors like Oaktree, Varde and SC Lowy to create asset reconstruction companies (ARC). It has plans to start ARC with bad loans/ NPA worth Rs 40,000 crore.