Yes Bank stock price plunged on upcoming expiry of lock-in of shares

The Markets Today in a nutshell

• Domestic benchmark indices ended on a positive note.
• Asian stocks advanced after the latest U.S. inflation showed that consumer prices rose less than expected in November, signaling that inflationary pressures could be starting to ease. Meanwhile, India’s wholesale inflation easing to a 21-month low of 5.85% in November also boosted sentiment.

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News you could use

? Yes Bank stock price plunged on upcoming expiry of lock-in of shares
Analysts and fund managers are advising investors to be cautious for two reasons – the upcoming expiry of lock-in of 75 percent of shares that will likely flood the counter with supply and most of the positives already being priced in. The lender appointed representative directors from Carlyle and Advent on its board after they acquired a stake in the company.

? Colgate Palmolive stock price declines as foreign brokerage maintains sell rating
Citi has maintained ‘sell’ rating on Colgate Palmolive with target at Rs 1,650. “Focus on both volume growth & premiumization is likely a tall ask. The company could require sustained investments with results likely to be delayed. We would watch out for investments to drive change in consumer habit,” Citi said.

? Patel Engineering stock price rose on fund raising announcement
The company said that a meeting of the Board of Directors of the company is scheduled to be held on December 16, 2022, to consider matters related to raising of funds through issue of equity shares of the company on rights basis.

News from the IPO world?

• Electronics manufacturing services film Elin Electronics IPO to kick off on Dec 20
• Abans Holdings IPO subscribed 42% on Day 3, QIB quota booked more than twice
• Landmark Cars IPO subscribed 23% in day 2 so far

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