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Asian stock markets are higher today as Chinese and Hong Kong shares gain. The Shanghai Composite is up 0.7%, while the Hang Seng is up 0.5%. The Nikkei 225 is trading down by 0.3%.

Back home, India share markets have opened the day on a positive note. The BSE Sensex is trading up by 101 points while the NSE Nifty is trading up by 29 points.

The BSE Mid Cap index and the BSE Small Cap index have opened the day up by 0.5% and 0.6%, respectively.

Sectoral indices have opened the day on a mixed note with stocks in the FMCG sector and realty sector witnessing buying interest, while energy stocks and telecom stocks are trading in red.

The rupee is trading at Rs 70.94 against the US$.

In news from the banking sector, Yes Bank share price will be in focus today as the private lender is scheduled to announce its September quarter (Q2FY20) results later today.

The banks' board will also consider the fundraising plan today. Yesterday, the bank informed the exchanges that it has received a binding offer for US$ 1.2 billion funding from an overseas investor.

Yesterday, shares of the company zoomed 35% intraday and ended 23% higher on back of the above news.

As per an article in The Economic Times, there are expectations that the bank will continue to see challenges from consolidation in business consequently affecting operating performance leading to de-growth in net interest income (NII) and pre-provisioning operating profit (PPOP).

Note that the bank has been trying to raise capital to fight off the liquidity issues.

In an earlier release, it had said it received strong interest from multiple foreign as well as domestic private equity and strategic investors for the capital raise and remains firmly on course to raising growth capital subject to necessary approvals.

In early October, a media report had claimed that Microsoft was among three investors, which were in talks for a stake in Yes Bank. However, the bank had denied the reports.

The private lender clarified that it continues to explore various means of raising capital and funds through the issuance of securities to a diverse set of investors, in order to meet its business regulatory requirements.

Yes Bank share price opened the day down by 2.4%.

Speaking of Yes Bank, Ankit Shah shares an interesting observation in the private sector bank's shareholding pattern over the last one year.

Here's what he wrote about it in a recent edition of The 5 Minute WrapUp...

• What I found made me nervous and worried - individual investors have been the worst hit by the Yes Bank share price crash.
  
  The chart shows the number of shares held by individual shareholders holding nominal share capital up to Rs 1 lakh.

Yes Bank Crash: Who's Been the Worst Hit?

As you can see, the total shares held by individual shareholders holding nominal share capital up to Rs 1 lakh increased from 14.5 crore shares at the end of June 2018 to 43.4 crore at the end of June 2019. That's a drastic 200% jump in just one year.

Even the total number of individual shareholders that held Yes Bank shares increased by 195% from 3.76 lakh at the end of June 2018 to 11.08 lakh at the end of June 2019.

The key takeaway here for all individual investors is to not confuse the cheapness in share price for cheapness in valuations. Do not blindly buy shares of battered stocks expecting them to rebound to their earlier levels.

Moving on to news from the pharma sector, Lupin is in advanced talks to sell its Japanese generics subsidiary Kyowa Pharmaceuticals for an enterprise value of US$ 600 million to a local player as it steps up efforts to significantly cut operations in the world's third largest pharma market.

According to reports, an announcement is expected in November.

In August, Lupin sold its injectables business to neo ALA Co, a wholly owned subsidiary of Abu Dhabi based Neopharma group, for an undisclosed sum to help streamline Japanese operations and increase focus on branded generics.

Lupin acquired Kyowa in 2007 from the Sugiura family to market finished formulations in Japan.

In other news, Aster DM Healthcare through its Subsidiary - Aster DM Healthcare FZC has entered into a share purchase agreement on October 30, 2019, to acquire 80% stake in Premium Healthcare, UAE.

The target entity is in the business of running and operating a Clinic at Dubai International Financial Centre. The acquisition of shares is likely to be completed by December 31, 2019.

Lupin share price and Aster DM Healthcare share price have opened the day up by 1.6% & 2.6%, respectively.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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