Following are the ten stocks that are likely to be in focus on Wednesday:
Wipro: The information technology major announced its collaboration with RSA, a general insurance provider. Wipro will assist RSA in its cloud migration efforts. The partnership, set for a three-year duration, aims to create a compliant, secure, and scalable IT infrastructure for RSA.
Force Motors: The manufacturer of commercial vehicles said it has acquired a 12.21% share in TP Surya Ltd for ₹2.68 crore, marking its entry into the into the renewable energy sector. TP Surya Ltd, a fully-owned subsidiary of Tata Power Renewable Energy Ltd, operates as a special purpose vehicle (SPV) dedicated to developing ground-mounted solar photovoltaic power projects in Maharashtra.
Axis Bank: Bain Capital, a leading private equity firm, is likely to offload an additional share in Axis Bank through a new block deal valued at $444 million, according to Moneycontrol. Affiliates of Bain Capital are planning to divest a 1.1% stake in the private sector bank through this block deal, with the proposed starting price set at ₹1,109 per share.
Laurus Labs. The pharma company said its fully-owned subsidiary Laurus Synthesis Private underwent a thorough inspection by the US Food and Drug Administration (FDA) from 4 to 12 December, following which the FDA issued a Form 483 that contained five observation.
Indian Bank: The lender has initiated a share sale to institutional investors, setting the starting price at ₹414.44 per share. Further specifics regarding the share issue were not disclosed. In August, the bank had sanctioned a plan to raise funds up to ₹40 billion through a qualified institutions placement (QIP) of its shares.
Cummins India: The power solutions technology provider announced the launch of Data Automated Teller Ultimate Machine, an intelligent fuel management system, in collaboration with Repos Energy, a startup backed by Ratan Tata.
Mankind Pharma: Chrys Capital arm Beige sold 1.79 crore shares in the pharmaceutical firm through open market transactions, amounting to ₹3,282 crore. Hema CIPEF disposed of 56,26,167 shares at an average rate of ₹1,832.8 each, and Cairnhill CIPEF sold 69,62,233 shares at an average price of ₹1,832.3. Meanwhile, Kotak Funds India Midcap Fund acquired 20,29,246 shares at ₹1,832.30.
Allcargo Terminals: The company said its container freight stations (CFS) saw a year-on-year volume increase of 2% in November, but witnessed a quarter-on-quarter decline of 13%, totaling 47.1 TEUs.
KIOCL: The state-owned company has announced the temporary halt of activities at its pellet manufacturing facility in Mangalore, starting Tuesday due to the lack of available iron-ore fines, which are essential for the plant’s functionality.
Equitas Small Finance Bank: The lender has appointed Ashwini Biswal as its chief compliance office with effect from 28 January, 2024.
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Published: 13 Dec 2023, 07:28 AM IST