BackStocks to Watch: Axis Bank, Yes Bank, Dish TV, Adani Enterprises, Wipro
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PremiumNEW DELHI: Here is the list of stocks that could be in focus on Tuesday:
Axis Bank: Has emerged as the frontrunner to buy Citi’s consumer business in India, piping rival contenders Kotak Mahindra Bank and Indusind Bank. Axis and Citi have signed an exclusivity agreement to hold bilateral negotiations as the Wall Street bank has already informed the others about their decision.
Yes Bank: A promoter group entity of Dish TV India Ltd on Monday filed a fresh lawsuit before the Bombay high court against its largest shareholder Yes Bank Ltd, questioning the legal validity of the shares owned by the bank in the satellite-TV provider.
Adani Enterprises: Has received Letter of Awards (LoAs) from Uttar Pradesh Expressways Industrial Development Authority for three greenfield Ganga Expressway Projects. The project cost is over ₹17,000 crore and is India’s largest-ever expressway project awarded to a private company under the public-private partnership (PPP) framework.
Telcos: The telecom department has asked the finance ministry to consider refunding input tax credits that telcos have accumulated under the goods and services tax regime. Though GST rules permit companies to claim refunds for taxes paid on inputs, telecom infrastructure remains specifically excluded.
Wipro: Will acquire Austin, Texas-headquartered Edgile for $230 million, a move that will strengthen the IT major's play in the cybersecurity services space. Edgile’s experienced cybersecurity and risk management professionals will allow Wipro to enhance its cybersecurity and risk consulting capabilities for the benefit of its customers.
Vedanta: Natural resources conglomerate Vedanta has acquired Nicomet, a leading nickel and cobalt producer in Goa, for an undisclosed amount. With the acquisition, Vedanta becomes India’s sole producer of nickel. The move is a step in the company’s mission towards making India self-reliant in critical minerals.
Eicher Motors: Royal Enfield, the maker of Bullet Motorcycle, has recalled 26,300 units of its most popular motorcycle the Classic 350 due to potential brake issue as a "precautionary measure". The issue pertains to a J1A motorcycle produced between 1 September 2021 and 5 December 2021.
Escorts Ltd: Shareholders of the farm machinery and construction equipment major have approved preferential allotment of nearly 94 lakh shares to Japan's Kubota Corporation, which is seeking a majority control of the Indian partner and become a joint promoter.
CCL Products: Ontario Pension Board on Monday sold 694,026 shares of coffee producer CCL Products to IMCO Emerging Markets Public Equity at ₹399.20 apiece.
RailTel Corp: The company has received work order from Defence R & D Organisation for expansion and enhancement of CIAG network capacity at a total cost of ₹68.31 crore. The entire work is to be completed in a period of seven months.
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