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Business News/ Markets / Stock Markets/  Stocks to Watch: JSW Group, UltraTech Cement, Kesoram, Biocon, Infosys, Flair Writing, ITD Cementation
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Stocks to Watch: JSW Group, UltraTech Cement, Kesoram, Biocon, Infosys, Flair Writing, ITD Cementation

Foreign institutional investors net bought shares worth ₹8,147.85 crore, while domestic institutional investors sold ₹780.32 crore worth of stocks on 30 November 30, according to exchange data

On Thursday, the Sensex closed 87 points higher at 66,988.44, while the Nifty 50 ended 37 points up at 20,133.15.Premium
On Thursday, the Sensex closed 87 points higher at 66,988.44, while the Nifty 50 ended 37 points up at 20,133.15.

New Delhi: Following stocks are likely to be in focus in Friday's trade:

JSW Group: Will own 35% in a newly created joint venture with SAIC Motor Corp. Ltd, which owns MG Motor India, that would focus on electric vehicles with a plan to turn majority shareholder in two years. This partnership will give the JSW Group its much-desired entry into the EV space.

UltraTech Cement: The flagship company of Aditya Birla group has acquired the cement business of Kesoram Industries in a share-swap deal. UltraTech will issue one share for every 52 shares of Kesoram, implying an offer price of 173.15 per share, a 34% premium to Kesoram’s last close. The deal is estimated to be valued at 7,600 crore, including the debt the company will take on from Kesoram. 

Biocon: Subsidiary Biocon Biologics has completed the integration of Viatris’ biosimilars business in 31 European countries. The subsidiary had acquired global biosimilar business of Viatris in November last year.

Infosys: The IT major announced its collaboration with Shell on immersion cooling services to enable sustainability-first data centres. 

Wipro: The company has said that it is working with Amazon Web Services to redefine the future of lab processes in the life sciences industry. 

Flair Writing Industries: Will make its stock market debut on Friday. The issue price has been fixed at 304 per share. The 593 crore IPO was subscribed over 46 times on the third and final day of bidding.

ITD Cementation: The company has bagged a 1,001 crore order for civil and hydro-mechanical work in Andhra Pradesh.

Power Grid Corp: The state-owned electric services company has been declared as the successful bidder to establish two inter-state transmission system projects under the build, own operate and transfer basis, in Rajasthan.

LTIMindtree: The technology consulting and digital solutions company has been selected as a strategic partner by Metasphere, a wastewater application specialist, to scale its smart sewers management platform.

CSB Bank: The Reserve Bank of India has approved an amendment to dilute the schedule of shareholdings of FIH Mauritius Investments to 26% of the paid-up equity capital of the bank within 15 years from the date of completion of investments instead of 15% as advised by the central bank at the time of approval of the investment proposal of FIHM in 2018.

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Published: 01 Dec 2023, 07:19 AM IST
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