Stocks to Watch: Maruti, Titan, TCS, Reliance, Texmaco Rail

Maruti Suzuki India: The automobile major said the board of directors will meet on 24 November to consider allotting 1,23,22,514 equity shares of the company to Suzuki Motor Corporation on a preferential basis.

Titan Company: The Competition Commission of India has approved Titan’s acquisition of an additional 27.18% stake in CaratLane Trading. Titan will acquire the shares from Mithun Padam Sacheti, Siddhartha Padam Sacheti and Padamchand Sacheti.

Wipro: The company announced a collaboration with Nvidia to help healthcare companies accelerate the adoption of generative artificial intelligence through AI-driven strategies, products and services.

TCS: The US Supreme Court has rejected the company’s petition to file an appeal against the orders passed by the US Court of Appeals in the Epic Systems Corporation matter. It confirmed the punitive damages award of $140 million passed by the District Court of Wisconsin. With this, the company intends to make the balance provision of about $125 million in its financial statements as an exceptional item for the third quarter and the nine months to December 2023.

Bank of Baroda: Life Insurance Corporation of India has increased its stake in the public-sector bank to over 5%. LIC bought 24.39 lakh shares of the bank, taking its total stake from 4.984% to 5.031%.

Reliance Industries: Chairman and managing director Mukesh Ambani said at the Bengal Global Business Summit that the company plans to invest ₹20,000 crore in West Bengal over the next three years. It is also planning to build a compressed biogas plant in the state.

Texmaco Rail: The company launched its qualified institutions placement (QIP) issue on 21 November to raise ₹750 crore, including a green shoe option of ₹200 crore. The floor price for the issue has been fixed at ₹135.90 a share. The company plans to use the proceeds for capex, repayments, and as working capital.

Adani Enterprises: Adani Defence Systems and Technologies has signed a pact with Elbit Systems, Israel, which will pick up a 44% stake in Atharva Advanced Systems.

BPCL: The company will consider an interim dividend at its board meeting on 29 November.