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At close on Wednesday, the BSE Sensex was at 44,655.44, up 506 points, or 1.15% while the Nifty ended at 13,109, up 140 points, or 1.08%. (Photo: Mint)
At close on Wednesday, the BSE Sensex was at 44,655.44, up 506 points, or 1.15% while the Nifty ended at 13,109, up 140 points, or 1.08%. (Photo: Mint)

Stocks to Watch: Tata Group, Bajaj Auto, ICICI Bank, pharma, automobile shares

  • Businesses in India are hopeful of a quicker return to pre-pandemic levels of profitability than most others, and are positive about international trade despite the ongoing protectionism, says HSBC’s annual Navigator survey

New Delhi: Here is the list of top 10 stocks that could be in news on Wednesday:

Auto stocks: Passenger vehicle sales continued its growth momentum for the fourth straight month in November, spurred by festival demand even as market leader Maruti Suzuki India Ltd saw a decline. Wholesales or factory dispatches, reported by eight leading carmakers including Maruti Suzuki, Hyundai Motor India Ltd and Tata Motors Ltd showed industry sales grew 11% last month to 268,111 vehicles from 240,785 vehicles a year earlier.

Tata Group: Is in advanced talks to buy 80% stake in BigBasket for an estimated $1.3 billion, valuing India’s largest online grocer at around $1.6 billion, three people with direct knowledge of the matter said. According to the proposal, the Tata group is likely to buy 50-60% from existing investors, including Chinese retail giant Alibaba, and a few other key investors.

ICICI Bank: The Supreme Court on Tuesday rejected Chanda Kochhar's plea against the Bombay High Court order, which terminated her as the managing director and CEO of ICICI Bank. Kochhar had sought all pensionary benefits, including bonuses and stock options, post her termination.

Bajaj Auto: Is looking to access electric vehicle (EV) technologies through a proposed restructuring of its joint venture (JV) with Pierer Industrie AG in Austrian motorcycle maker KTM AG. The restructuring will see the two companies transfer their respective stakes to a new holding company that will be owned 60% by Pierer Industrie AG and the rest by Bajaj Auto.

Yes Bank: Aims to raise its deposits to 2 trillion by the end of March 2021. The private sector lender is also planning to expand its retail and small and medium enterprises (SME) loan book from 6,800 crore in the September quarter to 10,000 crore by the end of the third quarter.

Pharma stocks: Pfizer Inc. and partner BioNTech SE have sought regulatory clearance for their covid-19 vaccine in Europe, putting the shot on track for a potential approval there before the end of the year. In November, a study of almost 44,000 people showed the shot prevented 95% of symptomatic coronavirus cases. There were no significant safety problems.

Vodafone Idea: On Tuesday raised prices of two Red Family postpaid plans costing 598 and 749 by 50 each, becoming the first of India’s three private telcos to raise tariffs since last December. In October, Vodafone Idea chief executive Ravinder Takkar had said the cash-strapped company would not shy away from raising prices and will set a precedent in the industry.

Phoenix Mills: Leading mall developer Phoenix Mills Ltd has agreed to set up a real estate platform for retail-led mixed-use development with an affiliate of Singapore’s sovereign wealth fund GIC. The transaction comes at a time when shopping malls are slowly returning to normalcy, though footfall and customer sentiment remain low.

Steel stocks: Large steel companies are expected to deliver a blockbuster third quarter on the back of rising steel prices, low input costs, and a recovery in domestic demand. The recovery in economic activity provides the perfect stage for steel manufacturers to report record margins and stage a comeback in the second half of the year, analysts have said.

Wockhardt Ltd: The Indian drugmaker has entered into an agreement with the UK government to supply covid-19 vaccine. Both in the UK and in India, Wockhardt has the capacity to manufacture vaccines, Dr Habil Khorakiwala, founder chairman, Wockhardt, has said.

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