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Business News/ Markets / Stock Markets/  Stocks to Watch: TCS, Bajaj Finance, Dabur India, ONGC, Cipla, Vedanta
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Stocks to Watch: TCS, Bajaj Finance, Dabur India, ONGC, Cipla, Vedanta

FIIs snapped their selling streak on Wednesday US inflation eased in October, leading to a significant decline in US 1-year bond yields. The DIIs won the tug of war and remained net buyers in the first 15 days of the month.

Stocks to Watch for ThursdayPremium
Stocks to Watch for Thursday

Here are the top stocks that could be in focus in today's trade:

TCS: Tata Consultancy Services (TCS) fixed the record date for its 17,000 crore share buyback plan on 25 November, the company said in its stock exchange filing on Wednesday. The IT major, on October 11, had announced to buyback up to 4,09,63,855 fully paid-up equity shares of face value of 1 each at 4,150 per equity share for an amount equivalent to 17,000 crore. The fifth share buyback of the Tata group company in the last six years, will represent 1.12% of the total paid-up equity share capital, at 4,150 per equity share.

Bajaj Finance: The Reserve Bank on Wednesday directed Bajaj Finance to stop sanction and disbursal of loans under its two lending products eCOM and Insta EMI Card, with immediate effect. "This action is necessitated due to non-adherence of the company to the extant provisions of Digital lending guidelines of the Reserve Bank of India, particularly non-issuance of Key Fact Statements to the borrowers under these two lending product," RBI said in a statement.

Dabur India: In a relief to FMCG major Dabur, two of its foreign subsidiaries, Dabur International and Dermoviva Skin Essentials, have been removed as a defendant in multiple lawsuits filed in a US court over allegations that their hair-relaxer products caused ovarian cancer, uterine cancer and other related health issues. However, lawsuits filed against its third international subsidiary Namaste Laboratories LLC, would continue.

ONGC: India's top oil and gas producer ONGC plans to invest about 1 lakh crore in setting up two petrochemical plants to convert crude oil directly into high-value chemical products as it prepares for energy transition, top company officials said on Wednesday. Petrochemicals are chemical products derived from crude oil and used in the manufacturing of detergents, fibres (polyester, nylon, acrylic etc.), polythene and other man-made plastics.

Cipla: Drug firm Cipla on Wednesday said its subsidiaries have completed the sale of a 51.18 per cent stake in Uganda-based Cipla Quality Chemical Industries Ltd (CQCIL). Cipla (EU) Ltd, UK and Meditab Holdings Ltd, Mauritius, the wholly-owned subsidiaries of the company, have completed the stake sale on November 14 for final consideration of USD 25 million, the Mumbai-based company said in a regulatory filing.

Vedanta: Vedanta group on Wednesday said in Saudi Arabia it has set up a new copper unit through subsidiary Malco Energy Limited for SAR (saudi riyal) 1,00,000. The new unit has been named as Vedanta Copper International VCI Company Limited, the company said in an exchange filing. In September, Vedanta’s board had approved a plan to split the business into six separate listed entities.

Gland Pharma: Gland Pharma on Wednesday said it has received approval from the US health regulator to market a generic product used to raise blood pressure. The Hyderabad-based company has received tentative approval from the US Food and Drug Administration (USFDA) for Angiotensin II Injection, 2.5 mg/mL Single Dose Vial, it said in a regulatory filing.

Suzlon Energy: Renewable energy solution provider Suzlon Group on Wednesday announced the listing of its S144 – 3 MW series of wind turbines in the Ministry of New & Renewable Energy's 'Revised List of Models & Manufacturers' (RLMM). "This is an important milestone required for successful commercialisation of the product," the company said in a statement. The company announced the RLMM listing of its S144 – 3 MW series of wind turbines, which are extendable to 3.15 MW, it added.

Ramkrishna Forgings: Leading forgoing company, Ramkrishna Forgings Ltd, on Wednesday announced that it has raised 1,000 crore through a qualified institutional placement (QIP) of its equity shares. The Kolkata-based company, in a statement, said it has approved the allotment of over 1.62 crore equity shares of face value of 2 at an issue price of 614 apiece. The first-ever QIP of the company witnessed a strong response from marquee domestic and foreign institutional investors, it said.

UCO Bank: State-owned UCO Bank on Wednesday said the bank faced some technical issues due to which some accounts received erroneous credits. The financial impact due to this is yet to be ascertained, UCO Bank said in a regulatory filing. The bank, as a precautionary measure, has made the IMPS channel offline and is working closely with the stakeholders to resolve the issue and restore the IMPS services at the earliest, it said.

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Published: 16 Nov 2023, 07:25 AM IST
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