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Business News/ Markets / Stock Markets/  Stocks to Watch: Wipro, Cummins, Force Motors, Laurus Labs, Indian Bank, Mankind Pharma

Stocks to Watch: Wipro, Cummins, Force Motors, Laurus Labs, Indian Bank, Mankind Pharma

India Cements, Balrampur Chini Mills, Delta Corp, Indiabulls Housing Finance, Hindustan Copper, National Aluminium Company, SAIL, and ZEEL are the eight stocks that are under F&O ban today

Stock markets ended lower on Tuesday, snapping a two-day winning streak. (AP Photo/Andy Wong)Premium
Stock markets ended lower on Tuesday, snapping a two-day winning streak. (AP Photo/Andy Wong)

Following are the ten stocks that are likely to be in focus on Wednesday:

Wipro: The information technology major announced its collaboration with RSA, a general insurance provider. Wipro will assist RSA in its cloud migration efforts. The partnership, set for a three-year duration, aims to create a compliant, secure, and scalable IT infrastructure for RSA. 

Force Motors: The manufacturer of commercial vehicles said it has acquired a 12.21% share in TP Surya Ltd for 2.68 crore, marking its entry into the into the renewable energy sector. TP Surya Ltd, a fully-owned subsidiary of Tata Power Renewable Energy Ltd, operates as a special purpose vehicle (SPV) dedicated to developing ground-mounted solar photovoltaic power projects in Maharashtra.

Axis Bank: Bain Capital, a leading private equity firm, is likely to offload an additional share in Axis Bank through a new block deal valued at $444 million, according to Moneycontrol. Affiliates of Bain Capital are planning to divest a 1.1% stake in the private sector bank through this block deal, with the proposed starting price set at 1,109 per share.

Laurus Labs. The pharma company said its fully-owned subsidiary Laurus Synthesis Private underwent a thorough inspection by the US Food and Drug Administration (FDA) from 4 to 12 December, following which the FDA issued a Form 483 that contained five observation.

Indian Bank: The lender has initiated a share sale to institutional investors, setting the starting price at 414.44 per share. Further specifics regarding the share issue were not disclosed. In August, the bank had sanctioned a plan to raise funds up to 40 billion through a qualified institutions placement (QIP) of its shares.

Cummins India: The power solutions technology provider announced the launch of Data Automated Teller Ultimate Machine, an intelligent fuel management system, in collaboration with Repos Energy, a startup backed by Ratan Tata.

Mankind Pharma: Chrys Capital arm Beige sold 1.79 crore shares in the pharmaceutical firm through open market transactions, amounting to 3,282 crore. Hema CIPEF disposed of 56,26,167 shares at an average rate of 1,832.8 each, and Cairnhill CIPEF sold 69,62,233 shares at an average price of 1,832.3. Meanwhile, Kotak Funds India Midcap Fund acquired 20,29,246 shares at 1,832.30.

Allcargo Terminals: The company said its container freight stations (CFS) saw a year-on-year volume increase of 2% in November, but witnessed a quarter-on-quarter decline of 13%, totaling 47.1 TEUs.

KIOCL: The state-owned company has announced the temporary halt of activities at its pellet manufacturing facility in Mangalore, starting Tuesday due to the lack of available iron-ore fines, which are essential for the plant's functionality. 

Equitas Small Finance Bank: The lender has appointed Ashwini Biswal as its chief compliance office with effect from 28 January, 2024.

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Published: 13 Dec 2023, 07:28 AM IST
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