Friday, June 14, 2024
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HomeNewsStocks to watch: Wipro, Vedanta, HPCL, RIL, Kalpataru Power, Biocon

Stocks to watch: Wipro, Vedanta, HPCL, RIL, Kalpataru Power, Biocon


today: Domestic are likely to start negative in Friday’s trade amid weak global cues. At 7:56 am, the SGX Nifty quoted around 18,405 levels, down over 50-odd points.

Globally, the US witnessed a freefall overnight as Dow Jones, NASDAQ Composite, and the S&P 500 fell up to 3 per cent in trade.

Meanwhile, back home, here’s a list of stocks that may see action in Friday’s trade:

Wipro: The IT services company inked multi-year digital transformation partnership with fintech firm Finastra for corporate banks in the Middle East. With this partnership, the company will be the go-to market to deploy Finastra’s trade finance solutions in the region and transform the way corporate banks operate. READ MORE

Vedanta: A fire broke out in Vedanta’s plant in Bokaro district in Jharkhand, where four workers associated with ESL steel, a group firm were injured. According to reports, all the injured persons who are residents of neighbouring West Bengal, were admitted to the Bokaro General Hospital. The incident took place when the workers were engaged in maintenance work. READ MORE

HPCL: The company aims to raise around Rs 10,000 crore in debt from domestic or overseas market to fund its oil refining and fuel marketing operations. The company said that the borrowing was within the overall borrowing powers of the company.

That apart, separately, the company had raised Rs 750 crore through issue of debentures on private placement basis. READ MORE

Reliance Industries: The fully owned subsidiary of Reliance Retail Ventures, Reliance Consumer Products launched consumer packaged goods brand, Independence in Gujarat. The product portfolio includes includes staples, processed food, and other daily essentials, and was introduced to consumers and kirana partners. READ MORE

Tata Consumer, HUL: As per reports, the top consumer product companies are likely to be in race o acquire Girnar Food & Beverages, the Gujarat-based tea major for Rs 1,000-1,500 crore. However, these discussions are at initial stages. While sources indicated Dabur was also interested in a deal, the company denied this. READ MORE

Biocon: The pharma major initiated a clinical study in collaboration with Equillium Inc to evaluate efficacy of Itolizumab in patients with Ulcerative Colitis. The company said that this is second phase two treatment period study to evaluate the safety and efficacy of Itolizumab for the induction of remission in biologics naive patients with moderate to severely active Ulcerative Colitis (UC).

Ramkrishna Forgings: The board approved proposal to acquire up to 51 per cent stake in TSUYO Manufacturing, a Make-In-India startup company engaged in powertrain solutions for electric vehicles. This proposed investment will help TSUYO enhance its product portfolio and expand its facilities for manufacturing of motors, controllers, e-axles, and differentials.

Kalpataru Power: The company bagged new orders worth Rs 1,397 crore in the transmission and distribution (T&D) segment. The company said that the orders have been secured in India and overseas in the T&D business.

Macrotech Developers: The realty major will invest Rs 330 crore to develop a premium warehousing project in Mumbai as part of its expansion plan and tap rising demand from e-commerce and third-party logistic companies.

Stocks in F&O ban: BHEL, Delta Corporation, GNFC, Indiabulls Housing Finance, IRCTC, and PNB.


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