The 10 stocks likely to be watched on Wednesday are as follows:
Wipro:
The information technology behemoth formed a partnership with RSA, a general insurance provider. Wipro will support RSA’s cloud migration initiatives. The three-year cooperation intends to build a compliant, secure, and scalable IT infrastructure for RSA.
Force Motors:
The commercial vehicle maker announced the purchase of a 12.21% stake in TP Surya Ltd for 2.68 crore, marking its foray into the renewable energy industry. TP Surya Ltd, a wholly owned subsidiary of Tata Power Renewable Energy Ltd, operates in Maharashtra as a special purpose vehicle (SPV) focused to the development of ground-mounted solar photovoltaic power plants.
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Axis Bank:
According to Moneycontrol, Bain Capital, a renowned private equity company, is expected to sell an additional part in Axis Bank through a fresh block sale valued at $444 million. Bain Capital affiliates intend to sell a 1.1% interest in the private sector bank in this block offer, with a planned beginning price of $1,109 per share.
Laurus Labs
The pharma business stated that its wholly owned subsidiary Laurus Synthesis Private was subjected to a comprehensive examination by the US Food and Drug Administration (FDA) from December 4 to 12, following which the FDA issued a Form 483 with five observations.
Indian Bank:
The lender has begun selling shares to institutional investors, with a starting price of $414.44 per share. Further details about the share offering were not provided. The bank approved a proposal in August to raise up to $40 billion through a qualified institution placement (QIP) of its shares.
Cummins India:
In conjunction with Repos Energy, a company financed by Ratan Tata, the power solutions technology provider announced the debut of Data Automated Teller Ultimate Machine, an intelligent fuel management system.
Mankind Pharma:
Beige, a subsidiary of Chrys Capital, sold 1.79 crore shares in the pharmaceutical business in open market transactions for Rs 3,282 crore. Cairnhill CIPEF sold 69,62,233 shares at an average price of 1,832.3, while Hema CIPEF sold 56,26,167 shares at an average price of 1,832.8. Meanwhile, Kotak Funds India Midcap Fund paid 1,832.30 for 20,29,246 shares.
Allcargo Terminals:
The firm reported a 2% year-on-year growth in volume at its container freight stations (CFS) in November, but a 13% quarter-on-quarter reduction, totaling 47.1 TEUs.
KIOCL:
The state-owned business has declared a temporary suspension in operations at its Mangalore pellet manufacturing facility beginning Tuesday owing to a lack of sufficient iron-ore fines, which are required for the plant’s operation.
Equitas Small Finance Bank:
Since January 28, 2024, the lender has named Ashwini Biswal its chief compliance officer.
