Wipro, Cummins, Force Motors, Allcargo Terminals: Stocks to watch on Wednesday
Stocks to watch on Wednesday: Cummins India launched DATUM (Data Automated Teller Ultimate Machine), an intelligent Fuel Management System, in collaboration with Repos Energy.
Stocks to watch on Wednesday: At 08:16 AM, GIFT Nifty traded points, or 0.02 per cent lower at 21,067.5, indicating a muted start for domestic equities on December 13, Wednesday.
The Nifty 50 benchmark finished lower on Tuesday, December 12, after registering a fresh high of 21,037.90 during early trade. The domestic blue-chip indices were dragged by oil and gas, financial, and construction stocks. Nifty 50 gave up 90.7 points, or 0.43 per cent, to end at 20,906.4, while BSE Sensex finished with a cut of 377.5 points, or 0.54 per cent, at 69,551.03.
High beta Nifty Bank closed 0.46 per cent lower, while Nifty IT ended flat, down 0.06 per cent.
Here are some stocks that will be in focus on Wednesday, December 13:
Cummins India:
The company on Tuesday launched DATUM (Data Automated Teller Ultimate Machine), an intelligent Fuel Management System, in collaboration with Repos Energy.
Cummins will market and distribute the DATUM range of products through its vast distribution network in India.
Force Motors:
The company will acquire 12.21 per cent shares in TP Surya Limited, a subsidiary of Tata Power Renewable Energy. The cost of acquisition stands at Rs 2,68,74,210.
Wipro:
The company inked an agreement with RSA to help accelerate RSA’s migration to the cloud and build a compliant, secure, and scalable IT infrastructure.
Niraj Cement Structurals:
The company on Tuesday bagged an order for the upgradation of roads and drainage systems outside a custom-bound area at JN Port, Navi Mumbai. The order is valued at Rs. 210.98 crore, excluding Goods and Services Tax (GST).
KIOCL:
The company's operation of the Pellet Plant unit at Mangalore has been temporarily suspended with effect from December 12, 2023. The reason mentioned for the suspension is the non-availability of iron ore fines.
Integra Essential:
The company will acquire an additional stake in Brewtus Beverages Private Limited (BBPL). After the additional stake, it will hold about 51 per cent of BBPL and make it a subsidiary.
Chembond Chemicals:
The company, in a board meeting on Tuesday, made the following decisions:
-Demerger of the construction chemicals and water technologies businesses.
-Amalgamation of Chembond Material Technologies Private Limited, Phiroze Sethna Private Limited, and Gramos Chemicals (India) Private Limited.
Allcargo Terminals:
In its November update, the company said that Container Freight Stations (CFS) volumes increased 2 per cent year-on-year (YoY) but declined 13 per cent quarter-on-quarter (QoQ) at 47.1 TEUs.
NMDC/NLC India:
As per sources, it is known that in the upcoming budget critical minerals may get a boost through the withdrawal of custom duty. At present, there is a levy of 5-10 per cent custom duty on critical minerals.
Axis Bank:
There is expected a block deal worth Rs 3700 crore in the counter. Entities associated with Bain Capital are likely to offload 1.1 per cent stake or 3.34 crore equity shares in the private lender.
Indian Bank:
The public sector bank launched its QIP on the previous day at a floor price of Rs 414.44 per share. This is at a discount of 5.2 per cent as compared to the current market price. The company's board will meet to decide on the issue price on December 15.
Laurus Labs:
The US FDA inspected the company's subsidiary Laurus Synthesis and issued Form 483 with 5 observations.
ITC:
The tobacco-to-hotel major in its analysts meet informed that the company is focussed on the FMCG segment. The company's expects an increase in EBITDA margin by 80-100 bps. Also, for the cigarette space, the company holds a positive outlook in the medium to long term.
KPIT Technologies:
The company has launched the sodium ion battery technology which shall reduced the cost of EV batteries by 25 to 30%.
Mankind Pharma:
Kotak Funds India Midcap Fund bought 20.29 lakh shares at 1,832.30/ share in the counter in a block deal that was executed on Tuesday.
Zee Entertainment:
Plutus Wealth Management bought 90 lakh shares (0.9%) at Rs 292.34/ share
Karur Vysya Bank:
SBI Mutual Fund bought 1.2 crore shares (1.5%) at Rs 162/ Share
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