Stocks to Watch: Tata Motors, Wipro, Cipla, Bank of India, PSP Projects

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

Tata Motors: The automotive company has announced its plan to increase the prices of commercial vehicles by up to 3%, starting 1 January, 2024. This decision, communicated to the stock exchanges, is intended to counterbalance the impact of rise in the cost of materials.

Wipro: Founder chairman Azim Premji has expressed displeasure about the way the country’s fourth-largest information technology services company is being steered to executive chairman Rishad Premji and chief executive Thierry Delaporte, four people aware of the development told Mint. Meanwhile, Stephanie Trautman has resigned as chief growth Officer of the company.

Cipla: The pharmaceutical company said its subsidiary, InvaGen Pharmaceuticals Inc in the USA, is conducting a voluntary recall of one batch of Vigabatrin for Oral Solution, USP. This recall was initiated due to issues with seal that may cause powder to leak from the pouch, potentially leading to a discrepancy between the actual medicine content in the pack and what is stated on the label.

Adani group companies: The Adani group plans to invest 7 lakh crore over the next decade, aiming to strengthen its leadership in India’s infrastructure sector. Chairman Gautam Adani has highlighted the conglomerate’s ‘green’ initiatives in this investment, through posts on X. This strategic move, spanning various sectors from agriculture to aviation, was detailed in a statement by Adani Energy Solutions to the stock exchange.

Bank of India: The lender recorded a robust demand for its qualified institutional placement (QIP) of shares, with a subscription rate of 4.11 times. The QIP, originally set at a base size of 2,250 crore, also incorporated a greenshoe option of an additional 2,250 crore to accommodate potential oversubscription.

Mazagon Dock has secured a contract valued at 1,145 crore from ONGC to install roughly 44.4 kilometers of underwater pipelines across 19 segments. Meanwhile, SVF Growth (Singapore) Pte, associated with SoftBank, has divested a 1.07% share in the food delivery company Zomato Ltd, fetching 1,127 crore from the sale.

GMR: Following GQG Partners’ acquisition of a 4.7% stake in GMR Airport Infrastructure Ltd. through a bulk deal, the company’s subsidiary, GMR Visakhapatnam International Airport Ltd., secured 3,215 crore in funding. This capital, raised from a consortium of five banks/financial institutions, is allocated for the first phase of development of Bhogapuram International Airport. This financing agreement marks a significant step in the expansion plans of GMR Airport.

PSP Projects: The company said it has secured a construction contract valued at 101.67 crore in Gujarat. This project, expected to be completed in 18 months, involves the construction and subsequent maintenance for four years of the main building of Gujarat Biotechnology Research Centre at GIFT City, Gandhinagar. 

Bharat Petroleum Corporation: Tata Motors subsidiary, Tata Passenger Electric Mobility Ltd. (TPEM), signed a Memorandum of understanding (MoU) with BPCL to install 7,000 electric vehicle (EV) charging points across India by 2024 on 8 December.

IREDA: The state-owned company has launched a new retail division dedicated to offering financing options under the PM-KUSUM scheme, Rooftop Solar, and various other consumer-facing sectors.

 

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Published: 11 Dec 2023, 07:31 AM IST

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