Here are the ten stocks that are likely to be in focus on Monday:
Tata Motors: The automobile company announced its plan to increase the prices of commercial vehicles by up to 3%, starting from January 1, 2024. This decision, communicated to the stock exchanges, aims to counterbalance the impact of the increase in the cost of materials.
Wipro: Founder chairman Azim Premji has expressed displeasure with the way the country’s fourth-largest information technology services company is headed by executive chairman Rishad Premji and chief executive Thierry Delaporte, four people aware of the development told Mint. Meanwhile, Stephanie Trautman has resigned as the company’s Chief Growth Officer.
Cipla: The pharmaceutical company said its subsidiary, InvaGen Pharmaceuticals Inc in the United States, is conducting a voluntary recall of one batch of Vigabatrin for Oral Solution, USP. This recall was initiated due to problems with a seal that can cause powder to leak out of the bag, potentially leading to a difference between the actual drug content in the package 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 emphasized 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 from Adani Energy Solutions to the stock market.
Bank of India: The lender recorded 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 possible oversubscription.
Dock Mazagon secured a contract valued at ₹1,145 crore from ONGC to install about 44.4 kilometers of underwater pipelines across 19 segments. Meanwhile, SVF Growth (Singapore) Pte, associated with SoftBank, divested a 1.07% stake in food delivery company Zomato Ltd, winning ₹1,127 crore from the sale.
GMR: Following the acquisition by GQG Partners of a 4.7% stake in GMR Airport Infrastructure Ltd. through a bulk agreement, the company’s subsidiary, GMR Visakhapatnam International Airport Ltd., secured ₹3,215 crore in funding. This capital, obtained 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 GMR Airport’s expansion plans.
PSP projects: The company said it has secured a construction contract valued at ₹101.67 crore in Gujarat. That project, expected to be completed in 18 months, involves the construction and subsequent maintenance over four years of the main building of Gujarat Biotechnology Research Center 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.
GOING: 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 IST