Stocks to watch: Wipro, JM Financials, JSW Energy, NHPC, Zomato, Aavas Fin

Stocks to watch on 06, March, 2024: Wipro is set to acquire a 27 per cent stake in SDVerse LLC, aiming to enhance its leadership in software-defined vehicle and cloud car engineering services.

Amidst an ongoing tepid week at the markets, Wednesday may not be any different for investors. The Equity benchmark indices Sensex and Nifty may see a lower start today as weak global cues may guide investor sentiment. 
 

At 7:00 am, the Gift Nifty futures were down 23 points at 22,410.50 over Nifty futures’ last close. 
 

Markets across Asia-Pacific are seeing the red colour. In Asian markets, Japan’s Nikkei index opened 0.81 per cent lower, while the Topix dropped by 0.44 per cent. 
 

South Korea's Kospi fell by 0.39 per cent, and the small-cap Kosdaq dropped by 0.55 per cent. Hong Kong Hang Seng index futures indicated a potential higher opening at 16,203, surpassing the previous close of 16,162.64.
 

The US market reacted to Apple’s falling sales in China. The Nasdaq Composite declined by 1.65 per cent as technology stocks witnessed significant losses. The Dow Jones Industrial Average experienced a loss of 1.04 per cent, and the S&P 500 dropped by 1.02 per cent.
 

Stocks that may see action today: 

JM Financials: The Reserve Bank of India (RBI) on Tuesday prohibited JM Financial Products from financing against shares and debentures, including sanctioning and disbursing loans against initial public offerings (IPOs) of shares and subscriptions to debentures.

Wipro: The IT services company, is set to acquire a 27 per cent stake in SDVerse LLC, aiming to enhance its leadership in software-defined vehicle and cloud car engineering services. The transaction is anticipated to conclude by the end of March 2024.

JSW Energy: The company has entered into a Battery Energy Storage Purchase Agreement (BESPA) with  Solar Energy Corporation of India Limited (SECI) for its initial 250 MW/500 MWh standalone battery energy storage project.

NHPC: The state-run power company, has initiated the development of the 1,200-MW Jalaun Ultra Renewable Energy Power Park in Jalaun, Uttar Pradesh. The solar park will be undertaken by Bundelkhand Saur Urja, an NHPC subsidiary, with an investment totaling Rs 796.96 crore.

Aavas Financiers: SBI Mutual Fund and Amansa Capital from Singapore infused Rs 1,186 crore into Aavas Financiers following a reduction in stakes by promoter entities in the housing finance company.

Zomato: Antfin Singapore, an affiliate of Alibaba, is set to divest 17.64 crore shares, representing a 2 per cent stake in Zomato. The block deal's floor price has been established at Rs 159.4 per share, reflecting a 3.9 per cent discount from the closing price, CNBCTV18 reported. 

IRCTC: On Tuesday, Swiggy partnered with the Indian Railway Catering and Tourism Corp (IRCTC) to provide pre-ordered meals to travellers at four major railway stations in India. 

Roche Holding: Roche Pharma India has entered the field of ophthalmology with the introduction of Vabysmo (faricimab) designed for addressing neovascular or 'wet' age-related macular degeneration (nAMD) and diabetic macular edema (DME).

Bharti Airtel: The telecom company sanctioned the issuance of 56.8 lakh shares to FCCB holders at a conversion rate of Rs 518 per share.
 

Mahanagar Gas: In response to a decrease in gas input costs, the company has reduced the price of compressed natural gas (CNG) by Rs 2.50 per kilogram in and around Mumbai.

CESC: Crescent Power, a subsidiary of the company, completed the acquisition of a 100 per cent stake in Purvah Green Power.
 

Space Stocks: The government on Tuesday notified the amended FDI norms in the space sector, clearing the deck for 100 per cent overseas investment in making components for satellites, 74 per cent in satellite manufacturing and operations, and 49 per cent in launch vehicles.