Stocks to Watch: Wipro, Laurus Labs, Axis Bank, SRF, KIOCL, CGDs, BoB

Stocks to Watch on December 13, 2023: PE giant Bain Capital is likely to sell up to 1.1 per cent stake in Axis Bank via a block deal, reported Moneycontrol

Stocks to Watch Today: Equity benchmark indices Sensex and Nifty are looking to start higher on Wednesday as investors assess the 5.5 per cent inflation growth back home in November and the 3.1 per cent rate in the US. 

At 7:30 am, the Gift Nifty futures were up nearly 50 pts at 21,078 over Nifty futures’ last close.

The Dow and S&P 500 rose 0.48 per cent and 0.46 per cent, respectively, overnight while the Nasdaq Composite gained 0.70 per cent. 

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Asian stocks were mixed ahead of US Fed rate outcome later tonight. Japan’s Nikkei rose 0.5 per cent. Australia’s S&P/ASX 200 was up 0.3 per cent. Kopsi in South Korea and Hang Seng in Hong Kong fell up to 0.6 per cent. 

Meanwhile, here are some stocks to watch out in trade today: 

Wipro: It signed a new agreement with one of the world's leading general insurance companies, RSA to help accelerate the insurer’s migration to the cloud and build a scalable IT infrastructure. 

Axis Bank: As per Moneycontrol, private equity giant Bain Capital is likely to sell a further stake in the lender via a fresh block deal worth $444 million today. Entities associated with Bain Capital are looking to sell a 1.1 per cent stake.

Laurus Labs: Laurus Synthesis, a wholly owned subsidiary of Laurus Labs, has been issued a Form 483 with five observations after the US FDA inspected its manufacturing facility in Parawada, Anakapalli, near Visakhapatnam between Dec 4-12. 

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SRF: The company said two of the four new plants have been commissioned and capitalized at an aggregate cost of Rs 225 crore. This relates to its earlier announcement of capital expenditure to set up four plants and capacity enhancement of an existing plant at an estimated cost of Rs 604 crore.

CGDs: Gas companies have told the govt they are wary of committing investments without knowing the time period in which natural gas will be offered a free play in the economy. Read

Bank of Baroda: The bank's capital raising committee will meet on Dec 15 to consider fundraising.

KIOCL: The company has temporarily suspended operations at its Mangalore plant due to the non-availability of iron-ore fines.

Indian Bank: The public sector lender has launched a qualified institution placement (QIP) issue at a floor price of Rs 414.44 per share. The issue price will be fixed on Dec 15.   

Shilpa Medicare: Shilpa Medicare's Unit VI, Bengaluru has received approval from TGA, Australia to manufacture medicinal oral mouth dissolving films (wafers). This approval will enable the company to secure approval and market its oral film products in Australia.

Force Motors: The firm's board has approved a plan to acquire 12.2 per cent stake in TP Surya, a wholly owned subsidiary of Tata Power Renewable Energy, to procure solar power from a specific solar plant, which will be established by TP Surya under Open Access Mode. 

Jammu & Kashmir Bank: The bank's board meeting will be held on Dec 14 to consider fundraising. 

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Orient Green Power: The company's board will meet on Dec 15 to consider raising funds. 

Cummins India: The company in collaboration with Repos Energy has launched DATUM, an innovative fuel management system for diesel applications. 

Paul Merchants: The board will meet on Dec 20 to consider and approve bonus share issue in the ratio of 2:1.

Zydus Wellness: The company's arm, Heinz India, has received an assessment order worth Rs 5.66 crore from the Punjab Tax Authority for FY16–17.