Following are the top ten stocks that could be in focus on Wednesday:
Union Bank of India: The state-owned bank’s board has approved a proposal to raise ₹10,000 crore, including ₹6,000 crore from a share sale, to fund its business growth. The board also approved raising equity capital not exceeding ₹6,000 crore in tranches through a public issue—a further public offer, rights issue, or QIP.
HCL Technologies: The IT company has broadened its collaboration with Deutsche Apotheker- und Ärztebank eG (apoBank), Germany’s largest cooperative primary bank. The new agreement is valued at approximately USD 278 million and spans a period of 7.5 years.
Interglobe Aviation: IndiGo co-founder Rahul Bhatia has sold a 2% stake in InterGlobe Aviation, the parent company of IndiGo, in a block trade. As part of the transaction, 7.72 million shares of InterGlobe Aviation, representing nearly 2% of IndiGo’s total share capital, were sold through a block trade on behalf of Bhatia’s InterGlobe Enterprises Pvt Ltd. The deal is estimated at over ₹3,360 crore.
State Bank of India. The lender’s board has approved a proposal to raise $3 billion via debt in FY25. The funds will be raised in one or more tranches through a public offer or a private placement of senior unsecured notes in dollar or any other major foreign currency.
Tube Investments of India: The company and its subsidiary, TI Clean Mobility, have entered into definitive agreements with South Asia Growth Invest III LLC and South Asia EBT Trust III (collectively known as GEF) to facilitate an additional subscription for compulsorily convertible preference shares amounting to ₹160 crore in TICMPL.
Wipro: The company has launched its Lab45 artificial intelligence (AI) platform, which uses generative AI (GenAI), machine learning (ML), and deep learning technologies to help companies increase efficiencies, transform business functions, and enable industry-specific solutions. Lab45, Wipro’s innovation lab, makes the Lab45 AI platform available to all Wipro employees and clients.
Tata Consultancy Service: The IT major has launched a new Gen AI platform called WisdomNext, which aggregates multiple generative artificial intelligence models into a single interface. TCS stated that WisdomNext allows for real-time experimentation across vendor, internal, and open-source LLM models.
BL Kashyap and Sons: The company has secured two significant orders from DLF City and Sattva Homes, totaling approximately ₹1,021 crore. This brings the company’s order book, excluding GST, to ₹3,545 crore.
TVS Supply Chain Solutions: The company has entered into a five-year contract with Daimler Truck South East Asia Pte. Ltd for Integrated Supply Chain Solutions (ISCS) services in Singapore. Under the deal, TVS SCS will create logistics solution for distributing spare parts and related items, streamline supply chain operations, manage 8,000 SKUs and 65,000 order lines annually, and ensure smooth transportation across multiple modes.
NHPC: The company said the board of its joint venture, National High Power Test Laboratory Pvt Ltd (NHPTL), has approved a proposal to transfer its 1.31 crore equity shares to Power Grid Corp. Following the transaction, NHPC’s equity holding in NHPTL will decrease from 20% to 12.50%, resulting in NHPTL ceasing to be an associate company of NHPC Ltd.
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Published: 12 Jun 2024, 07:27 AM IST