Stocks To Watch: SGX Nifty50 fell 1.2 percent to 16,853 as of 6:42 am on Thursday hinting at a negative opening for key Indian indices. Among key stocks to watch out for in trade today, are Indus Towers, Vedanta, Sun Pharma, Wipro and Piramal Enterprises. Here is a list of stocks that might see action today:
Wipro | The technology major said it has joined the global partnership network of o9 Solutions.
Indus Towers | Vodafone PLC is expected to sell 2.4 percent stake in the company worth $200 million. The stake sale will take place through a block deal today and offer range is Rs 227-231 per share, which is up to 10 percent discount to current market price. The offer size is about Rs 1,440 crore.
Federal-Mogul Goetze | Pegasus Holdings will buy a 25.02 percent stake in Federal-Mogul Goetze through Open Offer.
Sun Pharmaceutical Industries | The company will acquire anti-acne brand Alchemee for $90 million.
Vedanta | The company's Board of Directors on March 02, 2022, will consider and approve Third Interim Dividend on equity shares, if any, for the Financial Year 2021-22.
L&T Finance Holdings | Citigroup Global Markets Mauritius & CBNA London has offloaded a 4.88 percent equity stake in the company through open market transactions on February 21. With this, their shareholding stands at 3.87 percent now, down from 8.75 percent earlier.
Sanofi India | The final dividend of Rs 181 per equity share for the year ended December 2021 has been approved by the board of directors. In addition, the firm has also declared a special dividend of Rs 309 per share for the year. The decision of special dividend has been taken especially after the selling of nutraceuticals business during the year. Also, the net profit declined 26.5 percent YoY to Rs 90.4 crore for the quarter ended December 2021, and revenue during the same period fell 4.5 percent to Rs 688 crore YoY.
Forbes & Company | The firm said the board has given its approval for a binding term sheet for the sale of the company's entire shareholding in subsidiary Forbes Facility Services to SILA Solutions. The said transaction of Rs 42 crore is expected to be completed by the first quarter of FY23. Further, there would be termination of its Joint Venture agreement with Sterling Investment Corporation, G S Enterprises in relation to Shapoorji Pallonji Forbes Shipping (SPFSL), but the company would continue to hold 25 percent equity and preference share capital in SPFSL. The termination is taking place with mutual consent.
Piramal Enterprises | The firm said the Committee of the Board of Directors on February 28 will consider the fundraising by the issue of non-convertible debentures up to Rs 100 crore along with an option to retain oversubscription up to Rs 400 crore. With this, the total fundraising via NCDs would be Rs 500 crore on a private placement basis.
SKF India | Anurag Bhagania has resigned from the position of chief financial officer.