Stocks To Watch: Nazara Tech, Wipro, Aurobindo Pharma, Cipla
The domestic stock indices are likely to trade lower on Monday, taking cues from the global markets. Asian shares were in the red today as Wall Street futures slipped amid future interest rate hike worries by the U.S. Federal Reserve to tame inflation. Trends on SGX Nifty indicated a gap-down opening for the markets back home. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures fell 104.30 points or 0.68 per cent to 15,244.50.
The benchmark BSE Sensex had declined 135 points or 0.26 per cent to settle at an over one-year low of 51,360.42 on Friday, while the broader NSE Nifty had lost 67Â points or 0.44 per cent to end at 15,293.50.
Here Are Stocks To Watch During Today's Session:
Nazara Technologies: Gaming and sports media company Nazara Technologies has decided to make a strategic investment of up to Rs 20.1 crore in material subsidiary Absolute Sports and up to Rs 10 crore in Brandscale Innovations. Also, the company has announced that its board has fixed June 27 as the record date for the proposed bonus issue of shares. "The Authorised Share Capital of the Company is Rs 30 crore divided into 7.50 crore Equity Shares of Face Value of Rs 4 each," Nazara has stated in a notification to the exchanges.
Wipro: Topcoder, a Wipro company has announced the appointment of Doug Hanson as Chief Executive Officer (CEO). Mr Hanson Doug holds a Master's in Business Administration from Purdue University and is based in Portland, Oregon. Topcoder is a crowdsourcing company with an open global community of designers, developers, data scientists, and competitive programmers.
Aurobindo Pharma: Aurobindo would acquire a 51 per cent stake in GLS Pharma, which specialises in oncology and has a manufacturing facility in Hyderabad, for a total consideration of Rs 28.05 crore. Further, the company has a call option to acquire the balance 49 per cent equity shares of GLS, after 3 years but before 5 years from the current acquisition, at a fair value determined at such point in time.
Cipla: Cipla has signed definitive agreements for the acquisition of a 21.05 per cent stake -- on a fully diluted basis -- for an amount of Rs 25 crore in Achira Labs Private Ltd. "This investment will facilitate a Cipla entity's strategic participation in the point of care (PoC) diagnostics and anti-microbial resistance (AMR) space through the design, development, and manufacturing of microfluidics-based technologies," the company has said.
Dilip Buildcon: Dilip Buildcon's joint venture company JV RBL-DBL has been declared the L-1 bidder for the Surat Metro Rail Project in Gujarat for a project cost of Rs 1,061 crore. The company has also received the completion certificate for two road projects in Karnataka.
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