15 stocks in focus in Wednesday’s trade: Wipro, Madhucon Projects and more
The BSE Sensex and NSE Nifty opened on a firm note on Wednesday following above normal monsoon prediction this year amid positive global cues. At 9.26 am, Sensex was trading 308.50 points up at 25,454.09, while NSE Nifty was trading 87.85 points up at 7,796.80.
Below are the 15 stocks that are in focus today
Wipro: Stocks of the company were trading 2.94 per cent up at Rs 584.90 (9.33 am) as country’s third-largest IT services exporter will consider a proposal for buyback of its equity shares at its board meeting on April 20.
Bajaj Corp: Shares of the company were trading 3.07 per cent down at Rs 401.10 (9.34 am) as it has reported a marginal decline in standalone net profit at Rs 54.02 crore for the fourth quarter ended March 31. It had reported a net profit of Rs 54.42 crore in the January-March quarter of 2014-15 fiscal.
Madhucon Projects: Stocks of the company were trading 6.12 per cent up at Rs 56.35 (9.36 am) as the Hyderabad-based infra firm said it has completed the sale of 74 per cent stake in Madhucon Agra-Jaipur Expressways (MAJEL) to Singapore-based Cube Highways and Infrastructure for Rs 248
Ramco systems: Enterprise software provider Ramco Systems has bagged ERP software order from Australia-based GMK Logistics for an “undisclosed sum”. Ramco Logistics Software would automate the manual processes pertaining to key “supply chain operations” by providing modules for better management of warehousing and transportation, freight and fleet, purchase and inventory, a company statement said. Stocks of the company were trading 0.66 per cent down at Rs 112.40 (9.38 am).
Gail India: Two Japanese consortiums have bid for state-owned gas utility GAIL India Ltd’s USD 7 billion tender for hiring nine newly built ships for ferrying LNG from the US.
Axis bank: Axis Bank, the third largest private sector lender, announced a cut in its lending rate by 0.15 per cent to bring it at par with its larger rivals. Announcing its maiden MCLR (Marginal Cost Lending Rate) on March 31, the bank had set the overnight rate at 9.10 per cent, which will be reduced to 8.95 per cent effective April 18, the lender said in a statement today.
Shilpa Medicare: Drug firm Shilpa Medicare has received GMP compliance certificate from the Japanese health regulator, PMDA, for its two active pharmaceutical ingredient (API) plants in Karnataka.
Tata Power: Tata Power said it has commissioned India’s first pre-fabricated 33/11 kV Power Distribution Centre for its consumers in Mumbai.
Reliance Industrial Infrastructure: Reliance Industrial Infrastructure Ltd says March-quarter net profit 27.92 million rupees vs 57.18 mln rupees.
Tata Sponge Iron: The Customs department has imposed a total fine of Rs 33 crore on Tata Sponge Iron over its classification of coal imports.Tata Sponge Iron, a subsidiary of Tata Steel, said it has been meeting its coal requirement through imports.
Larsen & Toubro: Engineering giant Larsen and Toubro (L&T) today said its subsidiary L&T Infotech has filed a fresh draft red herring prospectus (DRHP) with the market regulator Sebi to launch its Initial Public Offer (IPO). The offer would comprise of an offer for sale of up to 17,500,000 equity shares of the subsidiary by L&T Ltd, the company said in a regulatory filing.
Tata Steel: Tata Steel UK Ltd’s signing of an agreement to sell its European long products business to UK-based investment firm Greybull Capital is credit positive for its parent, Tata Steel, Moody’s Investor Service said.
Gail: Two Japanese consortiums have bid for state-owned gas utility GAIL India Ltd’s USD 7 billion tender for hiring nine newly built ships for ferrying LNG from the US.
Nalco: The state-owned aluminium maker Nalco is considering setting up a 5-lakh tonne per annum aluminium plant in Iran through a joint venture (JV). Nalco CMD T K Chand, who was part of the delegation led by Petroleum Minister Dharmendra Pradhan to the Islamic country, met a top Iranian official yesterday and discussed the feasibility of setting up such a plant in the Chabahar Free Trade Zone (FTZ), a senior official said.
JP Assocaites: Infrastructure firm JP Associates has pulled out of the project to set up an electronic chip plant that entailed an investment of about Rs 34,000 crore.