Stocks to watch: Canara Bank, Wipro, Tata Steel, Adani Ports, Wabco, Centrum Capital, CreditAccess Grameen
Asian stocks traded mostly higher on Wednesday, as optimism continued to drive US stocks, with the S&P 500 and Nasdaq reaching record highs overnight.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 43 points at the opening bell. Overseas, Asian stocks traded mostly higher on Wednesday, as optimism continued to drive US stocks, with the S&P 500 and Nasdaq reaching record highs overnight. Here is the list of top stocks that could be in focus on August 25.
Wipro: Wipro announced that it has been awarded a strategic multi-year contract to partner with E.ON in their digital transformation journey in the financial area. Wipro will provide Application Maintenance & Support Services (AMS) for innovative projects on SAP S/4HANA.
Tata Steel: Tata Steel said that Brickwork Ratings has upgraded the ratings for the unsecured NonConvertible Debentures/Bond Issues aggregating Rs 4,000 crore of the company from BWR AA/Stable to BWR AA+/Stable.
Adani Ports: Adani Ports and Special Economic Zone (APSEZ) said the company’s proposal to acquire 10.4% stake for Rs 644.78 crore of Gangavaram Port from the Andhra Pradesh government has received approval from the Andhra Pradesh Maritime Board. The transaction is expected to complete within a month.
CreditAccess Grameen: The company said that the company’s board has considered and approved the issuance of non-convertible debentures aggregating up to Rs 100 crore.
Wabco: ZF International UK (the Promoter Seller) of WABCO India proposes to sell 380,432 equity shares representing 2.01% of the total issued and paid-up equity share capital of the company on August 25, 2021 and on August 26, 2021 through an Offer for Sale. The floor price is Rs 6,900 per share.
Centrum Capital: The company said its board of directors has considered and approved the sale of the entire business of two wholly-owned Material Subsidiaries named Centrum Financial Services Limited and Centrum Microcredit Limited to its proposed step down Subsidiary (proposed Small Finance Bank).
Canara Bank: Ace investor Rakesh Jhunjhunwala has bought a 1.59% stake in Canara Bank, BSE data showed on August 24.