📷 Image Credits: Mint
The Indian stock market is abuzz with activity as several major companies make significant announcements and strategic moves. Here are some of the top highlights of stocks to watch in India:
Union Bank of India: The state-owned bank has approved a proposal to raise ₹10,000 crore, including ₹6,000 crore from a share sale, to fuel its business expansion. The board also green-lighted raising equity capital not exceeding ₹6,000 crore through various methods like a public issue, further public offer, rights issue, or QIP.
HCL Technologies: In a notable development, the IT giant has expanded its collaboration with Deutsche Apotheker- und Ärztebank eG (apoBank), Germany’s largest cooperative primary bank. The new agreement is valued at around USD 278 million and spans a 7.5-year period.
Interglobe Aviation: Co-founder Rahul Bhatia has sold a 2% stake in InterGlobe Aviation, the parent company of IndiGo, in a block trade. The transaction involved 7.72 million shares of InterGlobe Aviation, representing nearly 2% of the total shares, for over ₹3,360 crore.
State Bank of India: The lender’s board has given the nod to raise $3 billion through debt in FY25. The funds will be raised in one or more tranches via a public offer or private placement of senior unsecured notes in dollars or other major foreign currencies.
Wipro: The company has introduced its Lab45 artificial intelligence (AI) platform, utilizing generative AI (GenAI), machine learning (ML), and deep learning technologies to enhance efficiencies for companies and offer industry-specific solutions. This platform, available through Wipro’s innovation lab, aims to benefit both employees and clients.
Tube Investments of India: The company, along with its subsidiary TI Clean Mobility, has inked definitive agreements with GEF to facilitate an additional subscription for compulsorily convertible preference shares worth ₹160 crore in TICMPL. These strategic moves and developments in various sectors highlight the dynamic landscape of the Indian stock market, showcasing the growth potential and opportunities for investors.
