Stocks To Watch : Wipro, Adani Ports, Cadila Healthcare, Zee Entertainment, Ruchi Soya and More

The Indian market on Monday is expected to open on a flat note- thanks to mixed global cues. The market will behave cautiously as the US Fed is expected to meet this week and more clarity on tapering of asset purchase is expected to come this week. Apart from the US Fed, this week almost 12 banks are going to meet to decide the monetary course of the country. At 0711 hours IST, the Nifty futures on the Singapore Exchange traded 125.50 points, or 125.50 per cent, lower at 17,476, signaling that Dalal Street was headed for a gap-down start on Monday.

Asian shares eased on Monday ahead of a week with no less than a dozen central bank meetings, highlighted by the Federal Reserve which is likely to take another step toward tapering. Holidays in Japan, China and South Korea made for a thin start. Early Monday, MSCI’s broadest index of Asia-Pacific shares outside Japan dipped another 0.2 per cent, after shedding 2.5 per cent last week. Hang Seng fell 2.5 per cent in early trade.

On Friday, the equity benchmarks surged to fresh lifetime peaks on Friday but finished with modest losses, snapping their three-session winning streak, as investors rotated out of RIL, metal and IT stocks at higher levels. After gyrating 866 points during the day, the 30-share BSE Sensex settled 125.27 points or 0.21 per cent lower at 59,015.89. The broader NSE Nifty slipped 44.35 points or 0.25 per cent to close at 17,585.15, after touching an intra-day record of 17,792.95.

Here are some stocks that would be in focus today:

Zee Entertainment Enterprises: The company announced that the BlackRock Inc. on behalf of discretionary management clients picked more than 3.01 lakh equity shares in the company via open market transaction, increasing shareholding to 5.01 per cent from 4.98 per cent earlier.

IRB Infrastructure Developers: Subsidiary IRB Sindhudurg Airport Private Limited has received an Aerodrome licence from the Director-General of Civil Aviation.

Wipro: The IT services major announced the launch of the Wipro-Google Cloud Innovation Arena in Bengaluru to accelerate adoption of cloud.

Poonawalla Fincorp: On Thursday, the Managing director of Poonawalla Fincorp Abhay Bhutada resigned on Thursday, a day after being barred from the securities markets by Sebi for alleged insider trading. Poonawalla Fincorp said in a statement. Vijay Deshwal, CEO of Poonawalla Fincorp, will run the operations, the statement added.
Orissa Minerals Development Company: The company received Stage – II/Final approval of the Ministry of Environment, Forest & Climate Change for diversion of 21.52 hectares of forest land in Uliburu Reserve Forest (including 2.107 hectares of safety zone) for iron ore mining in Bagiaburu iron ore mines in Keonjhar district, Odisha during 3rd RML period.

Cadila Healthcare: Ahmedabad based pharma major Zydus Cadila received final approval from USFDA for Vortioxetine tablets which are used to treat depression.

Adani Ports: The Board of Directors of Adani Ports and Special Economic Zone Limited have given their in-principle approval for issuance of Non-Convertible Debentures for capex/refinancing of existing debt and general corporate purpose for an amount not exceeding INR 10,000 million in one or more tranches on private placement basis.

HLE Glascoat: The company signed definitive agreements to acquire the global business of Thaletec GmbH, Germany as well as its subsidiary Thaletec USA, as a part of its strategy to strengthen its position further in the global markets with innovative technology.

Nazara Technologies: NODWIN Gaming, an independent subsidiary of Nazara Technologies, acquired the Gaming and adjacent IP business of OML Entertainment for Rs 73 crore.

Ruchi Soya Industries: The company announced that the SBICAP Trustee Company released a pledge on the company’s 29.25 crore equity shares (98.87 percent stake) on September 16.