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Market Commentary - Stock Alert
Wipro, Axis Bank, Laurus Labs, Force Motors in focus As on : 13-Dec-23 08:53
Wipro: Wipro announced that it has entered into a new agreement with RSA, one of the world?s leading general insurance companies. Wipro will help accelerate RSA?s migration to the cloud and build a compliant, secure, and scalable IT infrastructure.
Axis Bank: Private equity major Bain Capital may sell a further stake in the private sector lender via a fresh block deal worth $444 million, as per reports. Entities associated with Bain Capital are looking to sell a 1.1% stake via a block deal in Axis Bank, and the offer floor price is Rs 1,109 per share, as per reports.
Laurus Labs: Laurus Synthesis Private Limited (LSPL), a wholly owned subsidiary of Laurus Labs underwent US FDA inspection for the manufacturing facility in Parawada, Anakapalli, near Visakhapatnam, Andhra Pradesh. The inspection was conducted from 4th December 2023 to 12th December 2023. The company has been issued a Form 483 with five observations and it will address the observations within stipulated timelines.
Force Motors: The Board of Directors has considered and approved to acquire 12.21% shares of TP Surya Limited, a wholly owned subsidiary of Tata Power Renewable Energy Limited, in respect of procurement of Solar Power from a specific Solar Plant, to be established by TP Surya Limited in Maharashtra under Open Access Mode subject to closing adjustments.
Cummins India: Cummins India announced the launch of DATUM (Data Automated Teller Ultimate Machine), an intelligent Fuel Management System, in collaboration with Repos Energy at CII EXCON 2023, at Bengaluru International Exhibition Centre (BIEC). As a part of the collaboration, Cummins will market and distribute the DATUM range of products through its vast distribution network in India.
KIOCL: The operations of Pellet Plant Unit of the company at Mangalore have been temporarily suspended with effect from 12 December 2023 due to non-availability of iron ore fines.
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