Top 10 Stocks To Watch Today: From Wipro, TCS, Maruti To Lupin

In the trading session of Wednesday, here are the top 10 stocks that are likely to be in focus today and some price actions are also expected to be witnessed.

TCS

Tata Consultancy Services (TCS) has been positioned as a leader on Tuesday in the Gartner Magic Quadrant for Data Center Outsourcing (DCO) and Hybrid Infrastructure Managed Services, worldwide. "Enterprises are modernizing their digital infrastructure to manage the proliferation of data, meet the intensive computing demands of technologies like AI, and address the rising global focus on sustainability.

TCS' cognitive-powered hybrid IT infrastructure approach helps customers build an intelligent, agile, scalable, secure and sustainable digital core," said Ashok Pai, Global Head, Enterprise Cognitive Business Operations, TCS. "We believe our position as a Leader in this report for the third time is a reflection of our breadth and depth of cloud expertise, deep domain knowledge, strong partnerships with the hyperscalers and our portfolio of intellectual property on the cloud," said Ashok Pai.

Maruti Suzuki

Arnab Roy has been named Chief Financial Officer (CFO) of Maruti Suzuki India Ltd with effect from January 1, 2024 on Tuesday. Arnab Roy will join the firm as CFO-Designate with effect from October 16, 2023, and as a whole-time CFO of the company from January 2024, according to the company's exchange filing. In order to increase its production capacity from the current 2.25 million units to 4 million units over the course of the next seven years, Maruti Suzuki would also invest Rs 45,000 crore.

Suryoday Small Finance Bank

On Tuesday, August 29, 2023 Mr. Baskar Babu Ramachandran, the promoter and Managing Director & CEO of the bank sold a total of 9,50,000 equity shares for approximately Rs. 17.19 Crores towards the part settlement of his existing loans availed by him for exercising warrants in order to maintain the promoter's stake at the minimum of 26% for the first five years (i.e. upto 22-Jan-2022).

He still holds 53,51,911 shares amounting to 5.04% after the aforementioned sale, of which 53,40,000 shares are pledged. Post this transaction, the total promoter group holding is 2,37,84,732 equity shares amounting to 22.40% of which the pledged shareholding is 5.03% of the total shares outstanding, according to a regulatory filing.

Lupin

Lupin Pharma Canada Ltd., a wholly-owned subsidiary of Lupin Ltd on Tuesday announced the launch of Propranolol LA (long-acting) capsules, 60 mg, 80 mg, 120 mg and 160 mg, in Canada.

"We are delighted to announce the launch of Propranolol LA capsules for patients in Canada. We have diligently worked to build our portfolio to include Propranolol LA ensuring patients have access to the essential medicines. This launch signifies our commitment to fostering healthcare solutions that truly make a difference," said Dr. Sofia Mumtaz, President - Legal, Canada, Australia, and Japan, Lupin.

IndiaMART InterMESH

The company has announced offer for buyback of 12,50,000 equity shares of the face value of Rs. 10/- each not exceeding Rs. 500 Crores by the way of tender offer, on a proportionate basis. The offer will open on August 31, 2023 and will close on September 6, 2023. The buyback price has been fixed at Rs 4000 and the record date for the action was Friday, August 25, 2023.

Central Bank of India

The bank has entered into a strategic co-lending partnership with M/s. Samunnati Financial Intermediation & Services Private Limited to offer agriculture and MSME loans at competitive rates. According to the agreement, M/s. Samunnati Financial Intermediation & Services Private Limited will originate and process loan proposals for the agriculture and MSME sectors in accordance with jointly established credit parameters and eligibility criteria, and the Central Bank of India will record 80% of the loans for these sectors under terms that are mutually beneficial. The loan account will be serviced by M/s. Samunnati Financial Intermediation & Services Private Limited for the duration of the loan's term.
Central Bank of India has entered into a strategic co-lending partnership with M/s. IKF Finance Limited to offer MSME Loans.

Cyient DLM

Cyient DLM announced that it has been awarded the Supplier Excellence Award by Honeywell Aerospace. "We are honoured to receive the Supplier Excellence Award from Honeywell Aerospace. This recognition underscores our dedication to excellence, innovation, and close collaboration with our partners. By actively engaging in the early phases of product development, we can better understand and address the unique challenges of the aerospace industry, ultimately delivering superior solutions", said Ram Dornala, COO, Cyient DLM on receiving this award.

Mindspace Business Parks REIT

Mindspace Business Parks REIT has announced the establishment of a first-of-its-kind Bio-Sonification Zone in its Business Park at Mindspace, Airoli West (Mumbai Region). The Company said in a statement, "We are firmly committed to driving holistic value for the environment and communities, by integrating an ESG-led approach into business. The implementation of the Bio-Sonification zone at our campus is another initiative towards delivering enduring experiences and is an innovative route towards promoting health and wellbeing for tenants. This initiative weaves seamlessly with our larger endeavor of shaping world class business districts, while creating responsibly built, engaging, community-based ecosystems."

MPS

MPS Interactive Systems Limited, a wholly owned subsidiary of MPS Limited, announced that it has agreed to acquire 65% of the issued and paid-up capital of all the following entities i.e. Liberate Learning Pty Ltd (Australia), Liberate eLearning Pty Ltd (Australia), App-eLearn Pty Ltd (Australia), and Liberate Learning Limited (New Zealand) (here-in-after referred to as "Liberate Group"). T

"The remaining 35% shareholding of each of the entities of the Liberate Group will be acquired by MPSi in subsequent tranches based upon valuation methodology as agreed under the transaction documents," said the company in a stock exchange filing.

Wipro

As part of its plan to introduce Wipro Cares to Brazil, Wipro Limited said that it has joined hands with Amigos do Bem. Wipro Cares collaborated with Amigos do Bem to provide almost 1,000 food baskets to needy communities in more than 95 villages in the states of Alagoas, Ceará, and Pernambuco. This marked the organization's debut project in Brazil.