HomeMarket InsiderStocks to watch: Cipla, Axis Bank, PNC Infratech, RailTel, Glenmark Pharma

Stocks to watch: Cipla, Axis Bank, PNC Infratech, RailTel, Glenmark Pharma

Domestic markets are expected to end their four-day losing skid and turn positive on Wednesday, as global confidence improves after the release of in-line US inflation data.

The SGX Nifty was trading at 17,210 points as of 7:00 a.m., up 98 points.

World markets rose slightly overnight as US annual consumer inflation fell to 6% in February. The Dow Jones, NASDAQ Composite, and S&P 500 all gained up to 2%.

Asia-Pacific markets followed suit, with the Nikkei 225, Kospi, Kosdaq, Topix, and S&P 200 indexes all rising by up to 2%.

Meanwhile, here are a few stocks that are anticipated to move on Wednesday:

Cipla has agreed to sell 51.1 percent of its share in Uganda-based Cipla Quality Chemical Industries to Africa Capitalworks (CQCIL). After the sale, CQCIL will no longer be a subsidiary of Cipla. The planned deal is scheduled to close by the end of May.

HCC: The construction business, in collaboration with Megha Engineering & Infrastructures, was awarded a Rs 3,681 crore project for the building of a bullet train station. National High-Speed Rail Corporation Ltd. (NHSRCL) was granted the contract for the building of the Bandra Kurla Complex Station on the Mumbai-Ahmedabad high-speed rail line.

HPCL: The business signed a deal with Chevron Brands International LLC to produce, distribute, and promote the grocery chain’s lubricants. According to the management, the agreement will include the licensing, manufacture, distribution, and marketing of Chevron’s lubricating goods.

CRISIL Ratings has reiterated Axis Bank’s “stable” rating on the private-sector lender’s debt instruments. According to the ratings agency, the bank’s overall ratings reflect its robust capitalization, strong market position, and comfortable resource profile.

PNC Infratech was declared the lowest bidder (L1) in NHAI’s highway project to build a six-lane greenfield Varanasi-Ranchi-Kolkata highway from Pachmon village in Bihar to Anarbansalea village in Bihar on HAM for Rs 1,260 crore.

RailTel Corporation has received a work order for Rs 287.5 crore from the Center for Development of Advanced Computing (C-DAC) for the provision, installation, testing, integration, and commissioning of IT infrastructure in greenfield data centers in New Delhi and Bengaluru.

LIC: The life insurance company said that its executive director, Tablesh Pandey, has been promoted to managing director. Pandey will take over for current managing director B.C. Patnaik.

Glenmark Pharma: The US Food and Drug Administration has approved the pharma giant to offer Clindamycin Hydrochloride Capsules in 75 mg, 150 mg, and 300 mg concentrations.

The NBCC (India): The business received a Rs 500 crore work order to build the government medical college and hospital in Karaikal, Puducherry.

Balu Forge Industries: The firm secured a trial order from a tractor manufacturer in the Middle East to provide powertrain sub-assemblies. These parts will be used to build engines that will power a range of tractors.

News Desk
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