 "Stocks to Watch today: TCS, Strides, Aurobindo, Jio Financial, Titan, BoB")
Stocks to Watch on Wednesday, November 22, 2023: The market may exhibit tepid trade today amid subdued cues from the overseas peers.
At 07:30 AM, Gift Nifty futures quoted at 19,830 as against the NSE Nifty50 close of 19,783 yesterday.
Overnight, the US market snapped its five-day winning run amid weakness in technology shares. Further, the US FOMC minutes revealed that officials agreed to take a cautious approach to raising interest rates going forward.
Near home, Nikkei was up 0.4 per cent, while Kospi and Taiwan declined 0.5 0.5 per cent.
Meanwhile, here are the stocks that are likely to be in focus on Wednesday.
TCS: Likely to take a hit of $125 million in Q3, after the Supreme Court of the United States confirmed punitive damages of $140 million against TCS in the Epic Systems Corporation case. READ MORE
Maruti: Company's board to meet on November 24 to consider allotment of 12.32 lakh equity shares on a preferential basis to Suzuki Motor Corporation.
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Titan: Received approval from the Competition Commission of India for acquisition of stake in CaratLane. Earlier in August 2023, Titan announced its plan to buy 27.18 per cent stake in CaratLane.
Jio Financial Services: Submitted an application to the Reserve Bank of India (RBI) for conversion of the company from Non-Banking Financial Company (NBFC) to Core Investment Company (CIC).
Aurobindo Pharma: The company's US-based step-down arm Evive Biotech, a global biopharmaceutical company, received the US FDA approval of Ryzneuta (Efbemalenograstim alfa Injection) for Chemotherapy-Induced Neutropenia (CIN).
Bank of Baroda (BoB): Life Insurance Corporation of India (LIC) has increased its stake in the bank from 4.98 per cent to 5.03 per cent.
Strides Pharma: The company’s wholly-owned Singapore-based subsidiary, Strides Pharma Global, received approval from the US FDA for Levetiracetam Oral Solution USP, 100 mg/mL. This generic drug is taken after the partial onset of seizures. READ MORE
Stocks in F&O ban today: BHEL, Chambal Fertilizers, Delta Corp, Hind Copper, Indiabulls Housing Finance, India Cements, Manappuram Finance, MCX, NMDC, RBL Bank and Zee Entertainment are in futures & options ban period on Wednesday.