Stocks to Watch: Lupin, Vi, Tech M, Bharti Airtel, Aditya Birla Capital

Stocks to Watch on June 27, 2023: Lupin: As per reports, Lupin is considering a restructuring move to unlock value by demerging its API (active pharmaceutical ingredients) business

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Harshita Singh New Delhi
The benchmark Sensex and Nifty indices are looking to start a slighlty positive open. At 7:30 am, the SGX Nifty was up 30 odd points at 18,734. 

Globally, the US markets inched lower overnight dragged by tech stocks. Dow Jones closed flat, while the S&P 500 declined 0.4 per cent, and the NASDAQ Composite skid 1.1 per cent.

Markets in Asia-Pacific, however, traded mixed in Tuesday's early trade. Nikkei 225, Topix, Kospi indices fell up to 0.4 per cent. Australia's S&P 200 bucked the trend with 0.2 per cent gains.

Meanwhile, here are some stocks to watch out in trade today: 

Vodafone Idea: In a recent meeting with Aditya Birla Group Chairman Kumar Mangalam Birla, top officials of the DoT were told that Vodafone Idea Ltd (VIL) was in advanced negotiations with three to four private equity funds in its effort to raise about Rs 20,000 crore. READ

Lupin: As per reports, Lupin is considering a restructuring move to unlock value by demerging its API (active pharmaceutical ingredients) business. 
ICICI Prudential Life Insurance: The company said it has received a GST demand notice of Rs 492.06 crore from tax authorities. The matter relates to an industry-wide issue of input tax credit and the company believes that it has availed eligible input GST credit in compliance with the provisions 

Tech Mahindra: The company's unit LCC France has approved a proposal to divest its 49 per cent holding in SARL Djazatech and its subsidiary EURL LCCUK Algerie. Tech Mahindra said there was no contribution in terms of turnover or net worth in the consolidated turnover or net worth of the Company for the year ended March 31, 2023. 

Bharti Airtel: Airtel Business Chief Executive Officer Ajay Chitkara has resigned. He will continue with the company till the third week of August. Airtel Business will operate as three business and channel segments – Global business, led by Vani Venkatesh, Domestic business, led by Ganesh Lakshminarayanan, and Nxtra Data Centers, led by Ashish Arora. 

Aditya Birla Capital: The company has opened a Q!B offer and fixed the floor price at Rs 175.99 per share. Aditya Birla Capital, in a shareholder's meeting on June 24, approved to issue equity shares on preferential basis for an aggregate amount up to Rs 1,250 crore. 

TCS: Tata Consultancy Services (TCS) Ltd has named a new head to oversee the hiring of temporary workers amid an internal probe into the bribes-for-jobs scandal. The company has entrusted Sivakumar Viswanathan, a veteran of about 30 years, as the new head of the Resource Management Group, or RMG, said reports. RMG oversees the hiring of contract workers and internally deploys people to projects.
Federal Bank: The lender has appointed Independent Director A P Hota as the part-time chairman with effect from June 29, 2023 till Jan. 14, 2026. 

Axiscades Technologies: The company has completed the re-financing of existing debt of Rs 210 crore it borrowed for the acquisition of Mistral Solutions. The refinancing will bring down the interest cost of the company by over 400 basis points per annum.

JSW Steel: After the approval for the scheme of amalgamation by NCLT, JSW Vallabh Tinplate, Vardhman Industries, and JSW Steel Coated Products filed the said order with the Registrar of Companies. The said scheme has become effective from June 26. Accordingly, JSW Vallabh Tinplate and Vardhman Industries have merged with JSW Steel Coated Products, the subsidiary of JSW Steel, and ceased to exist from the effective date.

BLS International Services: The outsourcing service provider said the board members of its subsidiary BLS E-Services have approved fundraising via initial public offering (IPO). The size of the offer, price and other details of the proposed IPO will be determined in due course.

City Union Bank: The company has received approval from the board of directors for raising further capital to the tune of Rs 500 crore via qualified institutional placement (QIP).

Hardwyn India: The board meeting will be held on 29 June 2023 to consider and approve the scheme of amalgamation with FIBA Hardwyn Locks Limited.

First Published: Jun 27 2023 | 08:09 AM IST

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