Stocks in the news: Wipro, Bajaj Consumer, Can Fin Homes, BPCL and Omaxe

NEW DELHI: Nifty futures on the Singapore Exchange were trading 42 points, or 0.37 per cent, higher at 11,477, indicating a positive start for Dalal Street. Here are a few stocks which may buzz the most in today’s trade:

Wipro: The IT major reported in-line revenue growth in the second quarter, helped by its consumer and manufacturing verticals, even as the Bengaluru-based IT services provider’s third-quarter growth forecast beat market expectations.

Federal Bank, Mindtree: DB Corp, Hathway Cable, Mindtree, Federal Bank and Aditya Birla Money are among a few companies which wil report September quarter results today.

Can Fin Homes: Baring Partners and a strategic investor are in the race to buy 30% in Can Fin Homes. Competitive intensity is less evident as many earlier bidders, such as Warburg Pincus, have already bought into different entities, and the industry itself is losing sheen due to a credit squeeze.

Omaxe: Realty developer Omaxe is in advanced talks with private equity firms to raise over ₹400 crore for its commercial project spread over 4.5 acre in Delhi’s Chandni Chowk, two persons familiar with the development said.

CG Power: Banks plan to restructure Rs 4,000 crore of loans given to fraud-hit CG Power and Industrial Solutions, including an easier moratorium on repayments and standstill arrangements to pay past loans, in a bid to keep the company’s operations going, three people familiar with the development said.

BPCL: The stock of Bharat Petroleum Corporation (BPCL) has gained 28% over the past one month following the government’s plan to sell its stake in the oil marketing firm to a strategic buyer. The government has now initiated a bidding process to find out an asset valuer to estimate the fair value of the company.

Bajaj Consumer Care: Bajaj Consumer Care promoter has sold nearly 22 per cent stake in the FMCG firm for Rs 628 crore through an open market transaction on Tuesday to pare debt. With the overhang of high promoter-level debt being removed, the stock is likely to outperform in the coming months, said analysts. About 20 broking firms which cover the stock expect the stock to touch ₹398 in a year.

DHFL: In a relief to debt-laden Dewan Housing Finance (DHFL), the Bombay High Court on Tuesday restrained the company from making payments to its secured and unsecured creditors and asked them to file its reply within two weeks on the Edelweiss matter

GAIL: The Cabinet may, by next month, consider a proposal to hive off GAIL (India)’s pipeline business into a separate entity, but its sale to a strategic investor may not happen before 2022.

HPCL: HPCL-Mittal Energy (HMEL), a joint venture between Hindustan Petroleum Corporation and Mittal Energy Investment, Singapore, raised $300 million on Tuesday by selling bonds to offshore investors.

SBI Life: SBI Life Insurance Company reported a 48.7% fall in the net profit for the quarter ended September at Rs 129.8 crore compared to Rs 250.5 last year on the back of increased provisions. The insurer made provisions worth Rs 70.3 crore for diminution in value of investments in the quarter.

Jindal Steel, JSW Energy: JSW Group promoter Sajjan Jindal has repaid ₹1,200 crore of loans raised by pledging shares of JSW Steel and JSW Energy, the conglomerate said on Tuesday.

GVK Infra: The GVK Group, which is in locked in a legal battle with the Adani Group on stake sale in its flagship Mumbai International Airport, on Tuesday said it has received a notice from the ministry of corporate affairs (MCA), seeking some details about the airport operator.

Prestige Estates: Blackstone-owned Nexus Malls and Bengaluru-based Prestige Group are in initial talks to merge their mall businesses, said two people with knowledge of the matter, in a sign of consolidation in India’s competitive shoppingcentre space.
Insider Buys:

• No buy entry reported for the day.

Insider Sells:

• No sell entry reported for the day.

Note: Disclosure made under Reg 13(4), 13(4a) of SEBI (IT) regulations 1992.

Bulk and Block Deals :
Note: Insider Buy/Sell is as defined by SEBI Insider Trading Regulations, 1992 Bulk Deal is defined as any trade in which quantity transacted is more then 0.5% of the companies equity shares listed on the exchanges. The above mentioned data is not completely Extensive as relatively smaller trades have been excluded. (Edelweiss Alternative Research)