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Top stocks to watch – Infosys, Wipro, Jubilant FoodWorks, Bajaj Auto, Majesco, and others

Dec 23, 2020, 08:48 IST
Business Insider India
BCCL
Indian stock markets could see a bounce back on Tuesday after the massive plunge on Monday.

At 7:45 am, SGX Nifty was down by 50 points, or 0.38%, suggesting that the Indian stock exchanges will have a tepid start to the day. This is at a time when US stocks had a mixed day as stimulus optimism clashed with the new virus strain. The Dow Jones closed in the red, down by 0.67%, while S&P 500 was down by 0.21%.
These are the stocks to watch out for during the trading session today

Infosys
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Infosys has announced a deal with German automotive giant Daimler AG. As part of the deal, Infosys will take over Daimler AG’s employees in Germany, the US and the Asia Pacific region.

Wipro

Wipro has announced a share buyback program which will open on December 29 and close on January 11. Additionally, the IT company has also announced a deal with German multinational company Metro AG.

According to the ₹9,500 crore worth buyback offer, Wipro plans to purchase shares at ₹400 per share, which is 10% more than yesterday’s (Dec 22) closing price of ₹364, looking to mop up 23.75 crore shares from the market.
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Additionally, Wipro has signed a $700 million deal with Metro AG that will bring over 1,300 employees of the German company to Wipro.

Mahindra & Mahindra

Mahindra’s South Korean subsidiary SsangYong Motor has filed for bankruptcy after failing to repay loans worth ₹680 crore.
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Jubilant FoodWorks

The company has announced “The Unthinkable Pizza” based on plant protein. This comes after it had announced its foray into biryani (an Indian rice-based dish) that sent its stock soaring to a record high.

Bajaj Auto

Bajaj Auto has signed a memorandum of understanding (MoU) with the Maharashtra government to set up a manufacturing unit with an investment of ₹650 crore.
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Punjab National Bank

State insurer Life Insurance Corporation of India has increased its stake in the bank from 4.12% to 7.73%.

Majesco

One of the hottest stocks in the news recently, it will be worth watching out for today as its promoter Ketan Mehta and others sold 10.5 lakh shares while Atul Limited acquired 2.14 shares.
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LT Foods

The company received a boost in its ratings from CRISIL, who revised its outlook to ‘positive’ from ‘stable’.

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