Top stocks to watch — Vedanta, Wipro, RITES, Mazagon Dock, UTI AMC, Glenmark Pharma, and others

BCCL
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Amidst positive cues from the Asian markets, the Indian stock market is likely to open in green. The SGX Nifty was trading 0.48% higher at 7:55 am, indicating a positive start for Nifty50.

Other Asian markets were also trading in green— Hang Seng Index was up 1.34%, Australian Securities Exchange, ASX 200 was also up 0.17%.

These are the stocks to watch out for during the trading session on October 12:

Vedanta

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Vedanta on Sunday informed stock-exchanges that its buyback offer is deemed to have failed as per the terms of the delisting regulations after promoter Vedanta Resources did not receive the required number of shares to delist the firm.

The shares of Vedanta closed 2% higher on Friday.

Glenmark Pharmaceuticals

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Glenmark Pharmaceuticals on Friday said that its Umifenovir did not show superior clinical outcomes when added to Favipiravir treatment for moderate coronavirus.

The shares of Glenmark Pharmaceuticals closed 2% lower on Friday.

Indiabulls Housing Finance

The Gurugram-headquartered mortgage lender, Indiabulls Housing Finance has raised about ₹441 crore by further selling a portion of its stake in OakNorth Holding to a US-based Riva Capital Partners V LP.
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The shares of Indiabulls Housing Finance closed 5% higher on Friday.

Dr Lal PathLabs

Dr Lal PathLabs clarified that the data breach of its patients occurred after a misconfiguration in one of its minor web applications where temporary records were stored for operational purposes, and took place at a facility managed by a third party.

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“It involved less than 0.5% of our records and has been successfully resolved since,” the company said. The shares of Dr Lal PathLabs closed 5% lower on Friday.

RITES

The engineering consultancy company, RITES has secured ₹103 crore order from project management consultancies for the construction of various buildings at IIT Delhi and for study of Multi Modal Integration Planning for Surat Metro, among others.

The shares of RITES closed 0.22% higher on Friday.
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Premier Explosives

The explosives manufacturing company, Premier Explosives said it has bagged ₹82.83 crore order from a state-run Singareni Collieries Company in Telangana for the supply of SMS/SME explosives and accessories.

The shares of Premier Explosives closed 5% higher on Friday.

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Karnataka Bank

The state-owned Karnataka Bank on Friday declared its exposure of ₹107.99 crore to Sintex Industries (SIL) as fraud.

The shares of Karnataka Bank closed 2.4% higher on Friday.

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Mazagon Dock Shipbuilders and UTI AMC

The shares of Mazagon Dock Shipbuilders and UTI AMC will list on the bourses today at 10:00 am. Mazagon Dock Shipbuilders is expected to witness a bumper listing, with grey market premium floating around ₹95-₹100. Meanwhile, UTI AMC may not see much excitement from investors, as per the current grey market premium. UTI AMC is likely to list at a ‘discounted’ price.

Wipro

Watch out for Wipro ahead of its earnings and buyback announcement due tomorrow.

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Shalby and GNA Axles

Shalby and GNA Axles are slated to report their second quarterly earnings today.

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