Stocks To Watch: Wipro, MapmyIndia, Vedanta, Adani Enterprises

Trends on SGX Nifty indicated a higher opening for the domestic markets.

New Delhi: The domestic stock indices are expected to trade in green on Tuesday, taking cues from the global markets. Asian share markets traded higher as Japan’s Nikkei jumped 2 per cent, South Korea’s KOSPI was up 0.35 per cent and the Shanghai Composite index moved 0.15 per cent higher. Both domestic and global stocks had plunged on Monday as rising Omicron coronavirus cases dented investors’ sentiment.

Today, trends on SGX Nifty indicated a higher opening for the markets back home. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures moved 0.36 per cent or 60.25 points up to 16,805.

The benchmark BSE Sensex had slumped 1,189.73 points or 2.90 per cent to close at 55,822.01 — its lowest since August 23 this year. The broader NSE Nifty had tanked 371 points or 2.18 per cent to settle at 16,614.20.

Here Are Stocks To Watch During Today’s Session:

Wipro: The IT company has said it will acquire Austin, Texas-headquartered Edgile for $230 million, a move that will strengthen the IT major’s play in the cybersecurity services space. The transaction is expected to be completed before March 31, 2022, subject to regulatory approvals and customary closing conditions.

CE Info Systems (MapmyIndia): The technology company will make its debut at the exchanges today. The issue price is Rs 1,033 per share. MapmyIndia’s initial public offer (IPO) — worth Rs 1,039.61 crore — was subscribed 154.71 times when it had opened for subscription between December 9 and December 13, 2021.

Vedanta: The company said it has acquired Nicomet, a leading nickel and cobalt producer which is based in Goa. The acquisition is in line with Vedanta’s ESG mission and is a big step towards supporting India’s carbon neutrality goals. Nickel, a strategic mineral, is a vital input in the manufacturing of stainless steel and batteries for electric vehicles (EVs). Cobalt is a key element for lithium-ion batteries for EVs, energy storage systems and has other uses like superalloy for steel making. Both nickel and cobalt are regarded as the minerals of the future which will play a leading role in the transition to renewable and cleaner energy.

Adani Enterprises: The company has received an order from Uttar Pradesh Expressways Industrial Development Authority for three Greenfield Ganga Expressway Projects in the state on a toll basis. In a statement, Adani said the project cost is over Rs 17,000 crore and this is India’s largest-ever expressway project awarded to a private company under the public-private partnership (PPP) framework.

RailTel Corporation of India: The company has received a work order from the Defence R&D Organisation for expansion and enhancement of CIAG network capacity at a total cost of Rs 68.31 crore.

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