Five stocks in news today: Wipro, Grasim, Hindalco & more
Upstox
2 min read • Updated: February 21, 2024, 11:40 AM
Summary
Indian markets opened strong, with the NIFTY50 touching a new high of 22,248 before trading flat. The market breadth remains strong, as 31 stocks out of NIFTY50 are trading positive in the morning session. Here are the stocks that are expected to remain in focus today.
Hindalco Industries
Novelis Inc., a wholly owned subsidiary of Hindalco Industries Ltd, has submitted a draft registration with the Securities and Exchange Commission relating to a proposed public offering in US markets. Following the announcement, the stock is trading higher (+2.2%) at 10:15 am
Grasim
Grasim is all set to launch its paint product and inaugurate its first paint plant in Panipat as per media reports. The company had started trial runs at three plants ahead of its launch in March. Source. Grasim Industries shares are up (+1%) today.
Wipro
Wipro has announced an expanded collaboration with Intel Foundry to accelerate chip design innovation. Furthermore, Wipro launched the Wipro enterprise Artificial Intelligence ready platform, a new service that will allow clients to create enterprise level, fully integrated AI environments as per media reports. (Source) Meanwhile, Wipro shares are trading lower (-0.24%).
Union Bank of India
Union Bank of India opened a QIP (Qualified Institutional Placement) of ₹3,000 crore on Tuesday, 20 February, at the floor price of ₹142.7 per share. The company reported this in an exchange filing after a board meeting late Tuesday evening. Following the fund raising announcement shares of Union Bank of India are up (+5%) in the morning session.
Thermax
Thermax has entered into a licence and technical assistance agreement with South Korea-based Flowtech. Co Ltd, to obtain the technology to manufacture poly carboxylate ether products. The company said this new agreement further strengthened its construction chemicals business portfolio. Shares of Thermax are trading positive (+0.3%) at 10:15 am.