Stocks to Watch: Wipro, Tata Power, Paytm and others

Stocks to Watch: Wipro, Tata Power, Paytm and others

Here are stocks to watch out for:

Wipro: The IT services provider and employee representatives have agreed to create a European Works Council (EWC). The first EWC founded by a corporation with its headquarters in India is that of Wipro. An EU rule introducing the opportunity in businesses with more than 1,000 employees across various European locations prompted the establishment of an EWC in response to a request by employees.

One 97 Communications: SoftBank is looking to offload $215 million worth stake in Paytm as lock-in for pre-IPO investors ends later this week, according to Bloomberg. The Japanese investor is offering to sell 29 million shares in the company at Rs 555 to Rs 601.45 apiece, at a discount of up to 7.72% to the current market price.

Aurobindo Pharma: The company has received Establishment Inspection Report from USFDA for unit XI, an API non-antibiotic manufacturing facility at Pydibhimavaram, Andhra Pradesh. The unit was inspected by the USFDA in February 2019 and issued a warning letter in June 2019. The said unit was further inspected by USFDA during July 25 - August 2 and issued a Form 483 with 3 observations.

Cholamandalam Financial Holdings: ICICI Prudential Mutual Fund under its various schemes bought 3.04 lakh shares in the company via open market transactions on November 14. As a result, the shareholding of the fund increased by 2.04% to 7.11%, from 5.07% earlier.

Tata Power: Tata Power Solar Systems, a subsidiary of Tata Power Renewable Energy, has tied up with Union Bank of India, to help MSME sector switch to solar solutions. The objective of this collaboration is to improve access to green energy and save on the cost of electricity, thus making MSMEs more profitable.

Bikaji Foods International: Goldman Sachs Funds - Goldman Sachs India Equity Portfolio - acquired 17.45 lakh shares in the ethnic snacks company at an average price of Rs 324.5 per share.