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Stocks in Focus: Wipro, Bank of Baroda, IDFC First Bank and Others

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The GIFT Nifty futures were trading in the green before the market’s opening on Tuesday. Domestic Indices are expected to open on a similar positive note.

Domestic equity indices, NSE Nifty 50 and S&P BSE Sensex rose sharply on Tuesday despite rising geopolitical tensions in the Middle East. The Nifty added 177.5 points or 0.91% to close at 19,512.35, while the Sensex settled at 66,079.36 after surging 0.87% or 566.97 points.  

Here are some of the stocks to watch on October 11.

Bank of Baroda: The Reserve Bank of India (RBI) directed the public sector bank to suspend the onboarding of new customers onto its mobile banking application, BOB World, with immediate effect, as the apex bank observed certain supervisory concerns regarding customer onboarding. Bank of Baroda’s board will also meet today to consider raising funds through long-term bonds to finance infrastructure and affordable housing.

IDFC First Bank: The private bank has inked an agreement with the National Securities Depository Ltd (NSDL) for the sale of its office premises spanning 68,000 square feet in Naman Chambers, Bandra Kurla Complex (BKC) for a total consideration of Rs 200 crore. Further, 

Multi Commodity Exchange (MCX): The largest commodity exchange in the country has announced that it will take its new commodity derivatives platform (CDP) live from October 16, following a mock session on October 15.

Samvardhana Motherson International: The automotive industry company has incorporated Motherson Group Investments USA Inc, Delaware, as an indirect wholly-owned subsidiary.

Wipro: The IT behemoth acquired a 9.95% equity stake in FPEL Ujwal, a solar power company. Further, the company has granted 1,46,761 Restricted Stock Units under the Company’s ADS Restricted Stock Unit Plan 2004 to its or its subsidiary company’s identified employee(s), effective October 10, 2023. 

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