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Stocks in Focus: Wipro, TCS, Reliance Industries and Others

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

Domestic benchmark indices, NSE Nifty 50 and S&P BSE Sensex, ended higher on Tuesday, ending a two-session losing streak. Nifty ended 0.45% per cent or 89.4 points higher at 19,783.40, while the Sensex gained 275.63 points or 0.42% to 65,930.78. 

Here are some of the top stocks to watch on November 22.

Reliance Industries (RIL): Mukesh Ambani, Chairman and Managing Director of Reliance Industries, announced at the Bengal Global Business Summit that RIL plans to invest Rs 20,000 crore in the digital, retail, and bioenergy sectors in West Bengal over the next three years.

Lupin: The pharma major has received tentative approval from the United States Food and Drug Administration (USFDA) for its Pitavastatin and Dapagliflozin tablets. The former drug will be manufactured at Lupin’s Pithampur facility in India.

Tata Consultancy Services (TCS): The United States Supreme Court rejected the Tata Group company’s petition in the EPIC Systems Corporation matter, upholding an earlier court verdict. TCS will have to pay a punitive damages award of $140 million or Rs 1,166 crore, for which it intends to make a balance provision in its financial statements for the third quarter and nine months ending December 31, 2023.

Aurobindo Pharma: The company’s US-based step-down subsidiary, Evive Biotech, a global biopharmaceutical company, has received the USFDA’s approval of Ryzneuta (Efbemalenograstim alfa Injection) for Chemotherapy-Induced Neutropenia (CIN). 

Maruti Suzuki: The company’s board will meet on November 24 to consider the allotment of 1,23,22,514 shares of Maruti Suzuki India to Suzuki Motor Corp on a preferential basis 

Wipro: The IT major announced that it will collaborate with NVIDIA to help healthcare companies accelerate the adoption of generative artificial intelligence through AI-driven strategies, products, and services.

Texamaco Rail ​and Engineering: The board of the industrial products company, on November 21, approved the launch of a QIP to aggregate Rs 750 crore at a floor price of Rs 135.9.

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