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Stocks in Focus: Indian Hotels Company, Wipro, Tata Steel and Others

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

Domestic equity indices, NSE Nifty 50 and S&P BSE Sensex ended on a flat note on Monday despite a volatile session. The Nifty ended flat with a gain of 0.30 points, while the Sensex added nearly 15 points or 0.2% to settle at 66,023.69. 

Here are some of the stocks likely to be in focus on September 26.

Century Textiles: Birla Estates, the wholly-owned realty arm of the company, has successfully launched Phase 1 of Birla Trimayu in Bengaluru. Bookings worth Rs 500 crore are already done, and the company estimates a revenue projection of Rs 3000 crore for the entire project.

Fortis Healthcare: The board of the hospital operator, at its meeting held on September 25, approved the proposal to enter into a Share Purchase Agreement with Artistery Properties for acquiring a 99.9% stake equivalent to 9,990 equity shares in the company for a total consideration of Rs 32 crore.

The Indian Hotels Company: The hospitality brand has invested $11.5 million or Rs 95.6 crore in its wholly-owned Netherland-based subsidiary IHOCO BV to help the latter repay the debt of its subsequent subsidiary.

Tata Steel: International credit rating agency Moody’s has upgraded the company’s long-term rating from ‘Ba1’ positive to ‘Baa3’ stable, citing the company’s solid

market position in India. 

Welspun Corp Limited: Welspun Corp’s wholly-owned subsidiary, Sintex BAPL, inked a Memorandum of Understanding (MoU) with the Telangana government to set up a manufacturing unit in the state for the production of water tanks and PVC pipes with an investment of up to Rs 350 crore.

Wipro: The IT major announced on Monday that it had executed the sale of a 14.02-acre land parcel along with a 20-year-old building in Chennai, Tamil Nadu, for Rs 266.38 crore to Casagrand Bizpark.

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