Top 10 stocks for today – 1st December 2023

1 Dec 2023 , 08:20 AM

Biocon: Biocon Biologics, a subsidiary of Viatris, has completed the integration of Viatris’ biosimilars business in 31 European nations. In November 2022, the subsidiary purchased all of Viatris’ global biosimilar activities. The company has a powerful pipeline of 20 assets for diabetology, cancer, immunology, ophthalmology, and bone health on a worldwide scale.

LTIMindtree: Metasphere, a wastewater application expert, has chosen the technology consulting and digital solutions firm as a key partner to grow its smart sewer management platform.

UltraTech Cement: On a share swap basis, the country’s largest cement manufacturer will purchase Kesoram Industries’ cement division. Kesoram Industries shareholders will get one share of UltraTech Cement for every 52 shares owned. The purchase will unlock the value of Kesoram Industries’ cement division for the company’s shareholders.

Thomas Cook (India): Fairbridge Capital (Mauritius), the promoter, wants to execute the greenshoe option in the offer-for-sale, which began on November 30. The OFS auction will end on December 1. Fairbridge will sell up to an 8.50 percent share in the firm through OFS, which will include a base issue of 6.80 percent and a greenshoe option of 1.70 percent.

Power Grid Corporation of India: The state-owned electric services firm has been named the successful bidder for two inter-state transmission system projects in Rajasthan on a construct, own, operate and transfer (BOOT) basis.

Pfizer: Milind Patil has stepped down as the company’s Chief Financial Officer, effective November 30, 2023. As a result, Patil is no longer a member of the company’s senior management team.

ITD Cementation: The engineering and construction firm has been awarded a contract in Andhra Pradesh for civil and hydromechanical works on a 500 MW hydel power plant as well as a pumped storage facility for Rs 1,001 crore.

Timken India: Through open market transactions, Profusion Investment Advisors LLP sold 19.4 lakh equity shares in the ball and roller bearing manufacturing company. These shares were sold for a total of Rs 560.92 crore at an average price of Rs 2,890.41 per share.

Wipro: Wipro announced a collaboration with Amazon Web Services (AWS) to reimagine lab operations in the life sciences business.

CSB Bank: The Reserve Bank of India has authorised the reduction of promoter FIH Mauritius Investments’ (FIHM) interest in the bank’s paid-up capital. This is consistent with the current RBI Master Direction. FIHM would reduce its participation in the bank to 26% within 15 years of investment completion, rather than 15%, as indicated by the RBI at the time of FIHM’s investment proposal approval in 2018.

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