Stocks to track in trade for February 16, 2021: Wipro, Tech Mahindra, TCS, Safari Industries, ONGC, SIS.
- JSW Holdings: Aquarius India Opportunities Fund bought 1.11 lakh shares (1%) at Rs 4,247.14 per share.
- Titan: Subsidiary CaratLane Trading has incorporated a wholly-owned subsidiary ‘StudioC Inc’ in Delaware
- RailTel Corporation of India IPO opens for subscription today
The company signs a digital transformation deal with German telecom operator Telefonica Germany/O2. Company will transform Telefonica’s business support systems and associated assurance to enhance customer experience and growth in the business-to-business market segment.
Tech Mahindra signs a strategic partnership with Telefonica Germany/O2 to drive their end to end IT transformation. Company will support Telefonica to deliver faster product launches and provide a more human-centred experience to its customers in the mass market segment.
The company has launched a Neural Automotive and Industrial Experience Center in Michigan, to help customers reimagine their businesses and accelerate innovation. The new centre includes an automotive garage set-up with access to the latest technologies for customers and partners to experiment, co-innovate, build prototypes, and launch solutions in an agile manner.
The board approved the proposal for buyback of fully paid-up equity shares of the Company for an aggregate amount not exceeding 99.9cr. at Rs 550 per share.
Motilal Oswal AMC bought 800,000 shares that is 3.57 per cent stake in Safari Industries at Rs 540 per share while Sundaram Mutual Fund bought 300,000 shares which is 1.34 per cent stake at Rs 540 per share.
The company launches proposed QIP at a floor price of INR550.79 per share.
The proposed debt recast plan received approval from rating agencies, company’s management said in a post-earnings conference call. The move will take the company closer to complete its Rs 40 billion debt restructuring.
Mazagon Dock Shipbuilders
The company delivered the third Scorpene Submarine of Project P-75 on February 15 to the Indian Navy, subsequently to be commissioned into Indian Navy as INS Karanj.
CLSA has Upgraded rating on the stock to Outperform from Sell with a Target at Rs 105/share saying Q3 Ebitda is a beat and a Big beat on core profit; higher interest cost/tax outgo drives miss on PAT.