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Indian equities seen opening sharply higher on Iran US deal hopes, FTSE and BSE index reshuffles announced, key moves in Aurobindo Pharma, Lupin, Wipro, etc.
Stocks To Watch Today, May 25.
The Indian equity market is set to start the week on a big gap-up, with Gift Nifty surging above 270 points or 1.15 per cent in the morning session. Benchmark indices seem to continue the positive momentum this week, too, following the positive developments and rising hopes of a breakthrough in the Iran-US war negotiations.
Crude oil prices fell sharply on Monday as the US and Iran moved closer to a deal that would reopen the Strait of Hormuz.
Some stocks will remain in focus on varied reasons.
Stocks to watch today, May 25
FTSE Index Review Changes
FTSE will add Tata Capital, Lenskart Solutions, LG Electronics, Meesho, ICICI Prudential Asset Management Company, and Billionbrains Garage Ventures (Groww) to the FTSE All World and FTSE All Cap indices effective June 22.
Meanwhile, NSE will remove Exide Industries and Nuvama Wealth Management from the Futures & Options (F&O) segment from July 29.
Sensex, BSE 100 Index Reshuffle
TVS Motor Company will replace Adani Enterprises in the Sensex 50 index.
At the same time, Adani Enterprises, Ashok Leyland, One 97 Communications (Paytm), and CG Power and Industrial Solutions will enter the BSE Sensex Next 50 index, replacing TVS Motor, Ambuja Cements, Colgate Palmolive, and Tube Investments of India.
Further, Ashok Leyland, One 97 Communications, and CG Power will be added to the BSE 100 index, while Ambuja Cements, Tube Investments, and Colgate Palmolive will be removed. All changes will take effect from June 22.
Aurobindo Pharma Gets OAI Status From US FDA
Aurobindo Pharma said the US Food and Drug Administration (US FDA) has classified the inspection status of Eugia Pharma Specialities’ Telangana manufacturing facility as Official Action Indicated (OAI).
The inspection, conducted between February 16 and February 27, concluded with four observations.
Lupin Enters Chinese Market
Lupin received approval from the Chinese regulator for its Oseltamivir Phosphate Oral Suspension, a paediatric drug used for influenza treatment. The approval marks the company’s entry into the Chinese pharmaceutical market.
Wipro Fixes Record Date For Buyback
Wipro has fixed June 5 as the record date for its Rs 15,000 crore share buyback programme.
Central Bank OFS Sees Strong Demand
Central Bank of India’s offer-for-sale (OFS) saw strong investor participation on Day 1, with non-retail investors subscribing 2.36 times the shares on offer.
The bank will also exercise the oversubscription option for an additional 4% stake sale, taking the total offer size higher.
RBL Bank In Focus After Emirates NBD Open Offer
Emirates NBD announced an open offer to acquire up to a 26% stake in RBL Bank at Rs 282.38 per share. The total deal size is estimated at up to Rs 11,735 crore.
IRFC Share Price In Focus After $1.1 Billion ECB Agreement
Indian Railway Finance Corporation (IRFC) signed a $1.1 billion External Commercial Borrowing (ECB) agreement with a consortium of banks including SBI, HDFC Bank, Sumitomo Mitsui Banking Corporation, and DBS Bank.
The development is likely to keep IRFC share price in focus during today’s trade.
Gujarat Themis Biosyn Announces Japan Acquisition
Gujarat Themis Biosyn said its subsidiary, Themis Biosyn Japan, will acquire MicroBiopharm Japan in a deal valued at around Rs 1,300 crore.
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