Stocks to Watch: GAIL, Fortis, ONGC, Paytm, Tata Power, Wipro, BPCL, and Others – News18

Stocks to Watch on June 23: The Nifty futures contract traded on the Singapore Exchange indicates a positive/negative start to domestic equities. The contract was trading at 18,850, up 19 points or 0.10% from the previous close.

L&T: The construction conglomerate inked pact with the Defence Research and Development Organisation (DRDO) for realisation of two air-independent propulsion (AIP) modules for the Kalvari class of submarines of the Indian Navy.

Fortis Healthcare: The company signed definitive agreements to sell its hospital business operations at Vadapalani, Chennai to Sri Kauvery Medical Care (India), for a sale consideration of Rs 152 crore.

GAIL: The gas distributor won licence to build a gas pipeline from Gurdaspur in Punjab to Jammu, beating Indian Oil Corporation. The 175-km long pipeline will carry environment-friendly fuel to Jammu, and have an initial capacity to carry at least 2 million standard cubic meters per day. READ MORE

ONGC: The state-owned company linked Panna oilfield in the Arabian Sea to shore through a sub-sea pipeline, saving $43,000 a day that was previously incurred in transporting crude oil through ships. READ MORE

Tata Power: According to reports, the company is planning to raise up to Rs 2,500 crore by selling some of its assets overseas, including hydro assets in Zambia, and two coal mines in Indonesia.

Paytm: The company signed an MoU with Arunachal Pradesh Innovation and Investment Park (APIIP) to create a startup ecosystem for the youth in the northeastern state. The Paytm Incubation Centre, according to the MoU, would provide products to early-age startups at a discounted price.

Vedanta: The company that did not plan to sell its copper plant at Thoothukudi in Tamil Nadu, and called media reports of selling the plant as ‘wrong, baseless and incorrect.’

Wipro: The IT services company inaugurated its new office at Sable Park, Century City, in Cape Town. The new office, said the management, would help address requirements of the growing client base in South Africa, and provide opportunities to local talent.

Coforge: Coforge has acquired the final tranche shares of balance 20% in Coforge Business Process Solutions aggregating its shareholding to 80%.

BPCL: A Board meeting of BPCL will be held on June 28 to consider the various modalities for capital infusion including rights issue, for achieving energy transition, net zero and energy security objectives.

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