Stocks to watch on June 10: Wipro, Tech Mahindra, Motilal Oswal, Premier Energies
Markets started the new week on a positive note, continuing Friday's gains. Sensex and Nifty rose nearly half a percent, driven by favourable trends in both domestic and global markets.Investors are hopeful that the rally will continue. As trading resumes on June 10, here are some of the key stocks to keep an eye on:PROTEAN EGOV TECHNOLOGIESProtean eGov Technologies has bagged a work order worth around Rs 100 crore from the Bima Sugam India Federation (BSIF). The order involves complete development, running, and maintenance of the Bima Sugam Marketplace. The company will also handle all platform integrations and marketplace-related protocols. This is expected to be a major step for Protean in the digital insurance services space.WIPROWipro came into focus after a large block deal. The Azim Premji Trust, which is the promoter entity, sold 20.23 crore shares of the company. The total value of the deal stood at Rs 5,057 crore. This major transaction may impact the stock price in the short term.PREMIER ENERGIESAccording to a CNBC-TV18 report, South Asia Growth Fund II Holdings is likely to offload 2.5 crore equity shares of Premier Energies through a block deal. This represents around 5.5% of the company's paid-up capital. The floor price for the sale is expected to be Rs 1,051.50 per share.MOTILAL OSWAL FINANCIAL SERVICES (MOFSL)Sebi has imposed a fine of Rs 3 lakh on Motilal Oswal Financial Services for breaking certain rules. This penalty follows an investigation into the firm's conduct in capital market operations. The exact nature of the violation has not been disclosed, but this development could attract some investor attention.TECH MAHINDRATech Mahindra announced that Lakshmanan Chidambaram, President of Tech Mahindra Americas – strategic vertical business, will retire on June 30. His exit may affect investor sentiment, especially in the company's US-based operations.CAPRI GLOBAL CAPITALCapri Global Capital opened its Qualified Institutions Placement (QIP) for subscription on June 9. The floor price is set at Rs 153.93 per share. Reports suggest that the QIP size could go up to Rs 2,000 crore, including a Rs 500 crore upsize option. This move is aimed at raising capital to support business growth.JANA SMALL FINANCE BANKJana Small Finance Bank has applied to the Reserve Bank of India to convert itself into a universal bank. If approved, this would allow the bank to offer a wider range of services. The decision is seen as a step forward in the bank's growth journey.OBEROI REALTYPankaj Gupta has stepped down as CEO of the Commercial Real Estate division of Oberoi Realty. His resignation took effect on June 9. The company has not announced a replacement yet.ASTRAZENECA PHARMA INDIASanjeev Kumar Panchal, the Managing Director of AstraZeneca Pharma India, has resigned. His last working day will be June 30. AstraZeneca is expected to begin the process of finding a new MD soon.FORCE MOTORSForce Motors saw a top-level change as its CFO, Sanjay Kumar Bohra, resigned on June 9. The company has appointed Rishi Luharuka as the new Chief Financial Officer starting June 10. This leadership change may lead to new strategies in the company's financial planning.
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