Stocks to watch today: Oswal Pumps, Biocon, United Spirits, Sai Life Sciences
Stock markets remained volatile and ended flat on Wednesday, as investors stayed cautious due to weak global cues and growing tension in the Middle East. On Friday, a mix of company updates and investor actions may influence specific stocks on Dalal Street.BioconBiocon, a major player in the biopharmaceutical industry, has closed its qualified institutional placement (QIP) issue. The company finalised the allotment of 13.63 crore shares, raising Rs 4,500 crore. These shares were allotted at Rs 330 each. Notable investors in the QIP include ICICI Prudential Mutual Fund, SBI Mutual Fund, HDFC Life Insurance, Nippon Life India, Mirae Asset, and Franklin India.United SpiritsUnited Spirits has announced that it will buy 37,683 equity shares of Nao Spirits & Beverages in two parts from existing shareholders. The cost of this acquisition is Rs 53.80 crore. In addition to this, United Spirits will subscribe to 31,820 new equity shares and 27,577 compulsorily convertible preference shares (CCPS) for Rs 56 crore. Once the first part of this transaction is completed, United Spirits will own 97.07% of Nao Spirits, making it a subsidiary.Sai Life SciencesSai Life Sciences may see movement today as TPG Asia VII SF Pte is expected to sell a 6% stake in the company. This translates to around 1.25 crore shares, according to a CNBC-TV18 report. The deal is likely to be worth about USD 102 million, with a base price set at Rs 710 per share. The block deal could draw attention from institutional investors and traders.Kaynes Technology IndiaKaynes Technology has launched its QIP on June 19. The floor price has been fixed at Rs 5,625.75 per share. According to sources quoted by CNBC-TV18, the company aims to raise up to Rs 1,600 crore through this offer. The QIP is likely to help the company with expansion plans or strengthen its financials.Nestle IndiaShares of Nestle India could be in focus after the company announced that its Board of Directors will meet on June 26. They will consider a proposal to issue bonus shares. Investors will watch this development closely, as bonus shares usually lead to positive market sentiment.Angel OneDevender Kumar, the Chief Revenue Officer of Direct Business at Angel One, has resigned. His last working day will be September 30. Management changes at senior levels often affect investor confidence and may have a short-term impact on stock movement.EthosEthos shares may be under pressure after Goldman Sachs sold more than 1.77 lakh shares through a block deal. The total deal size was Rs 48 crore, with the shares sold at a price of Rs 2,700.6 each.Oswal PumpsThough the listing is expected on June 20, market participants will watch Oswal Pumps closely. Its IPO received strong demand across all investor categories, and the grey market premium has hinted at a positive listing. Final price movement on debut will give an indication of investor confidence in the company.With these updates, markets may see stock-specific action even as broader cues remain uncertain.
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