Nykaa, HDFC, Hero MotoCorp, Wipro, Sun Pharma, Dilip Buildcon stocks in focus

Geo-political tensions are weighing on the market across the world. A sharp rise in volatility has further dampened the investor’s sentiments. Indian equity markets stared at flat to positive start on Wednesday as Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.27% to 17,148.50. “Markets are witnessing increased volatility as there is no immediate relief from the Russia-Ukraine conflict that has rapidly worsened. Further, rising oil prices have added to the negativity in the markets. Also F&O monthly expiry on Thursday would keep the markets volatile,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

Stocks to watch on Wednesday, 23 February

FSN E-Commerce Ventures (Nykaa): The company informed that its litigation with L’Oreal S.A. has been settled. It had disclosed the details of pending litigation with L’Oreal S.A. in its IPO prospectus. ” In the course of Initial Public Offering by the Company, the details of the pending litigation (civil proceeding) with L’Oreal S.A. were disclosed in the Prospectus dated November 02, 2021, The Company hereby informs that the aforesaid litigation with L’Oreal S.A. has been settled,” Nykaa said in a regulatory filing.

Hero MotoCorp: Hero MotoCorp and Bharat Petroleum Corporation Limited (BPCL) have collaborated to set up charging infrastructure for electric vehicles across India. Hero MotoCorp has been gearing up for launching its electric two-wheeler and ahead of that the two-week manufacturer is focusing on building an EV charging ecosystem for its potential customers. The two companies have claimed that they will first establish EV charging infrastructure at the existing nationwide energy station network. Subsequently, they might broaden their collaboration to develop more synergies to build an improved EV ecosystem in the country.

Wipro: Wipro’s corporate investment arm, Wipro Ventures, has invested an undisclosed sum in vFunction’s Series A funding round. The investment is part of its strategic partnership with the Palo Alto-based startup, which has developed a scalable, AI-based technology platform for modernizing Java applications and accelerating migration to the cloud. The partnership is expected to add to Wipro’s FullStride Cloud Services’ portfolio of digital transformation solutions and help advance its commitment to accelerating cloud innovation for clients, Wipro said.

Sun Pharma: The company’s subsidiary Taro Pharmaceutical Industries Ltd has signed a definitive agreement to acquire Alchemee, formerly The Proactiv Company (TPC}, from Galderma for $90 million. The agreement between Galderma and Taro includes Alchemee’s business and assets around the world, including the Proactiv brand.

HDFC: Societe Generale on Tuesday offloaded shares of Housing Development Finance Corp (HDFC) worth nearly Rs 1,730 crore through an open market transaction. As per block deal data on BSE, Societe Generale sold nearly 71 lakh shares at an average price of Rs 2,436.8 per share.

Dilip Buildcon: The company has been declared as L-l bidder for the tenders floated by the National Highways Authority of India (NHAI) on Hybrid Annuity basis for Raipur-Visakhapatnam economic corridor in Chhattisgarh. The order is worth Rs 1,141 crore.