Stocks in Focus: Paytm, Pine Labs, WIpro, JK Cement, and Others

The GIFT Nifty futures, which are an early indicator of the Nifty50 index stocks, were trading higher by 185 points at 24,108, indicating that the domestic benchmark indices are likely to make a positive start on Monday. 

Earlier on Friday, 24 April, the domestic benchmark indices S&P BSE Sensex slumped by 999 points or 1.29%, and settled at 76,664, while the Nifty50 traded 1.14% lower or 275 points, closing at 23,897.

Here are some stocks that are likely to remain in focus on 27 April.

One 97 Communications (Paytm): The Reserve Bank of India cancelled the banking licence of Paytm Payments Bank effective 24 April, prohibiting it from conducting banking operations. Following this, the board and shareholders approved resolutions on 25 April to initiate the winding-up of the bank.

Pine Labs: The board approved the acquisition of a 100% stake in Shopflo Technologies from existing shareholders for Rs 88 crore.

Wipro: The company formed a strategic partnership with Kongsberg Digital to deploy next-generation AI-powered digital twin solutions for the energy and utilities sector.

JK Cement: The company emerged as the preferred bidder for the Maliyakheri Limestone Block-I mining lease in Chittorgarh, Rajasthan, covering 6.90 hectares.

Indian Hume Pipe Company: The company received a Letter of Intent worth Rs 417.97 crore from the Maharashtra Krishna Valley Development Corporation for irrigation infrastructure work under the Guruvarya Late Laxmanraoji Inamdar Lift Irrigation Scheme.

Balrampur Chini Mills: The company approved setting up a lactogypsum processing plant at Kumbhi, Uttar Pradesh, with an investment of up to Rs 160 crore. The facility will produce gypsum boards using lactogypsum, a by-product of its upcoming Polylactic Acid (PLA) project, enhancing value from by-products and strengthening integrated operations.

Alembic Pharma: The company received final approval from the US Food and Drug Administration for its ANDA for Fingolimod 0.5 mg capsules, which are therapeutically equivalent to Novartis’ Gilenya. The drug is used to treat relapsing forms of Multiple Sclerosis.

Pace Digitek: The company, along with its subsidiary Lineage Power, entered into an OEM partnership with NEC XON Systems in South Africa. Under the agreement, NEC XON will market, distribute, and deploy its grid-scale Battery Energy Storage Systems (BESS) and related solutions across multiple African countries. 

Supreme Power Equipment: The company secured domestic orders worth Rs 128 crore from Hyderabad-based firms. With these additions, its order book rose to Rs 481.44 crore, while its subsidiary Danya Electric Company holds Rs 96.28 crore, taking the combined total to Rs 577.72 crore.

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