Stocks in focus: Wipro, PNB, HDFC Bank, Biocon, AU Small Finance Bank, ICICI Prudential Life Insurance

Nifty futures were trading 35 points or 0.25 per cent up at 14,005, suggesting a record high opening for BSE Sensex and Nifty 50 in today’s session. In the previous, headline indices clocked a record closing highs. In overnight trade on Wall Street, each of US stock market’s main index closed at record levels. Following this, Asian stock markets were too trading higher in today’s session. “The overall undertone has been so strong, the correction did not even extend beyond one and half days. The Nifty has once again entered an uncharted territory and the next milestone of 14000 is very much in sight now. For the coming trading session, 13800 followed by 13750 should be treated as immediate supports; whereas on the higher side, 13950 – 14000 are the levels to watch out for,” said Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking).

Stocks in focus today

Wipro: Wipro’s Rs 9,500-crore share buyback programme will commence on December 29 and close on January 11, 2021. Last month, shareholders had approved Wipro’s buyback plan for purchase of up to 23.75 crore equity shares at Rs 400 per share, aggregating to an amount of up to Rs 9,500 crore.

PNB: State-owned Punjab National Bank (PNB) on Monday said it has completed IT integration of all branches of erstwhile United Bank of India with itself. This is in continuation to the IT integration of all branches of erstwhile Oriental Bank of Commerce undertaken last month, PNB said in a statement.

HDFC Bank: The board of directors of HDFC Bank Ltd at its meeting, has recommended the appointment of the Part-Time Chairperson of the Bank and has submitted its recommendation to the Reserve Bank of India (RBI). The tenure of the existing Part-Time Chairperson of the Bank, Mrs. Shyamala Gopinath, shall end at the close of business hours of January 1, 2021.

Biocon: Biocon Ltd announced the launch of Tacrolimus capsules in the US. Tacrolimus, a calcineurin inhibitor, is an immunosuppressant used in the treatment of organ transplant patients, which reduces the body’s ability to reject a transplanted organ.

AU Small Finance Bank, ICICI Prudential Life Insurance: AU Small Finance Bank announced its partnership with ICICI Prudential Life Insurance to offer customised, need and goal-based Life Insurance solution. Through this bank aims to deliver paperless, secure, and hassle-free life insurance solutions to its more than 18 lakh customers through digital platform with ICICI Prudential Life.