Watch out for these stocks: Sun Pharma, Yes Bank, Ola Electric, CPCL, Vodafone Idea, Waaree Renewable, Wipro, Tech Mahindra, IDFC First Bank, TVS Supply Chain, ONGC, Vedanta

According to the market buzz, four block deals in big companies are expected today. They are: Tata Technologies (PE firm TPG is expected to exit by selling its 2.1% stake); Indegene (CA Dawn Investments, an affiliate of US-based Carlyle, is expected to sell a 10.2% stake in healthcare tech firm);  Aditya Birla Fashion (Walmart-owned Flipkart plans to sell 6% stake); and Alkem Laboratories (one of the promoters, Jayanthi Sinha, is likely to offload 1.42 per cent stake).

Sun Pharmaceutical Industries Ltd has announced top-line results from the Phase-2 clinical trial evaluating the safety and efficacy of SCD-044 (a novel, orally bioavailable sphingosine-1-phosphate (S1P) receptor 1 agonist) for moderate to severe psoriasis. The study did not meet its primary endpoint of 75% improvement in PASI (Psoriasis Area and Severity Index) score (≥PASI75) at Week 16. The Phase 2 randomised, double-blind, placebo-controlled study of SCD-044 included 263 people living. Sun Pharma is also discontinuing studies of SCD-044 for atopic dermatitis after top-line results from a Phase-2 clinical trial did not meet the primary objective of 75% improvement in EASI (Eczema Area and Severity Index) score (≥EASI75) at Week 16. The Phase-2 atopic dermatitis study of SCD-044 included 250 people and compared three different dosages of SCD-044 with placebo, with moderate to severe plaque psoriasis. 

Quick Routes International on Tuesday exited Zinka Logistics Solutions by selling a 9 per cent stake in the company for ₹672 crore through open market transactions. Besides, Peak XV Partners’ affiliate Peak XV Partners Investments VI disposed of 12.10 lakh shares in Zinka Logistics for ₹53 crore. Meanwhile, Abu Dhabi Investment Authority, Massachusetts Institute of Technology, ICICI Prudential Mutual Fund, SBI Mutual Fund and Nomura India acquired a total of 83.87 lakh shares or cumulatively a 4.73 per cent stake in Bengaluru-based Zinka Logistics.

The board of YES Bank has approved raising Rs 16,000 crore through a mix of equity and debt to fund business growth. The board approved raising funds by way of issuance of eligible equity securities through permissible means, provided the aggregate amount to be raised by issuance of such securities would not exceed ₹7,500 crore and would not result in an aggregate dilution of more than 10 per cent (including dilution on account of issuance of equity securities in terms of this item and conversion of any convertible debt securities approved by the board), the private bank said in a regulatory filing. The board also gave its nod to raising funds by way of issuance of eligible debt securities in Indian or foreign currency, provided that the aggregate amount to be raised by issuance of such securities would not exceed ₹8,500 crore and would not result in an aggregate dilution of more than 10 per cent, it said. Meanwhile, Carlyle group on Tuesday sold a 2.6 per cent stake in Yes Bank for ₹1,775 crore through open market transactions. The development comes after State Bank of India and seven other lenders last month announced that they would sell 20 per cent of their combined stake in the bank to Japan’s Sumitomo Mitsui Banking Corporation for ₹13,483 crore. US-based Carlyle, through its affiliate CA Basque Investments, sold a total of 82 crore shares, representing a 2.62 per cent stake in the Mumbai-based bank on the NSE and BSE, as per bulk deal data on the bourses.

Hyundai Motor and Kia Corporation have exited Ola Electric Mobility through block deals, selling their entire shareholding in the electric vehicle maker. According to NSE bulk deal data, Hyundai sold 10.8 crore shares at ₹50.70 apiece, amounting to ₹552 crore, while Kia offloaded 2.7 crore shares at ₹50.55 each, totalling ₹138 crore. In a parallel move, Citigroup Global Markets Mauritius acquired 8.61 crore shares at ₹50.55 per share, translating to a ₹437 -crore investment in Ola Electric.

The Chennai Petroleum Corporation Ltd (CPCL) has formally sought government approval for its ambitious Cauvery Basin Refinery Project in Tamil Nadu, valued at ₹36,400 crore. The company had acquired about 1,300 acres of land in Nagapattinam for setting up a refinery with a capacity of 9 million tonnes per annum, CPCL Managing Director H Shankar said on Tuesday.

WestBridge Capital , one of the promoters of Aptus Value Housing Finance, divested a 12.4 per cent stake in the company for ₹1,906 crore. Meanwhile, SBI Mutual Fund, Axis Mutual Fund, Morgan Stanley Asia Singapore and Luxembourg-based Eastbridge Group cumulatively picked up over 1.67 crore shares or 3.35 per cent stake in Aptus Value Housing Finance for ₹514 crore.

Ericsson India on Tuesday sold nearly 1 per cent stake in debt-ridden telco Vodafone Idea for ₹428 crore through an open market transaction. According to the bulk deal data available on BSE, Ericsson India Pvt Ltd offloaded more than 63.37 crore shares, amounting to a 0.9 per cent stake, in Mumbai-based Vodafone Idea. The shares were offloaded at an average price of ₹6.76 apiece, taking the transaction value to ₹428.44 crore. Details of the buyers of Vodafone Idea’s shares could not be identified on the exchange.

Waaree Renewable Technologies has secured a solar project worth ₹345 crore in Rajasthan from a prominent domestic renewable energy generation company. The project is scheduled for completion in the financial year 2025-26, the company said.

Wipro has won a multi-year deal with Entrust, a global leader in identity-centric security solutions. Wipro will provide strategic resources, scale, and agility to help Entrust accelerate its growth, by using cutting-edge industry practices to assist Entrust in product development, infrastructure, and application modernisation.

Tech Mahindra has bagged a multi-year contract from The Netherlands-based Hanab to modernise its IT infrastructure. Without disclosing the financial details of the deal, TechM said the partnership aims to streamline operations and implement next-generation technologies to support Hanab’s growth aspirations.

The Competition Commission of India has cleared private equity major Warburg Pincus’ proposal to acquire a 10 per cent stake in private sector lender IDFC First Bank. The US-based Warburg Pincus, will acquire the stake through its arm Currant Sea Investments BV. “The proposed combination entails the acquisition of up to 9.99 per cent of the paid-up share capital (on a fully diluted basis) of IDFC First Bank Ltd by way of subscription to 81,26,94,722 compulsorily convertible cumulative preference shares (CCPS) by Currant Sea Investments BV,” the Competition Commission of India (CCI) said in a release.

TVS Supply Chain Solutions, a provider of end-to-end supply chain services across multiple industries, on Tuesday said its North American subsidiary has received the John Deere ‘Partner-Level status’ for 2024 under the company’s Achieving Excellence Programme.

ONGC on Tuesday said it is losing money in Assam because of low production and high employee headcount, as it countered allegations of protesting employees over stoppage of contentious overtime payment. In a statement, Oil and Natural Gas Corporation (ONGC) emphasised that it is hiring locally and is investing heavily in the local community in Assam. Reacting to a sit-in by members of the ONGC Purbanchal Employees’ Association (OPEA) at the Assam Asset in Nazira, the company said the demonstration, while peaceful, has been primarily initiated as a protest against discontinuation of a particular overtime payment, “which was not admissible”.

Vedanta Ltd is to raise ₹4,100 crore through unsecured non-convertible debentures, to repay existing debt and meet capex needs, sources said. According to a PTI report, the base issue of ₹4,100 crore, along with a greenshoe option, allows the company to raise up to ₹5,000 crore. The proceeds would be used for general corporate purposes, repayment / prepayment of the existing debt and for capital expenditure requirements.

Published on June 4, 2025