Stocks in news: SBI, Tata Motors, IRCTC, Wipro and more

Benchmark indices closed higher on Wednesday, extending the previous session's rally amid lower level of inflation on domestic front and better-than-expected inflation readings from the US. 

Sensex climbed 144.61 points or 0.23 per cent to end at 62,677.91. During the day, it rose 301.81 points or 0.48 per cent to 62,835.11. Nifty advanced 52.30 points or 0.28 per cent to end at 18,660.30. 

Here’s a look at stocks that are likely to remain in news today.  

State Bank of India: Country's largest state-run lender said its board has cleared Rs 10,000 crore capital raising plan through Tier I bonds. The fund raising through Additional Tier 1 (AT1) capital up to an amount of Rs 10,000 crore is subject to Government of India concurrence. 

Wipro: Wipro has announced the launch of new financial services advisory company, Capco in the Middle East. Capco will offer strategic management and technology consulting capabilities to financial services firms in the Middle East to enable their transformation, digitisation, and business consolidation initiatives. 

Tata Motors: The auto major said it has signed a pact with Everest Fleet Pvt Ltd to supply 5,000 units of XPRES-T EVs. As part of the deal, the company handed over 100 units to Mumbai-based Everest Fleet. 

Power Grid Corporation: A committee of directors of state-owned has cleared a proposal to invest Rs 330.61 crore in a transmission project. A decision in this regard was taken by the company's 'committee of directors on investment on projects. 

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IRCTC: The government will offload up to 5 per cent stake in IRCTC through an offer for sale (OFS) at a floor price of Rs 680 a share to fetch up to Rs 2,700 crore. The OFS includes base issue size of 2 crore shares or 2.5 per cent stake, with an option to retain over-subscription of another 2.5 per cent, taking the total issue size to 4 crore shares or 5 per cent. 

Poonawalla Fincorp: The non-banking arm of the vaccine major Cyrus Poonawalla Group has announced sale of its housing subsidiary Poonawalla Housing Finance to private equity major TPG for Rs 3,900 crore.  

AstraZeneca Pharma India: The drug player said Gagandeep Singh Bedi has resigned from the post of managing director. It has approved the appointment of Sanjeev Panchal as its managing director for a period of three years with effect from January 1, 2023. 

VRL Logistics: The promoter Vijay Basavanneppa Sankeshwar sold a 5.4 per cent stake or 47.92 shares in the logistics company at an average price of Rs 570 per piece for over Rs 273.14 crore through an open market transaction, according to the bulk deal data available with the NSE. 

Shriram Properties: The realty firm will invest up to Rs 125 crore for development of a stressed project in Benglauru. The company said it has completed the 'acquisition of 'Golden Ira', a plotted development project of the Golden Gates Group that was a stressed asset with lending entities part of the IIFL Group.' 

Also Read: Stocks in news: Tata Motors, ICICI Bank, Macrotech Developers, KEC International and more