Stocks to Watch: TCS, Zomato, Aster DM Heathcare, PCBL, Ireda, Tata Power, BHEL

New Delhi: Following are the 10 stocks that could be in focus in Wednesday’s trade:

TCS: The ₹17,000 crore-share buyback programme of India’s top software services exporter Tata Consultancy Services (TCS) will open on 1 December. The buyback, where investors can sell to the company their shares at an offer price of ₹4,150 apiece, will close on 7 December, TCS said in a regulatory filing on Tuesday. The IT bellwether aims to repurchase up to 40.9 million shares (1.12% of the total equity share capital) at ₹4,150 apiece in a buyback valued at ₹17,000 crore.

Zomato Ltd: Ant Group’s payments platform Alipay is set to offload shares of Zomato Ltd in a $395 million block deal on Wednesday, according to a term sheet reviewed by Mint. Alipay’s share sale follows a partial stake sale by Softbank Group in the food delivery aggregator last month where the Japanese investor sold 1.1% stake for ₹1,200 crore. Alipay is selling 296 million shares in the online food delivery company and expects to raise ₹3,290 crore.

Aster DM Healthcare: The hospital chain will separate its mainstay Gulf business and sell it to its Indian promoters (Moopen family) and a Dubai consortium for $1.001 billion, in a move it said will unlock shareholder value and attract more institutional investors. A consortium led by United Arab Emirates government-backed Fajr Capital will own 65% of the Gulf entity, while Azad Moopen, the promoter of Aster, will own 35%, once the transaction is concluded.

PCBL Ltd: RP-Sanjiv Goenka Group’s PCBL Ltd has agreed to acquire 100% stake in Pune-based Aquapharm Chemicals Pvt. Ltd for ₹3,800 crore, beating rivals Dorf Ketal and Tata Chemicals Ltd. The acquisition will give PCBL, among the largest manufacturers of carbon black material in India, a crucial foothold in the specialty segments of water treatment chemicals and oil and gas chemicals.

Jubilant Foodworks: Jubilant Foodworks Netherlands BV, a wholly owned subsidiary of food services company Jubilant FoodWorks Ltd, is set to acquire 51.16% of DP Eurasia for €73.36 million. JFN already owns 48.84% ordinary shares of DP Eurasia, which operates as an exclusive master franchisee of the Domino’s Pizza brand in Turkey, Azerbaijan and Georgia.

Tata Power: Subsidiary Tata Power Renewable Energy has received a Letter of Award for developing a 200 MW firm and dispatchable renewable energy (FDRE) project with SJVN.

BHEL: Bharat Heavy Electricals Ltd (BHEL) has signed a Memorandum of Cooperation with Electricité de France, a French state-owned company, to explore the content of the Jaitapur Nuclear Power Plant Project set up by the Nuclear Power Corp. of India. The Jaitapur Nuclear Power Plant Project in Maharashtra is a light water reactor and a collaboration between the Indian and French governments. It has a capacity of 9.6 gigawatts and aims to provide electricity to around 70 million households.

Indian Renewable Energy Development Agency: State-owned financial Ireda will list its equity shares on the BSE and the National Stock Exchange on 29 November. The issue price has been fixed at ₹32 per share. Ireda’s ₹2150 crore-IPO was subscribed 38.80 times on its third and final day.

Canara Bank: The public sector lender has received approval from the Reserve Bank of India to divest its 70% stake in its unlisted subsidiary Canbank Factors. Separately, the lender which holds 69.14% stake in its unlisted subsidiary, Canbank Computer Services (CCSL), is also looking to buy out other shareholders – Bank of Baroda (BOB) and DBS Bank India (DBIL). Canara Bank is also exploring transferring the credit card and other digital product portfolio of the bank to CCSL.

Siemens India: Reported a 24.7% year-on-year rise in revenue to ₹5,808 crore and a 12.4% decline in net profit to ₹571.6 crore for the quarter ended September FY23. It announced an investment of ₹416 crore in capacity addition for power transformers and vacuum interrupters.