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Shares of Tata Steel, Ultratech Cement, and Coforge are likely to be in focus on Wednesday due to developments related to acquisitions. While CE Info Systems is expected to trend due to a block deal, Tantia Constructions may be in the limelight due to an order it received. Shares of Zee Entertainment are expected to be buzzing, too read more
 "Shares of Tata Steel, Ultratech Cement, Coforge, Tantia Constructions, and Zee Ent in focus")
Dalal Street is expected to start the day's trade flat on June 26. PTI
The GIFT Nifty index, around 8:40 am, was down 6 points or 0.03 per cent at 23,714.5. It hinted at a flat start for Dalal Street on Wednesday. The India VIX, an indicator of volatility in the stock market, was up 1.81 per cent at 14.31 points.
Global cues remained mixed. In the US, a rebound in Nvidia shares pushed the Nasdaq higher by 1.3 per cent. Dow Jones closed down 0.8 per cent, while the broad-based S&P 500 closed 0.4 per cent higher. Asian markets traded mostly lower.
Ahead of the stock market opening on Wednesday, here’s a look at stocks to watch.
Tata Steel: Tata Steel has acquired a 14.28 per cent stake in Indian Foundation for Quality Management for Rs 12.5 crore. IFQM has been incorporated with an aim to empower and encourage the Indian organisations in diverse sectors to embrace and integrate quality values, principles, and practices in all aspects of management.
UltraTech cement: UltraTech Cement Middle East Investments Limited, a wholly-owned subsidiary of the company in the UAE, has revised its offer to purchase 125,039,250 shares of Ras Al Khaimah Co. for White Cement and Construction Materials PSC (RAKWCT). This represents 25 per cent of the share capital of RAKWCT, as opposed to the previously made offer for 31.6 per cent stake.
Coforge: The Competition Commission of India (CCI) on Tuesday approved Coforge’s acquisition of a 54 per cent majority stake in Cigniti Technologiest.
Tantia Constructions: Tantia Constructions has received an order amounting to Rs. 7.39 crore from Government of Tripura for construction of residential quarters.
CE Info Systems: Promoter Rakesh Kumar Verma is expected to sell a 0.9 per cent stake in the company through a block deal, as per sources cited by CNBC-Awaaz. The floor price for the deal is Rs 2,293.20 per share, with a total offer size of Rs 114.6 crore.
Zee Entertainment: The National Company Law Tribunal (NCLT) has approved the withdrawal of the implementation application for the composite scheme of arrangement with Sony.
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