5 midcap stocks that investors should have on their radar on 13 July
Check out the midcap companies making headlines in the morning trade session.
Among the midcap companies, Sterling and Wilson Renewable Energy, RITES Ltd, City Union Bank, Syngene International and UCO Bank are among the stocks in the news on Wednesday. Let us see why!
Sterling and Wilson Renewable Energy - This S&P BSE 500 company is witnessing a sell-off on the bourses today. On Tuesday, after the market hours, the company reported its results for the quarter that ended on 30 June 2022. As per the exchange filing, the company’s net revenue declined 6.27% YoY to Rs 793.32 crore. Further, due to higher expenses, the company has incurred a net loss of Rs 104 crore as against a loss of Rs 35 crore in the corresponding quarter last year. Owing to this, the share price of the company has tumbled nearly 6%. At 12.10 pm on Thursday, the stock was trading at Rs 291, down by 5.96% or Rs 18.45 per share.
RITES Ltd - The shares of RITES Ltd are buzzing on the bourses today. This morning, the company announced that it has signed a memorandum of understanding (MoU) with the Centre for Railway Information Systems (CRIS) to explore information technology-based opportunities in the railway sector and new-age areas. As a part of this collaboration, both parties will devise smart, intelligent IT solutions for railway operations, apart from modernizing existing technology and telecommunication in the sector. At 12.10 pm on Thursday, the stock was trading at Rs 233.40, up by 0.63% or Rs 1.45 per share.
City Union Bank Ltd - City Union Bank, a part of the S&P BSE 500 index, is in the news today. Today, the bank has entered into a strategic partnership with Bajaj Allianz Life Insurance. Through this collaboration, the latter will offer its life insurance solutions to the customers of the Tamil Nadu-based bank. City Union Bank customers will be able to fulfil their long-term financial goals by investing in Bajaj Allianz Life value-packed products ranging from term, savings, retirement, and investment solutions. At 12.10 pm on Thursday, the stock was trading at Rs 149.30, up by 0.61% or Rs 0.90 per share.
Syngene International Ltd- The S&P BSE 200 company is trending on the bourses today. As per the exchange filing, the company has inked an agreement for the acquisition of renewable power by acquiring an equity stake of up to 26% in Ampyr Renewable Energy Resources Eleven (AREREPL). AREREPL is a Special Purpose Vehicle formed by Ampyr India Asset Holdings, for the generation and supply of solar power. At 12.10 pm on Thursday, the stock was trading at Rs 586.60, up by 2.75% or Rs 15.70 per share.
UCO Bank- UCO Bank from S&P BSE 500 space is in the news today. The bank’s shareholders have approved the equity capital raising plan of the bank during the financial year FY23. This will be done via an issue of up to 100,00,00,000 equity shares of Rs 10 each by way of various capital raising options at an appropriate time and premium. The bank would raise equity capital at an appropriate time in the current fiscal to support growth. At 12.10 pm on Thursday, the stock was trading at Rs 11.32, down by 0.26% or Rs 0.03 per share.
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