Stocks To Watch On March 12: Wipro, KEC International, Motherson, Borosil, Redington In Focus

Several stocks are expected to remain in focus on March 12 after companies reported project wins, corporate actions, leadership changes and regulatory developments through exchange filings.

Companies including Wipro, Omnitech Engineering, KEC International, Samvardhana Motherson International, Vascon Engineers, Borosil, Relaxo Footwears, Hatsun Agro Product and Redington disclosed key updates that could influence investor attention during the trading session.

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Wipro Signs Technology Modernisation Deal

Wipro announced a multi-year contract with TruStage for business and technology modernisation of the company’s retirement services business. TruStage is an insurance and financial services provider headquartered in Madison, Wisconsin in the U.S.

The company said the engagement will focus on modernising technology platforms and business operations for the retirement services segment.

Omnitech Engineering said it has secured a five-year contract worth ₹920 crore from Weatherford Products GmbH through a Master Purchase Agreement.

Project Wins And Infrastructure Orders

KEC International said it has secured new orders worth ₹1,476 crore across transmission and distribution projects in India, the Middle East, Africa and the Americas.

With these new contracts, the company’s year-to-date order intake has reached ₹22,800 crore, according to its filing.

Vascon Engineers also reported receiving a work order worth ₹115.9 crore from Ahmedabad Municipal Corporation for the development of Lotus Park. The company said the project is scheduled to be completed within 24 months from the issuance of the work order.

Ashok Leyland announced the ground-breaking of a greenfield battery pack manufacturing facility in Chennai with an investment of ₹400 crore to ₹500 crore.

Strategic Transactions And Corporate Actions

Samvardhana Motherson International said it has entered into a share purchase agreement to acquire a 100% stake in Yutaka Autoparts India.

The transaction forms part of previously announced plans to acquire stakes in Japanese automotive component manufacturers Yutaka Giken Co Ltd and Shinnichi Kogyo through its subsidiary Motherson Global Investments BV.

The company also completed a tender offer to acquire additional shares in Yutaka Giken Co Ltd. According to the results announced on March 11, a total of 14,08,867 shares were tendered at a price of JPY 3,024 per share. The settlement date for the shares is March 17.

Operational And Management Updates

Borosil said production at its borosilicate glass furnace for pressware products has been temporarily suspended due to restrictions on liquefied petroleum gas supply. The company added that its opal glass furnaces in Jaipur are currently operating at lower capacity while it evaluates the impact of the disruption.

Relaxo Footwears announced that Prince Jain has resigned as Chief Financial Officer and Key Managerial Personnel with effect from March 11.

Hatsun Agro Product said the National Company Law Tribunal (NCLT), Cuttack, has approved the amalgamation of Milk Mantra Dairy with the company with effect from the appointed date of April 1, 2025.

Redington said that an order has been passed by the Commissioner of Income Tax (Appeals) that has quashed the tax demand amounting to ₹230.21 crore out of the total demand of ₹233.66 crore on the company for the assessment year 2020-21.

The stock market updates and announcements related to these companies are expected to keep these stocks in focus on March 12.