Stocks to watch- Zomato, L&T, Sun Pharma, LTIMindtree, Schaeffler India

Stocks to watch: Zomato, L&T, Sun Pharma, LTIMindtree, Schaeffler India

Here is a look at some of the top stocks to watch out for in trade today-

Zomato: A Tiger Global-backed VC fund, Internet Fund III offloaded 1.43% stake via a block deal on Monday. At Rs 91 a share, the deal value amounted to Rs 1,115 crore. The stock closed Monday’s trade up 1.5% and the key buyers included Kotak MF (41 million shares), Societe General (38.4 million), Axis MF (19.7 million), and Morgan Stanley Asia (15.3 million). Goldman Sachs Singapore, Citigroup Global Markets Mauritius, and BNP Paribas Arbitrage were other buyers.

Sun Pharma: The drugmaker is in news on plans to allocate 7-8% of sales this financial year towards R&D. It aims to increase specialty and also widen the range of products across categories.

LTIMindtree: The company announced a strategic collaboration with CAST AI, a leading SaaS company that specializes in automated cost optimization for customers who run their cloud-native applications on Google Cloud, AWS, and Microsoft Azure. The partnership will help companies save, on average, over 60 percent on cloud costs as they modernize legacy applications for cloud migration.

Schaeffler India:The company has approved the acquisition of 100 percent of the shares of KRSV Innovative Auto Solutions (Koovers), a Bengaluru-based spare parts solutions company for approximately Rs 142 crore. This company serves the aftermarket workshops via a B-to-B e-commerce platform.