Stocks in news: Wipro, United Spirits, Strides Arcolabs, Orbit Corp, Ashok Leyland

MUMBAI: The Nifty is set to break-out of the narrow trading range and rally over one per cent after the exit polls are indicating that BJP will emerge victorious in three states.

At 08:30 a.m.; the SGX Nifty was at 6290, up 1.44 per cent.

Following stocks are likely to be in action in trade today:

Wipro: The company will be discontinue making branded desktops, laptops and servers

United Spirits: It will soon appoint investment bankers for Whyte & Mackay sale. Citigroup, BofA, JP Morgan and UBS have made initial pitches, say reports.

Strides Arcolab: Mylan has completed acquisition of Agila (Strides injectables arm). Strides will get $1.5 billion for sale of Agila sale. It may also get additional $250 million contingent consideration for deal.

Shriram City Union Finance: Goldman Sachs has initiated coverage with neutral rating and target of Rs 1120. The brokerage has factored in inclusive growth into price.

Orbit Corporation: Three properties owned by the developer were attached by Life Insurance Corporation Housing Finance for non-repayment of Rs 96- crore loan under the Securitisation Act.

Ashok Leyland: Five hundred employees of truck maker Ashok Leyland opted for the voluntary retirement scheme that the company offered last month in order to cut costs. The terms of the severance package is not known yet.

Bharti Airtel: The company said its Euro 750-million ($1 billion) corporate bond issue elicited enthusiastic response and was oversubscribed more than five times with participation from 370 high-quality accounts.

Power Grid Corporation: The follow-on-public offer (FPO) of Power Grid Corporation was fully subscribed on the second day of the issue. Of the 78.70 crore shares offered for sale, the total number of bids received was 78.61 crore till 1600 hrs. The number of bids at cut off price was 2.5 crore.

NTPC: the state-run power major received an overwhelming response for its bond issue by garnering Rs 3,310 crore, much ahead of its scheduled closing.

"The issue was oversubscribed by 3.3 times. As against Rs 1,000 crore, NTPC has already collected about Rs 3,310 crore, Rs 2,310 crore above the base size," the company said in a statement.