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The Indian equity market is likely to open lower today as SGX Nifty fell 119 points to 16,547. On Friday, Sensex closed 1,328 points higher at 55,858 and Nifty rose 410 points to 16,258. Tata Steel, IndusInd Bank, NTPC and Bajaj Finance were the top Sensex gainers, rising up to 6.54%
Of 30 Sensex stocks, 28 ended in the green. Market cap of BSE-listed firms rose to Rs 250 lakh crore against the previous session’s Rs 242 lakh crore.
Here’s a look at stocks that are likely to remain in news today.
Future Retail: The retail firm suspended most of its online and offline operations as stores remained shut on Sunday, after rival Reliance bid to take over its flagship supermarkets for missed lease payments.
Bharti Airtel: Shareholders of Bharti Airtel have approved the issue of equity shares to Google on “a preferential basis” after the US-based tech giant recently purchased 1.28% stake in the telco for $700 million.
Hindalco Industries: The aluminium producer has signed an agreement with Brazilian firm Terrabel Empreedimentos to sell entire equity shareholding in the wholly-owned step-down subsidiary Hindalco Do Brazil Industria Comercia de Alumina LTDA.
Fortis Healthcare : Rating agency CRISIL has upgraded long term rating to ‘AA-, from ‘A+’ for the private hospitals’ chain, and placed the rating on watch with developing implications. Further, the short-term rating has been upgraded to A1+, from ‘A1’ and placed the rating on watch with developing implications.
Hinduja Global Solutions: The company’s arm HGS International Mauritius has completed the buyout of the Australian company Diversify. HGS International Mauritius inked a definitive agreement to acquire a 100 percent equity stake in Diversify Offshore Staffing Solutions Pty Ltd, Australia in January this year .
SJVN: The government has given nod to the development of a 400MW solar park at Kinnaur to SJVN. These projects will assist SJVN in achieving its ambitious shared vision of 5000 MW by 2023, 25000 MW by 2030 and 50000 MW by 2040.
IRCON International: The company has won an order for “Construction of Road from Paletwa (Myanmar) to Zorinpuri (Mizoram) under Kaladan Multi Modal Transit Transport Project (KMMTTP)” in Myanmar, via EPC mode at a cost of Rs 1,780 crore by Ministry of External Affairs.
Patel Engineering: The company’s arm Patel Energy Resources has sold its entire stake in Nepal arm Naulo Nepal Hydroelectric for Rs 11.53 crore.
Mahindra Lifespace Developers: Kotak Mahindra Mutual Fund has purchased additional 2.19 lakh equity shares through open market transactions on February 23. Now, its stake in the firm has gone up to 5.13 percent, against 4.98 percent earlier.
Rain Industries: The company reported a loss of Rs 72.3 crore in Q3 against a profit of Rs 322 crore in the year-ago period. Revenue rose 52 percent YoY to Rs 4,026 crore in Q4CY21.
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