Stocks in news: Reliance Industries, Rallis India, Indian Bank, Infosys and more


Sensex and Nifty were likely to open flat as  Nifty futures on the Singapore Exchange were trading just 11 points, or 0.07 per cent higher at 15,849.  On Thursday, bechmark indices closed higher led by gains in IT stocks ahead of Infosys  Rs 9,200-crore share buyback. Sensex closed 392.92 points or 0.75 per cent higher at 52,699 and Nifty surged 103.50 points or 0.66 per cent to 15,790.

Here’s a look at stocks which are likley to remain in news today.

RIL: Reliance Industries Chairman Mukesh Ambani has announced a mega Rs 75,000 crore investment plan in clean energy over the next three years. He said RIL has started work on developing the Dhirubhai Ambani Green Energy Giga Complex on 5,000 acres in Jamnagar.

LIC Housing Finance: LIC will infuse equity capital worth about Rs 2,334.70 crore into its subsidiary LIC Housing Finance by buying an additional stake in the company. LIC Housing Finance will issue shares at Rs 514.25 apiece to its promoter Life Insurance Corporation of India (LIC) on a preferential basis.

Bank of Maharashtra: The state-owned lender received shareholders’ nod to raise up to Rs 5,000 crore equity capital through various modes, including rights issue and preference issue.

Indian Bank: The PSU lender said it has raised Rs 1,650 crore through the QIP launched earlier this week. In March this year, the committee of directors of capital raising of the bank (committee) had accorded approval for raising equity capital aggregating up to Rs 4,000 crore through QIP in one or more tranches.

Rallis India: The firm plans to enhance manufacturing capacities as well as build a new integrated research development center, and is in the process of launching new products.

Union Bank of India: The state-owned lender has raised Rs 850 crore by issuing Basel-III-compliant bonds on a private placement basis. The bank has allotted Basel-III-compliant tier-II bonds, which are in the nature of debentures eligible for inclusion in tier-II capital, aggregating to Rs 850 crore.

Future Retail: Future Retail Ltd has sought extension till July 31, 2021 to file its results for the quarter and year ended March 31, 2021. In order to safeguard its employees, it has not yet completely started its key offices in Mumbai, Future Retail Ltd said in a filing to the stock exchanges.

Bodal Chemicals: The company reported a consolidated profit at Rs 21.73 crore in Q4FY21 against Rs 25.84 crore in Q4FY20. Revenue rose to Rs 432.73 crore from Rs 368.47 crore YoY.

Majesco: Promoter Aurum Platz IT Pvt Ltd bought 14.31% stake in the company via off market transaction, taking total shareholding to 34.57% from 20.26% earlier.

NBFCs: The Reserve Bank of India (RBI) on Thursday put in place certain conditions for non-banking financial companies (NBFCs) to pay dividend to shareholders from financial year ending March 31, 2022.CEAT: The tyre maker said it has launched a new range for compact SUVs. SecuraDrive range would cater to the fast-growing compact SUV segment. The new range of tyres offers numerous benefits like precise steering control and cornering stability.

Greaves Cotton: The Indian engineering firm will launch two high-speed electric two-wheelers in two years as it looks to benefit from the growing demand for battery-powered vehicles in the country.

Infosys: The Rs 9,200 crore share buyback by the IT firm will begin today.


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