Stocks in news: RIL, Tata Motors, Tech Mahindra, NCC and more


Indian stock market is likely to open on a flat note today as SGX Nifty was trading 3 points higher at 17,695. On Monday, Sensex ended 929 points higher at 59,183 and Nifty rallied 271 points to 17,625 in the first trading session of 2022.

Market cap of BSE-listed firms rose to Rs 269.49 lakh crore. Bajaj Finance was the top  Sensex gainer, rising 3.50 per cent, followed by Bajaj Finserv, Tata Steel, ICICI Bank and IndusInd  Bank. Dr Reddy’s, M&M, Tech Mahindra and Nestle India were the only Sensex losers falling up to 1.13%.

Here’s a look at stocks that are likely to remain in news today.

Marico: The FMCG player clocked double-digit revenue growth for the quarter ended December. Consumption was seen slowing in the entire sector with inflation affecting disposable incomes.

Lemon Tree Hotels: Goldman Sachs (Singapore) Pte has purchased 30 lakh shares amounting to 0.38 percent stake in Lemon Tree Hotels from Zaaba Pan Asia Master Fund in a block deal.

Granules India: The board has appointed Kandiraju Venkata Sitaram Rao as joint managing director and the chief executive officer with effect from January 5.

Dilip Buildcon: The company has won an order worth Rs 2,680 crore from South Eastern Coalfield Limited (SECL), a subsidiary of Coal India Limited.

HDFC: The company has disbursed loans worth Rs 7,470 crore in October-December against Rs 7,080 crore in the corresponding period last year.

Karnataka Bank: The bank’s deposits climbed 6.3 percent YoY as of December 31 and gross loans rose 5 percent.

Tata Motors: CLSA has lowered its rating on the Tata Group auto firm to ‘sell’ from ‘buy’ and reduced its target price. The firm’s domestic passenger vehicle business is overvalued while JLR lags in electrification. The brokerage has reduced its target price  to Rs 408 against the earlier Rs 450.

Reliance Industries: Sterling and Wilson Renewable Energy Ltd (SWREL) said Reliance New Energy Solar Ltd (RNESL), a wholly owned subsidiary of Reliance Industries, has become its promoter post payment of balance Rs 1,583 crore for purchase of 25.90 per cent equity in it.

Tech Mahindra: The IT company said it has achieved the Data Analytics specialisation certification in the Google Cloud Partner Advantage Program, strengthening its expertise in data analytics space.

Vedanta: The miner said the cast metal aluminium production at its smelters rose 16% to 5,79,000 tonnes in the third quarter of the current fiscal.

NCC: The construction and engineering player eceived five new orders worth Rs 1,898 crore in December. Three orders worth Rs 988 crore relate to the building division and the remaining two orders of Rs 910 crore pertain to the water division.

Hindustan Zinc: The Vedanta group firm clocked a 11 per cent increase in integrated metal production at 2,61,000 tonnes in the third quarter of this fiscal. The company’s integrated metal production stood at 2,35,000 tonnes in the year-ago period.


Source link

Leave a comment

Your email address will not be published. Required fields are marked *

17 − nine =