Benchmark indices were likely to start lower today amid weak trading among Asian equities. On Wednesday, Indian equity market closed higher as IT stocks rallied ahead of Infosys Q1 earnings. Sensex ended 134 points higher at 52,904 and Nifty advanced 41.60 points to 15,853.
Top Sensex gainer was Tech Mahindra rising over 2 per cent, followed by HCL Tech, Infosys, L&T, Tata Steel and ITC.
Here’s a look at stocks that are likely to remain in news today.
Cadila Healthcare: The company has completed the sale of its animal healthcare business Zydus Animal Health and Investments Ltd to Zenex Animal Health India Pvt. Ltd.
Dodla Dairy: The company reported revenue from operations worth Rs 530.5 crore in Q4FY21 compared to Rs 527.4 crore in Q4FY20. EBITDA came at Rs 36 crore compared to Rs 14.1 crore a year ago. Annual revenue from operations stood at Rs 1,944.0 crore compared to Rs 2,139.4 crore in the previous year. EBITDA rose 72% to Rs 242.5 crore against Rs 140.9 crore a year ago.
Aptech: Ace investor Rakesh Jhunjhunwala, his wife Rekha Jhunjhunwala and eight others have settled the Aptech insider trading case with Sebi (Securities and Exchange Board of India), by agreeing to pay a settlement fee of Rs 37 crore. The case dates back to 2016.
Reliance Power: Shareholders of the company have approved the preferential issue of 59.50 crore shares and 73 crore warrants worth Rs 1,325 crore to Reliance Infrastructure. Shareholders have also cleared fund raising via issue of foreign currency convertible bonds up to 50% of the company’s net worth and through QIPs up to 25% of Reliance Power’s net worth.
Infosys: Infosys reported a net profit of Rs 5,195 crore for April-June quarter, 2.3 per cent higher than Rs 5,076 crore profit recorded in Q4 FY21. On a year-on-year basis, the consolidated net profit rose 22.7 per cent from Rs 4,233 crore in April-June 2020.
Marico: The firm has announced a strategic investment in Apcos Naturals Private Limited with an acquisition of a 60 percent equity stake for an undisclosed consideration. Apcos Naturals is the maker of ayurvedic beauty brands Just Herbs, co-founded by CEO Arush Chopra and Brand Director Megha Sabhlok, in 2010.
L&T Technology Services: The arm of L&T reported an 84 per cent jump in its June quarter net at Rs 216.2 crore, largely on widening margins. The city-based company, the engineering and research and development services arm of the infra major L&T, had posted a net profit of Rs 117.2 crore in the year-ago period.
Adani Green Energy: The firm has received shareholders’ approval to raise its borrowing limit to Rs 25,000 crore from the existing Rs 15,000 crore in the annual general meeting held on July 13, 2021.
Tata Consultancy Services: TCS has announced plans to expand its operations in Arizona in the US and invest more than $300 million (about Rs 2,236 crore) by 2026.
Adani Transmission: Adani Electricity Mumbai has listed its $2 billion global medium term note programme on BSE-owned India International Exchange’s debt listing platform, the bourse said.
Maruti Suzuki India: The country’s largest carmaker is planning to invest around Rs 18,000 crore on a new manufacturing facility in Haryana. The new plant would replace the company’s Gurugram-based facility and is expected to have an installed production capacity of 7.5-10 lakh units per annum. While confirming the Rs 18,000-crore investment plan, MSI Chairman RC Bhargava said that the company had always planned to shift the Gurugram facility to a nearby location.