Stocks in news: Reliance Industries, IRCTC, Sun Pharma, Bharti Airtel, Paytm and more
On Thursday, benchmark indices ended lower for the third straight session, tracking losses in index majors L&T, Infosys and TCS amid a negative trend in global markets.
- Nov 22, 2021,
- Updated Nov 22, 2021 9:24 AM IST
On Thursday, benchmark indices ended lower for the third straight session, tracking losses in index majors L&T, Infosys and TCS amid a negative trend in global markets.
Sensex closed 372.32 points lower at 59,636 and Nifty fell 133.85 points to 17,764. M&M was the top Sensex loser, falling 3.28 per cent, followed by Tech Mahindra, L&T, HCL Tech, Tata Steel and IndusInd Bank.
Here are the stocks that are likely to be in focus today.
Reliance Industries: Mukesh Ambani-led Reliance Industries Ltd (RIL) has decided with Saudi Aramco to re-evaluate the latter's proposal to acquire a stake in the Indian conglomerate.
The RIL said in a statement on Friday that it has withdrawn its application with the National Company Law Tribunal (NCLT) for segregating its oil-to-chemicals (O2C) business, after arriving at a mutual decision with Saudi Aramco to reassess the oil giant's proposed around $15 billion investment in RIL's O2C business.
The development came in view of Reliance's new energy business plans and the "evolving nature of its business portfolio", RIL said in a statement.
Cadila Healthcare: Drug firm Zydus Cadila on Saturday said it has received approval from the US health regulator to market Decitabine injection, used to treat certain types of cancers, in the American market.
The company has received final approval from the US Food and Drug Administration (USFDA) to market Decitabine for Injection in the strength of 50 mg/vial single-dose vial, Zydus Cadila said in a statement.
IRCTC: The Railway Board on Friday issued an order to resume serving cooked meals to passengers on trains. The same was discontinued in view of Covid-19 pandemic. Officials, however, added that the date for resumption of the service is yet to be decided.
The Railway Board, in a letter, asked the Indian Railway Catering and Tourism Corporation (IRCTC) to resume the service.
Ready-to-eat meals will also continue to be served to passengers, the Railway board also said.
JSPL: India's Jindal Steel & Power Limited (JSPL) will start building a coal mine in Botswana's southeastern Mmamabula coalfields in 2022, aiming to supply the export market and a planned coal power plant, a company official said.
The Indian industrial giant aims for the mine to produce 4.5 million tonnes of coal per year.
Sun Pharma: Drug major Sun Pharmaceutical Industries is recalling over 1.10 lakh bottles of a generic medication used to treat erectile dysfunction in men in the US market due to a manufacturing error. The US arm of the domestic pharma major is recalling Tadalafil tablets in the American market, according to the latest enforcement report of the US Food and Drug Administration (USFDA).
Bharti Airtel: Telecom giant Bharti Airtel has announced the list of revised mobile tariffs, which will come into effect from November 26. Revising tariffs is the first step to ensure that the mobile Average Revenue per Unit (ARPU) remains between Rs 200-300 to ensure a financially healthy business model. The Rs 79 plan, for instance, will cost Rs 99 from November 26.
“Bharti Airtel has always maintained that the mobile Average Revenue per Unit (ARPU) needs to be at Rs 200 and ultimately at Rs 300, so as to provide a reasonable return on capital that allows for a financially healthy business model,” the official release read.
Paytm: Financial services firm Paytm on Sunday said it saw a 418 per cent year-on-year (YoY) increase in value of loans disbursed through it in October at Rs 627 crore, while the number of loans disbursed grew 472 per cent YoY to 13 lakh.
The recently-listed company also said that its board will meet on November 27 to consider and approve the financial results for the quarter and half year ended September 30, 2021.
"Our financial institution partners disbursed a total of 1.3 million loans in October 2021 aggregating to a total disbursal of Rs 6,270 million ($84 million), implying a 472 per cent increase in numbers of loans disbursed Y-o-Y and 418 per cent increase in value of loans disbursed Y-o-Y," the company said in an exchange filing.
On Thursday, benchmark indices ended lower for the third straight session, tracking losses in index majors L&T, Infosys and TCS amid a negative trend in global markets.
Sensex closed 372.32 points lower at 59,636 and Nifty fell 133.85 points to 17,764. M&M was the top Sensex loser, falling 3.28 per cent, followed by Tech Mahindra, L&T, HCL Tech, Tata Steel and IndusInd Bank.
Here are the stocks that are likely to be in focus today.
Reliance Industries: Mukesh Ambani-led Reliance Industries Ltd (RIL) has decided with Saudi Aramco to re-evaluate the latter's proposal to acquire a stake in the Indian conglomerate.
The RIL said in a statement on Friday that it has withdrawn its application with the National Company Law Tribunal (NCLT) for segregating its oil-to-chemicals (O2C) business, after arriving at a mutual decision with Saudi Aramco to reassess the oil giant's proposed around $15 billion investment in RIL's O2C business.
The development came in view of Reliance's new energy business plans and the "evolving nature of its business portfolio", RIL said in a statement.
Cadila Healthcare: Drug firm Zydus Cadila on Saturday said it has received approval from the US health regulator to market Decitabine injection, used to treat certain types of cancers, in the American market.
The company has received final approval from the US Food and Drug Administration (USFDA) to market Decitabine for Injection in the strength of 50 mg/vial single-dose vial, Zydus Cadila said in a statement.
IRCTC: The Railway Board on Friday issued an order to resume serving cooked meals to passengers on trains. The same was discontinued in view of Covid-19 pandemic. Officials, however, added that the date for resumption of the service is yet to be decided.
The Railway Board, in a letter, asked the Indian Railway Catering and Tourism Corporation (IRCTC) to resume the service.
Ready-to-eat meals will also continue to be served to passengers, the Railway board also said.
JSPL: India's Jindal Steel & Power Limited (JSPL) will start building a coal mine in Botswana's southeastern Mmamabula coalfields in 2022, aiming to supply the export market and a planned coal power plant, a company official said.
The Indian industrial giant aims for the mine to produce 4.5 million tonnes of coal per year.
Sun Pharma: Drug major Sun Pharmaceutical Industries is recalling over 1.10 lakh bottles of a generic medication used to treat erectile dysfunction in men in the US market due to a manufacturing error. The US arm of the domestic pharma major is recalling Tadalafil tablets in the American market, according to the latest enforcement report of the US Food and Drug Administration (USFDA).
Bharti Airtel: Telecom giant Bharti Airtel has announced the list of revised mobile tariffs, which will come into effect from November 26. Revising tariffs is the first step to ensure that the mobile Average Revenue per Unit (ARPU) remains between Rs 200-300 to ensure a financially healthy business model. The Rs 79 plan, for instance, will cost Rs 99 from November 26.
“Bharti Airtel has always maintained that the mobile Average Revenue per Unit (ARPU) needs to be at Rs 200 and ultimately at Rs 300, so as to provide a reasonable return on capital that allows for a financially healthy business model,” the official release read.
Paytm: Financial services firm Paytm on Sunday said it saw a 418 per cent year-on-year (YoY) increase in value of loans disbursed through it in October at Rs 627 crore, while the number of loans disbursed grew 472 per cent YoY to 13 lakh.
The recently-listed company also said that its board will meet on November 27 to consider and approve the financial results for the quarter and half year ended September 30, 2021.
"Our financial institution partners disbursed a total of 1.3 million loans in October 2021 aggregating to a total disbursal of Rs 6,270 million ($84 million), implying a 472 per cent increase in numbers of loans disbursed Y-o-Y and 418 per cent increase in value of loans disbursed Y-o-Y," the company said in an exchange filing.