The Indian market is likely to open lower today as SGX Nifty fell 21 points to 15,294. In the previous session, Sensex declined 135.37 points or 0.26 per cent to settle at 51,360.42. During the day, the benchmark tanked 574.57 points or 1.11 per cent to its one-year low of 50,921.22. Nifty fell 67.10 points or 0.44 per cent to close at 15,293.50.
Titan, Wipro, Dr Reddy's, Asian Paints, Sun Pharma, PowerGrid, Larsen & Toubro, UltraTech Cement, Maruti, TCS and Hindustan Unilever were the biggest Sensex losers, falling up to 6.06 per cent. Bajaj Finance, Bajaj Finserv, Reliance Industries and ICICI Bank were among the top Sensex gainers, rising up to 2.63 per cent.
Here's a look at stocks that are likely to remain in news today.
Adani Wilmar: The FMCG firm has reduced the prices of its edible oils by Rs 10 following the government's move to reduce import duties on the commodity.
Nazara Technologies: The gaming company has decided to make a further strategic investment of up to Rs 20.1 crore in material subsidiary Absolute Sports.
Cipla:The pharma major will buy 21.05 per cent stake for Rs 25 crore in Achira Labs Pvt Ltd.
ICICI Bank, Axis Bank: The global rating agency Moody's Investors Service has upgraded the baseline credit assessments of ICICI Bank and Axis Bank, reflecting improvements in credit fundamentals, particularly asset quality. The global rating agency has upgraded the baseline credit assessments (BCAs) to baa3 from ba1.
Delhivery: The logistics provider has launched a same-day delivery system in 15 cities across India. This new service will allow direct to consumer (or D2C) brands to deliver their website orders on the very day the order is received.
Canara Bank: The state-run lender aims to raise its bottom line further with balanced focus on advances to retail, big and small businesses, coupled with greater focus on digitisation.
Poonawalla Fincorp: Two individuals sold shares of the leading NBFC for Rs 120 crore through an open market transactions. Sanjay Chamria and Mayank Poddar sold a total of 52.48 lakh shares of Poonawalla Fincorp, according to block deal data. The shares were disposed of at an average price of Rs 229 apiece.
Zydus Wellness: The drug firm said it will cease operations at its Sitarganj production facility in Uttarakhand as part of a manufacturing and supply chain network optimisation exercise. The board of directors of the company at their meeting passed a resolution to cease the operations of Sitarganj manufacturing facility with effect from June 18, 2022.
Vadilal Industries: The firm, through its arm Vadilal Industries USA Inc, has acquired KKC. The subsidiary signed a stock purchase agreement with ice-cream parlour operator Krishna Krupa Corporation, USA (KKC) for a subscription of shares, which would result in the subsidiary holding up to 100 per cent voting rights in KKC. The cost of acquisition is $0.25 million.
Aurobindo Pharma: Aurobindo purchased a 51 per cent stake in GLS Pharma, which operates in the oncology business and has a manufacturing facility in Hyderabad. The acquisition cost for a 51 per cent stake is Rs 28.05 crore.
Dilip Buildcon: Dilip Buildcon's joint venture company RBL-DBL has been declared as the L-1 bidder for the Surat Metro Rail Project in Gujarat. The order is worth Rs 1,061 crore. The company also received the completion certificate for two road projects in Karnataka.
Galaxy Surfactants: SBI Mutual Fund offloaded 1 lakh equity shares in the company via open market transactions on June 16. With this, its shareholding in the company has been reduced to 2.98 per cent from 3.27 per cent.
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