The Indian equity market is likely to open lower today as SGX Nifty fell 78 points to 16,213. Sensex ended 364 points lower at 54,470 and Nifty lost 109 points to 16,301 on Monday. Top Sensex losers were Reliance Industries, IndusInd Bank, Nestle India, Tata Steel and Tech Mahindra falling up to 3.97 percent. PowerGrid, HCL Tech, Infosys and Maruti Suzuki were among the top Sensex gainers, rising up to 2.83 percent.
Here are the stocks that are likely to remain in news today.
Ambuja Cements, ACC: Indian metals-to-cement conglomerate JSW Group will make a $7 billion bid for Holcim AG's Indian subsidiaries Ambuja Cements Ltd and ACC Ltd, the Financial Times reported on Tuesday. The company will offer $4.5 billion in its own equity and $2.5 billion from undisclosed private equity partners for the bid, JSW Group Chairman Sajjan Jindal told the newspaper, adding that it will acquire 63% stake in Ambuja Cements.
Rainbow Children's Medicare: The company will make its market debut today. The issue price has been fixed at Rs 542 per share.
Adani Ports and Special Economic Zone: The firm moved the Bombay High Court challenging the disqualification of its bid in connection with a tender issued by state-run Jawaharlal Nehru Port Authority (JNPA) for upgradation of the latter's container terminal in Navi Mumbai.
HCL Technologies: The global technology said that it will acquire Bengaluru-based Quest Informatics Private Limited (Quest), an aftermarket, industry 4.0 and IoT company. The acquisition will be an all-cash deal through HCL'S wholly-owned subsidiary firm, the company said in its statement. "Quest will help expand HCL Technologies' Industry 4.0 offerings into the fast-growing aftermarket space. Quest's suite of aftermarket solutions and products will be valuable to transportation and manufacturing clients globally in their digital transformation journey," said Sukamal Banerjee, Corporate Vice President, Industry Software Division and IoT WoRKS, HCL Technologies.
Paytm: Payments major Paytm's parent company One97 Communications has increased its Employee Stock Option Plan (ESOPs) to the employees even as the share prices of the company continues to fall.
Paytm, however, hasn't disclosed the number of employees who have been granted the new ESOPs. The company said that it has granted 3.97 million stock options to the eligible employees. Each stock option is convertible into one fully paid these options up equity share having face value of Rs 1 each.
Asian Paints: The firm will report its Q4 earnings today.
PVR: Multiplex chain operator reported narrowing of its consolidated loss after tax at Rs 105.49 crore for quarter ended 31 March, 2022. The company had reported a net loss of Rs 289.12 crore in the year-ago period. PVR's revenue from operations surged 196.68 per cent to Rs 537.14 crore in the quarter under review as against Rs 181.46 crore in the same quarter last fiscal.
Campus Activewear: Motilal Oswal Mutual Fund has purchased 32 lakh shares of Campus Activewear in bulk deals. The fund house bought 16 lakh shares at Rs 360 per share and another 16 lakh shares of ?364.97 apiece.
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