Benchmark indices rallied over 1 per cent on Wednesday amid foreign funds turning net buyers after a long gap and positive opening in European stock markets. Sensex climbed 616.62 points to end at 53,750.97 and Nifty gained 178.95 points to 15,989.80. Bajaj Finserv, Bajaj Finance, Hindustan Unilever, Asian Paints, Titan, Maruti Suzuki India, Kotak Mahindra Bank and Nestle were the top Sensex gainers, rising up to 4.54 per cent. Power Grid, NTPC, Reliance Industries, Larsen & Toubro and Tata Steel were the top Sensex losers, falling up to 1.63 per cent.
Here's a look at stocks that are likely to remain in news today.
Dabur: Home-grown FMCG firm Dabur said consumption pressure continued across the sector in the April-June quarter of FY23 on account of "unprecedented inflation", which has impacted the share of the income available for spending on consumer staples. "This was witnessed across urban and rural markets," said Dabur in its update for the quarter that ended on June 30, 2022.
Titagarh Wagons: HDFC Asset Management Company has offloaded 2.15 percent stake or 25.7 lakh shares in the company via open market transactions. With this, HDFC AMC's stake stands reduced to 7.02 percent, against 9.17 percent earlier.
Deep Industries: The company has received Letter of Awards from ONGC, for charter hiring of 1000 HP mobile drilling rigs for Ahmedabad asset for a period of 3 years. The total estimated value of the said awards is $19.02 million or Rs 150.24 crore.
Dr Reddy's Laboratories: Home-grown pharma major Dr Reddy's aims to triple its reach to 1.5 billion patients by 2030 as part of its sustainability goals, according to company chairman K Satish Reddy and co-chairman and managing director GV Prasad.
Titan: The Tata group firm said its sales in the April-June quarter were up nearly three-fold on a year-on-year basis, helped by a low base of the Covid-19 impacted quarter in the last year. Its network expansion and campaigns continued to progress well throughout Q1FY23, which was the non-disrupted first quarter in the last three years, said Titan in its quarterly updates. "Sales in Q1FY23 grew 205 per cent YoY on a low base and clocked 3-year CAGR of 20.5% over Q1FY20," Titan said.
TVS Motor Company: The company has forayed into the premium lifestyle segment by launching the industry-first 'modern-retro' motorcycle, the TVS RONIN.
Power Grid Corporation of India: The board of the state-owned power arm cleared two proposals to raise up to Rs 11,000 crore through the issuance of bonds and term loans. The proposals to raise Rs 11,000 crore have been approved in a meeting of the board of directors, July 6, 2022.
Macrotech Developers: The realty firm logged a nearly three-fold rise annually in its sales bookings at Rs 2,814 crore in the April-June quarter of this fiscal on strong demand for its residential properties. Macrotech Developers sells its properties under the Lodha brand.
PBA Infrastructure: The civil construction company said the board has approved voluntary delisting of equity shares of the company from NSE, but equity shares would remain to be listed on the BSE.
Punjab National Bank: The public sector lender said it has raised Rs 2,000 crore by issuing Basel III compliant bonds to certain investors on a private placement basis. The bank has issued and allotted Basel III compliant additional tier-I bonds at a coupon rate of 8.75 per cent per annum aggregating to Rs 2,000 crore on private placement basis.
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