The Indian market is likely to open higher today as SGX Nifty rose 29 points to 16,205. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.
On Monday, the Indian equity market ended flat in a highly volatile session. Sensex closed 37.78 points or 0.07 per cent lower at 54,288.61. The broader NSE Nifty declined 51.45 points or 0.32 per cent to close at 16,214.70.
Tata Steel was the top Sensex loser, slipping 12.53 per cent, followed by UltraTech Cement, ITC, Power Grid, HDFC, HDFC Bank, HCL Technologies, and Reliance Industries.
M&M, Maruti, Hindustan Unilever, Larsen & Toubro, Asian Paints, and Kotak Mahindra Bank were among the top sectoral gainers, rising up to 4.14 per cent.
Here are the stocks that are likely to remain in news today.
Delhivery: The firm will make its stock market debut today.
Zomato: The food delivery giant reported widening of its consolidated net loss to Rs 360 crore in the fourth quarter ending March 31, 2022. The company had reported net loss of Rs 134 crore in the year-ago period. Zomato's consolidated revenue from operations rose 75 per cent to Rs 1,212 crore as against Rs 692 crore in the same quarter last fiscal.
Marico: The FMCG major has announced a strategic investment in the healthy breakfast and snacks brand True Elements with an acquisition of 54 per cent stake in the company through primary infusion and secondary buy-outs. True Elements, which is co-founded by Puru Gupta and Sreejith Moolayil, claims to be a brand that uses zero preservatives, no chemicals or added sugar in its offerings. The brand offers a wide range of more than 70 products spanning across categories of western breakfast (including oats, muesli, granola, flakes), Indian breakfast (like poha, upma, dosa), snacks (roasted seeds, seed mixes, raw seeds) and others.
Maruti Suzuki India: The country's largest carmaker will buy 12.09% equity stake in Sociograph Solutions Pvt Ltd for Rs 2 crore. SSPL is an artificial intelligence software company that specialises in visual AI platform predominantly used to help enterprises improve sales experiences and improve efficiency in their business.
Oil and Natural Gas Corporation: The state-owned firm said it has become the first gas producer to trade domestic gas on the Indian Gas Exchange, trading unspecified volumes from its eastern offshore KG-DWN-98/2 block.
Birlasoft: The company reported net profit of Rs 132.897 crore in Q4 as against Rs 113.967 crores for the quarter ago period. Revenue rose to Rs 1,104.2 crore against Rs 1,071.9 crore. The company will buy back up to 2.79 per cent of shares at a price of Rs 500 apiece for an amount up to Rs 390 crore.
Ramco Cements: The company logged a decline of 45.22 percent in consolidated net profit at Rs 118.27 crore for in Q4. Revenue rose 4.94 percent at Rs 1,722.68 crore in last quarter as against Rs 1,641.53 crore in the corresponding period of the previous fiscal.
Bharat Electronics: Net profit for March quarter fell 16 percent year-on-year to Rs 1140 crore. Revenue for the quarter fell 9 percent to Rs 6320 crore.
Shilpa Medicare: The board of directors has considered and recommended payment of dividend of Rs. 1.10 (110%) per equity share of face value of Rs. 1 each for the financial year 2021-2022.
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