The Indian equity market is likely to open lower today as SGX Nifty fell 215 points to 16,492. On Monday, Sensex rebounded 1,414 points from the day's low to close in the green for the second consecutive session. Sensex, which slipped 1,025 points to 54,833, closed 388 points higher at 56,247. Nifty ended 135 points higher at 16,793. Earlier, the index had slipped 302 points to 16,356. Tata Steel, PowerGrid, Reliance Industries and Titan were the top Sensex gainers, rising up to 6.61 per cent. Dr Reddy's Laboratories, M&M and Axis Bank were the top Sensex losers, falling up to 2.81 per cent.
Here's a look at stocks that are likely to remain in news today.
Reliance Industries: Reliance Retail Ventures, a subsidiary of the Mukesh Ambani-led conglomerate, has picked up a majority stake in homegrown designer brand Abraham & Thakore Exports, for an undisclosed amount.
Ashok Leyland: The Hinduja flagship firm reported a 7 per cent rise in commercial vehicle sales to 14,657 units in February. The company had sold 13,703 units in the same month last year. Domestic sales were up 4 per cent at 13,281 units against 12,776 units in February 2021.
Maruti Suzuki India: The country's largest car maker reported a marginal dip in total wholesales at 1,64,056 units in February. The company had sold 1,64,469 units in February 2021.
Hero MotoCorp: The two-wheeler maker reported a 29 per cent fall in total wholesales at 3,58,254 units in February. The company had dispatched 5,05,467 units in the same month in 2021.
Power Finance Corporation: The company's board has cleared a proposal for borrowing Rs 82,000 crore in 2022-23. The board in its meeting held on February 28, 2022, approved borrowings of Rs 82,000 crore in 2022-23.
Tata Motors: The auto major said its total domestic sales increased by 27 per cent year-on-year to 73,875 units in February. The company had dispatched 58,366 units in February 2021. Passenger vehicle sales in the domestic market last month rose by 47 per cent to 39,981 units compared to 27,225 units in the same month last year.
Mahindra Logistics: The company has inked a pact for buying up to 43,972 equity shares and for subscribing up to 63,200 Series A compulsorily convertible cumulative preference shares of ZipZap Logistics in tranches
Route Mobile: The company's subsidiary Routesms Solutions has successfully acquired MR Messaging. With this, MR Messaging has become a wholly owned subsidiary of Routesms Solutions and a stepdown subsidiary of Route Mobile.
Panacea Biotec: The company will sell the pharmaceutical formulations brands of its subsidiary to Mankind Pharma. The total value of the transaction is Rs 1,872 crore.
Vedant Fashions: Ethnic wear brand Manyavar operator reported a 24 percent YoY growth in consolidated profit at Rs 127.8 crore while revenue grew 28 percent YoY to Rs 384.8 crore.
Bharat Electronics: The company has inked a contract with the Ministry of Defence for the retro-modification of Commander Sight of Battle Tanks-T90 for the Indian Army. The total value of the contract is Rs 1,075 crore.
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