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Stocks in news: ICICI Bank, Tata Steel, TVS Motor, Cipla and more

Stocks in news: ICICI Bank, Tata Steel, TVS Motor, Cipla and more

Stocks in news: ICICI Bank, PNB, Tata Steel, TVS Motor, Cipla, Prestige Estates and more

Stocks in news: ICICI Bank, PNB, Tata Steel, TVS Motor, Cipla, Prestige Estates and more Stocks in news: ICICI Bank, PNB, Tata Steel, TVS Motor, Cipla, Prestige Estates and more

The Indian market is likely to open higher today as SGX Nifty rose 110 points to 17,357. Benchmark indices closed lower on Wednesday, tracking losses in index majors Infosys, Bajaj Finance and HDFC amid a mixed trend in global markets.

Sensex slumped 329.06 points to end 57,788.03 and Nifty fell 103.50 points to 17,221.40 on Wednesday.

Bajaj Finance was the top Sensex loser, shedding over 3.10 per cent, followed by Bajaj Finserv, PowerGrid, ITC and TCS. Sun Pharma, Kotak Bank, M&M, Maruti and L&T were among the top Sensex gainers, rising up to 2.59%.

Here's a look at stocks that are likely to remain in news today.

ICICI Bank, PNB: The Reserve Bank of India (RBI)  has levied a penalty of Rs 30 lakh on ICICI Bank for deficiencies in regulatory compliance, and another  Rs 1.8 crore on Punjab National Bank. ICICI Bank failed to comply with directions related to levy of charges for non-maintenance of minimum balance in saving accounts. PNB was found in contravention of RBI provisions relating to pledge of shares.

Vodafone Idea: The telco is eyeing a four-fold rise in annual capital expenditure to $2 billion (about Rs 15,000 crore), according to a media report.

Tata Steel: India Ratings and Research (Ind-Ra) said it has upgraded Tata Steel's long-term issuer rating to 'AA+' from 'AA'. AA-rated instruments are considered to have a high degree of safety regarding timely servicing of financial obligations.

Glenmark Pharma: The company's subsidiary Ichnos Sciences has inked an agreement with Almirall to out-licence a drug under development called ISB 880. ISB 880 is a drug under study for autoimmune conditions and oncology.

Sun Pharmaceutical Industries: The drug maker has received final approval from the US health regulator for generic Amphotericin B Liposome injection used in the treatment of fungal infections with 180 days of exclusivity.

TVS Motor Company: The auto maker and BMW Motorrad have announced expansion of their long standing partnership to include joint development of new platforms and future technologies, including electric vehicles.

 Power Grid: The company's board approved an interim dividend of Rs 7 per share for the financial year 2021-22.

Cipla: Drug major Cipla has inked an agreement to buy 33 per cent stake in renewable energy firm Clean Max Auriga Power LLP for up to Rs 6 crore.

Prestige Estates Projects: Realty firm Prestige Group and its co-working operator Awfis will set up six more centres, comprising 3 lakh square feet, across major cities with an investment of about Rs 70 crore to meet rising demand of flexible workspace.

Published on: Dec 16, 2021, 9:14 AM IST
Posted by: Aseem Thapliyal, Dec 16, 2021, 9:02 AM IST