Benchmark indices were trading flat in early trade today. Sensex was up 9 points to 52,870 and Nifty gained 8 points to 15,825. Here's a look at stocks that are likely to remain in news today.
Info Edge: The company's board has cleared the acquisition of Doselect.com run by Axilly Labs Pvt. Ltd. Doselect offers technical assessment services for recruitment and learning purposes. Info Edge will acquire 100% share capital of Doselect.com on a fully diluted basis for Rs 21 crore.
Mahindra & Mahindra: The company has inked a solar power delivery agreement with ReNew Sunlight Energy Pvt. Ltd (RSEPL). M&M has also signed a share subscription and shareholders' agreement with RSEPL and ReNew Green Energy Solutions Pvt. Ltd under which M&M will subscribe to 1,60,74,000 shares, buying 31.2% stake in RSEPL.
Bajaj Auto: The two-wheeler maker said it has reduced price of Dominar 250 bike by Rs 16,800 to Rs 1,54,176 (ex-showroom Delhi). The newly announced price on Dominar 250 is expected to grow the franchise further by encouraging customers to take their first step into the world of touring, the Pune-based company said.
Dr Reddy's Laboratories: The drug major, which sells its Over the Counter (OTC) products through Amazon and other e-commerce channels in the US, plans to double the portfolio on the market place to over 50 products in the foreseeable future.
63 Moons: The National Company Law Appellate Tribunal (NCLAT) has issued notices to DHFL's lenders and its winning bidder Piramal Capital over a petition filed by 63 Moons Technologies challenging the resolution process of the debt-ridden firm.
SBI: The country's largest lender will auction two non-performing accounts (NPAs) next month to recover dues of over Rs 313 crore, according to a notice by the lender. The two accounts to be put up for e-auction on August 6 are Bhadreshwar Vidyut Pvt Ltd (BVPL) with a loan outstanding of Rs 262.73 crore and GOL Offshore Ltd with Rs 50.75 crore dues.
Suzlon: The company denied rumours that a large group may be acquiring a controlling interest in the company, calling it speculative and baseless.
Tata Motors: Luxury carmaker Jaguar Land Rover Automotive Plc issued a profit warning on Tuesday citing the impact of semiconductor chip shortage on vehicle production after which Tata Motors stock fell up to 10%. The British carmaker said it will report a negative operating margin and an operating cash outflow of £1 billion this quarter.
Kotak Mahindra Bank: The lender's securities business subsidiary will acquire a nearly 10 per cent stake in financial technology company KIPL engaged in e-learning and stock market for a cash consideration of Rs 10 crore. Kotak Securities Ltd (KSL), a subsidiary of Kotak Mahindra Bank, has entered into an agreement with Kredent InfoEdge Pvt Ltd (KIPL) on July 6, 2021 for the investment of Rs 10 crore for a 9.96 per cent in the total share capital of KIPL. KIPL had a turnover of Rs 14.1 crore (Rs 141 million) in the financial year 2020-21.
IIFL Home Finance: The retail focused housing finance company said it is looking to raise up to Rs 1,000 crore by issuing non-convertible debentures (NCDs). The tranche 1 issue includes a base issue size of Rs 100 crore and a greenshoe option of Rs 900 crore aggregating up to Rs 1,000 crore.
HDFC: The National Housing Bank (NHB) has imposed a fine of Rs 4.75 lakh on Housing Development Finance Corporation Ltd (HDFC) for non-compliance of some norms. "This is to inform you that NHB has on July 5, 2021, (Monday) imposed a monetary penalty of Rs 4,75,000 plus GST on the Corporation for technical non-compliance with NHB circulars," HDFC said.
Ashok Leyland: Commercial vehicles major said its manufacturing plants across the country would be operational between 6-25 days in July. The Chennai-based company noted that the overall market demand in July is better than in June this year. "Consequently, our plants will be working for more days in July compared to May and June, ranging from 6 to 25 days across various plant locations," Ashok Leyland said.
Reliance Industries: The Mukesh Ambani-led company is in talks to buy stake in home styling brand Portico, owned by Creative Group. Launched in 2005, Portico provides bed, bath and top of bed solutions. Currently, over 200 outlets showcase its products.
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