Sensex and Nifty were likely to open higher today. On Wednesday, Sensex fell 334 points, tracking losses in index heavyweights such as Reliance Industries, ICICI Bank and L&T amid a weak trend in global markets. Sensex closed 333.93 points lower at 51,941 and Nifty slipped 104.75 points to 15,635. L&T was the top Sensex loser, falling around 1.80 per cent, followed by Reliance Industries, Bajaj Finserv, IndusInd Bank, SBI, Maruti, Axis Bank and Bajaj Auto.
Here's a look at stocks which are likely to remain in news today.
GAIL India: The state-owned gas utility reported a 28 per cent jump in March quarter net profit as petrochemical margins soared and gas marketing business turned around on rise in international prices. Net profit in January-March at Rs 1,907.67 crore is compared with Rs 1,487.33 crore net profit in the same period a year ago.
MMTC: The state owned distribution company's board has approved the debt restructuring scheme of the state-owned company which envisages settlement of dues out of the disinvestment proceeds of the Neelachal Ispat Nigam Limited (NINL).
Bata India: The shoemaker reported 23.3 per cent fall in consolidated net profit at Rs 29.47 crore for the fourth quarter ended March 31, 2021. The company had posted a net profit of Rs 38.40 crore in the year-ago period.
Tech Mahindra: The IT major is looking for acquisitions in Europe to upgrade its capabilities in various segments, including cloud computing, 5G, SAP and Salesforce softwares.
PNB Housing Finance: A proxy advisory firm has raised questions on PNB Housing Finance's decision to raise up to Rs 4,000 crore by way of preferential issue of shares instead of a rights issue, and termed it an "unfair transaction" which is against public shareholders as well as the promoter bank PNB.
Reliance Power: The board of Anil Ambani led company will consider a proposal to raise long term resources at its meeting scheduled for June 13. The company said funds are proposed to be raised by issue of equity shares/ equity linked securities/ warrants convertible into equity shares, by way of preferential issue and/ or qualified institutional placement and/or rights issue or any other method.
Crompton Greaves: Private equity firm Advent International Corp divested its entire 5.36 per cent stake in household appliances firm for a little over Rs 1,348 crore through multiple open market transactions.
YES Bank: The private lender's board will meet today to consider fund raising.
Bajaj Allianz Life Insurance: The insurer has declared bonuses worth Rs 1,156 crore to its policyholders, including a special one-time bonus of Rs 315 crore, over and above the regular bonus.
Shemaroo Entertainment: The firm's quarterly net profit stood at Rs 22 million in Q4 , while net profit margin stood at 2.80%. The company's Ebitda stood at Rs 111 million in March quarter 2021 compared to Rs 31 million during the same period a year ago.
TeamLease Services: Net profit rose 182.42% in Q4 to Rs 23.66 crore from Rs 28.71 crore a year ago. EBITDA came at Rs 30.06 crore in March 2021 up 8.58% year-on-year.
Tata Motors:The company's board on June 14, 2021 will consider offering of Rated, Listed, Unsecured, Redeemable, Non- Convertible Debentures aggregating upto Rs 500 crore.
Coral India: Navin Bachubhai Doshi, promoter of the company, proposed to sell up to 18,67,170 equity shares of Coral India Finance & Housing. The floor price for the offer shall be Rs 35.
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