Indian benchmark indices are likely to open higher today as SGX Nifty rose 58 points to 17,145 level amid mixed global cues. Equity market ended lower in volatile trade on Tuesday led by losses in banking, metal and auto shares.
Sensex closed 195 points lower at 57,064 and Nifty lost 70 points to end at 16,983. Tata Steel was the top Sensex loser, shedding 3.87 per cent, followed by Kotak Bank, Bajaj Auto, M&M, Bharti Airtel, Reliance Industries, IndusInd Bank and Maruti.
Here's a look at stocks that are likely to remain in news today.
Maruti Suzuki: The car maker said that in December the total vehicle production volume at its plants in both Haryana and Gujarat could be around 80% to 85% of normal production. The company cited supply constraint of electronic components caused by the semiconductor shortage situation behind the projected fall in output.
NTPC: The state-owned power giant said 250-MW unit-4 of its Nabinagar power plant will begin commercial from the midnight of Wednesday. "Unit-4 of 250 MW capacity of Nabinagar Thermal Power Project (4X250 MW) of Bhartiya Rail Bijlee Company Limited (a subsidiary company of NTPC Ltd) is declared on commercial operation w.e.f. 00:00 hrs of December 1, 2021," according to a BSE filing. With this, the commercial capacity of the NTPC group will become 67,907.5 megawatts (MW), it stated.
Coal India: The state-run firm plans to invest Rs 19,650 crore by FY24 to raise coal transportation capacity by 330 million tonnes (mt) by constructing rail links and setting up joint ventures (JVs).
Rail Vikas Nigam: The company has inked a MoU with Economic Policy Research Institute of KYRGYZ Republic, Government of Kyrgyzstan, for development of railway corridor projects in Kyrgyz Republic specially to connect from Bishkek to Karakechenskoye.
NMDC: State-owned mining company NMDC has cut prices of lump ore by Rs 750 a tonne and fines Rs 200 per tonne, with immediate effect. In a regulatory filing, the company said it has revised the rates of lump ore or higher grade ore to Rs 5,200 a tonne.
Axis Bank: The private lender has received nod from both Bombay Stock Exchange (BSE) and Nation Stock Exchange (NSE) to reclassify four insurers from promoter category to public shareholders. "We wish to inform you that BSE and NSE vide their respective letters dated November 30, 2021 have granted their approval for the reclassification of aforementioned promoters to "Public" category from "Promoter" category," Axis Bank said.
Zomato: The online food delivery platform has announced the launch of 'Zomato Wings', a platform to connect investors with restaurants, to help them raise funds. The initiative comes at a time when there are thousands of budding restaurants that may not have the expertise or focus to fundraise at the right time from the right investors, Zomato's cofounder and CEO Deepinder Goyal said in a blog post.
Infosys: The IT firm said it will transfer Daimler's High Performance Computing (HPC) workloads used to design vehicles and automated driving technologies to one of Europe's greenest data centres, Lefdal Mine Datacenter in Norway.
Sun Pharmaceutical Industries: The drug major said its arm DUSA Pharmaceuticals Inc has reached settlement with Biofrontera to resolve a litigation over misappropriation of trade secrets and unfair practice, following which DUSA will receive $22.5 million (nearly Rs 170 crore).
PB Fintech: Docprime, a fully owned subsidiary of PolicyBazaar, has invested an additional Rs 10.8 crore in healthcare and wellness services provider Visit Health (VHPL) for a minority stake. The board of directors of PB Fintech have cleared the proposal.
Strides Pharma Science: SBI Funds Management sold 66,400 equity shares in the firm through open market transactions on November 29, reducing shareholding to 5.42 per cent from the 5.50 per cent earlier.
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