The Indian equity market is likely to open higher today as SGX Nifty rose 26 points to 17,252. Equity benchmarks tumbled for the fourth consecutive session on Monday, dragged down by heavyweights Infosys and HDFC twins amid a weak trend in Asian markets. Sensex tanked 1,172.19 points or 2.01 per cent to end at 57,166.74. During the day, the 30-stock index crashed 1,496.54 points or 2.56 per cent to 56,842.39.
Nifty crashed 302 points or 1.73 per cent to close at 17,173.65.
Infosys, HDFC, HDFC Bank, Tech Mahindra, Wipro and TCS were the top Sensex losers falling up to 7.27 per cent. NTPC, Tata Steel, Maruti, Titan, Nestle, Titan and M&M were among the top Sensex gainers, rising up to 6.11 per cent.
Here are the stocks that are likely to remain in news today.
Muthoot Finance: The financial corporation announced that its board has cleared an interim dividend of Rs 20 per equity share (200 per cent). The interim dividend will be paid to the shareholders within 30 days from the date of declaration, it added.
Mindtree: The IT firm reported a 49 per cent year-on-year rise in consolidated net profit at Rs 473.1 crore for the quarter ending 31 March, 2022 on the back of robust demand and aggressive customer mining. The company had posted a net profit of Rs 317 crore in the same quarter last year.
Wipro: The company has appointed Satya Easwaran as Country Head.
Ujjivan Financial Services: The company's board of directors has appointed Radhakrishnan Ravi, as Chief Executive Officer and Chief Financial Officer of the company.
Eveready Industries India: Puran Associates Pvt Ltd & others have bought 76,534 equity shares in the company through open market transactions on April 18. With this, their stake in the has risen to 20.07 percent, against 19.96 percent earlier.
Rail Vikas Nigam: The company has inked an agreement with Mahanadi Coalfields, a subsidiary of Coal India. MCL has awarded a project management consultancy contract for rail infrastructure works to Rail Vikas Nigam from concept to commissioning.
Mahindra Lifespace: The firm has bought 11.5 acres in the suburban Pimpri, in Pune. The land is estimated to have a developable potential of about 2 million sq ft of saleable area and a gross development value of Rs 1,700 crore.
TVS Motor: Jwalamukhi Investment sold shares of TVS Motor Company through an open market transaction valued at Rs 212 crore.
Banking stocks: State Bank of India (SBI) has hiked lending rates for corporates and some retail borrowers by 10 basis points. The rate hike is the first from India's largest lender in more than three years.
SJVN: The company has announced financial closure by signing a loan agreement of Rs 494 crore with Himachal Pradesh State Co-Operative Bank for the development of 66 MW Dhaulasidh HEP, in Himachal Pradesh.
Copyright©2022 Living Media India Limited. For reprint rights: Syndications Today