The Indian equity market is likely to open higher today as SGX Nifty was trading 65 points higher at 17,287. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.
Benchmark indices ended lower for the second straight session on Thursday amid concerns over inflation and supply constraints. Sensex fell 89.14 points to close at 57,595 and Nifty dipped 23 points to 17,222.
Kotak Bank, Titan and HDFC Bank were the top Sensex losers, falling up to 3.09 per cent. Dr Reddy's Laboratories, UltraTech Cement and RIL were the top Sensex gainers, rising up to 4.90%
Here's a look at stocks that are likely to remain in news today.
Reliance Industries: The joint bid of Reliance Industries and Assets Care & Reconstruction Enterprise (ACRE) for debt-ridden Sintex Industries has been moved before the NCLT for its approval after getting unanimously selected by the lenders of the textiles maker.
The resolution professional of Sintex Industries has filed the resolution plan by RIL and ACRE, as approved by the Committee of Creditors (CoC) before the Ahmedabad Bench of the National Company Law Tribunal (NCLT), said a regulatory filing.
Tata Consumer Products Limited: The firm said its board would consider raising funds via issue of equity shares of up to 1.5 per cent paid-up share capital to a foreign company on March 29, 2022. "The board of directors of the company is scheduled to be held on Tuesday, March 29, 2022, inter alia, to consider the issue of equity shares of the company by way of preferential allotment, of up to 1.5 per cent of the paid-up share capital of the company, to a foreign company," Tata Consumer said.
Axis Bank: Market regulator Securities and Exchange Board of India (SEBI) said it had imposed a Rs 5 lakh penalty on private lender Axis Bank for "violating regulations." SEBI said it fined Axis Bank under the provisions of section 15A(a) of the SEBI Act for its violation of provisions of regulation 27 of the Merchant Bankers (MB) Regulations.
Larsen & Toubro: The board of infrastructure major has approved long-term borrowings up to Rs 10,000 crore. The long-term borrowings include refinancing, through external commercial borrowings, term loans, non-convertible debentures or any other instrument as may be appropriate, the company said.
Kotak Mahindra Bank: Canada Pension Plan and Investment Board has offloaded 4 crore shares of Kotak Mahindra Bank worth around Rs 6,800 crore. As per bulk deal data on BSE, the pension fund sold the shares at an average of Rs 1,700.10 apiece.
State Bank of India: The lender announced that it has entered into a co-lending agreement with 5 Housing Finance Companies (HFCs) to sanction home loans to the unserved and underserved sector in line with the Reserve Bank of India (RBI) guidelines. The five HFCs are: PNB Housing Finance Limited, IIFL Home Finance Limited, Shriram Housing Finance Limited, Edelweiss Housing Finance Limited, and Capri Global Housing Finance Limited.
Kalpataru Power Transmission: SBI Funds Management bought 14.5 lakh equity shares in the EPC company through open market transactions on March 23. With this, its shareholding in the company stands at 7.25 percent, up from 6.27 percent earlier.
Motherson Sumi Systems: The company has won an order to manufacture, supply aftermarket molded polymer parts for commercial plane interiors. This is the first order for the company from Boeing.
Zen Technologies: The company has won a project sanction order from the Indian Army, for the design and development of a prototype of Integrated Air Defence Combat Simulator.
Aurum Proptech: The company will acquire Helloworld Technologies for Rs 42 crore.
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