Stocks in news: Tata Elxsi, Reliance Industries, ACC, Coal India and more

The Indian equity market is likely to open higher today as SGX Nifty rose 97.50 points to 17027. Equity benchmarks extended losses for the fifth consecutive session on Tuesday, dragged down by heavyweights HDFC twins and Infosys amid a mixed trend in global markets.

Sensex tanked 703 points to end at 56,463. During the day, the 30-stock index tanked 1157 points to 56,009. For the majority of session, Sensex hovered around the positive territory. It gained nearly 300 points to 57,464. Nifty crashed 215 points to close at 16,958.

HDFC, HDFC Bank, Infosys, ITC and Tech Mahindra were the top Sensex losers falling up to 5.50 per cent. RIL, ICICI Bank, SBI and Bajaj Finance were the top Sensex gainers, rising up to 3.71 per cent.

Here's a look at stocks likely to remain news today.

Tata Elxsi, Angel One and ICICI Securities: These companies will report their quarterly numbers today.

Reliance Industries: Reliance Brands Ltd has inked an agreement to invest in India's foremost couturiers Abu Jani and Sandeep Khosla for a 51 percent majority stake.

ACC: The cement maker reported a 29.5 per cent fall in consolidated net profit to Rs 396.33 crore for the first quarter ended March 2022 posted a profit of Rs 562.59 crore a year ago. Revenue from operations during the January-March quarter rose 3.13 per cent to Rs 4,426.54 crore against Rs 4,291.97 crore in the year-ago period.

Coal India: The firm said it has raised its supplies to thermal power stations by 14.2 percent during the first half of April 2022 compared to the same period last year amid rising demand. CIL's supplies have hit 1.64 million tonnes (MTs) per day during this period against 1.43 MTs in the same period in April 2021, the company said in a press release.

Zydus Lifesciences: The firm has received final approval from the US health regulator to market its generic version of Cyanocobalamin injection which is used to treat and prevent vitamin B12 deficiency caused by pernicious anemia.

Larsen & Toubro: The Indian multinational company's construction arm, L&T Construction has bagged a contract for its water & effluent treatment business to construct and commission water supply schemes for various towns in Tanzania.

"The aggregate scope of work comprises design & construction of raw water intake systems, storage tanks, water treatment plants of a total capacity of 71 MLD, 5 clear water reservoirs, pumping stations, 263 km of pipeline and associated electromechanical works," the company said on Tuesday. The project is being funded by the EXIM Bank of India. The order, which the company classifies as 'significant,' is worth between Rs 1,000 to Rs 2,500 crore.

Dabur India: The firm will induct a fleet of 100 electric vehicles in its supply chain for last mile product distribution. The company said that this will make Dabur the first domestic consumer goods firm to have an EV fleet for distribution, keeping in line with its aim to achieve carbon neutrality in its operations.

ONGC: The government-owned oil and gas producer Oil and Natural Gas Corporation (ONGC) has appointed Pomila Jaspal as the Director (Finance) and Chief Financial Officer with immediate effect, the company said.

Future Retail: The electronic voting process for shareholders of the debt-ridden Future Retail Ltd (FRL) ended on Tuesday evening ahead of the meetings of the shareholders and creditors to approve the sale of the company's retail assets to billionaire Mukesh Ambani's Reliance Retail despite opposition from e-commerce major Amazon and an insolvency petition from its lenders.

Eveready Industries: The batteries and flashlights maker Eveready Industries India said Burman Group has increased its holding in the company to 20.18 per cent through acquisition of shares from the open market. Burman Group entities, which include Puran Associates Pvt Ltd, VIC Enterprises Pvt Ltd, MB Finmart Pvt ltd, Gyan Enterprises Ltd and Chowdry Associates, acquired 78,000 shares on Tuesday that account for 0.11 per cent stake in the company.

Larsen & Toubro Infotech:  The technology consulting and digital solutions company on Tuesday reported a rise of 16.8 per cent year-on-year in its consolidated net profit at Rs 637 crore for the quarter ending 31 March, 2022. The company had posted a profit of Rs 545 crore in the year-ago period. Revenue from operations in the said quarter rose 32 per cent to Rs 4,302 crore from Rs 3,269 crore in the same quarter last fiscal.