Stocks in news: TCS, Godrej Industries, Delta Corp, Wipro and more

The Indian equity market is likely to open in the red today as SGX Nifty was trading 162 points lower at 17,579.

Benchmark stock indices ended lower due to selling in IT, capital goods and banking shares on Monday. Sensex tanked 482.61 points or 0.81 per cent to settle at 58,964.57. During the day, it tumbled 552.78 points or 0.92 per cent to 58,894.40. The 50-stock Nifty declined 109.40 points or 0.62 per cent to finish at 17,674.95. Larsen & Toubro, HCL Technologies, Infosys, Wipro, Asian Paints, HDFC, HDFC Bank, Axis Bank were the top Sensex losers.

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

Wipro: The IT company said it has acquired US-based consulting and program management company Convergence Acceleration Solutions, LLC. Wipro will pay an upfront consideration of $50 million and contingent consideration of $30 million, to be payable over 3 years, for the acquisition of the company.

JSW Steel: The firm's subsidiary JSW Utkal Steel Ltd (JUSL) announced that it has received the environmental clearance for setting up a greenfield Integrated Steel Plant (ISP) of 13.2 million tonnes per annum (MTPA) crude steel from the Ministry of Environment and Forest and Climate Change. JSW Steel, in an official statement, explained that this mega project will generate huge employment opportunities in the region, which in turn will boost the economy of Odisha. It added that the capital expenditure for the modern, green and environment-friendly integrated steel plant project is expected to be around Rs. 65,000 crore including associated facilities.

Share Market LIVE: Sensex, Nifty likely to open lower today

Tata Consultancy Services: The firm reported a 7.3 per cent year-on-year (YoY) increase in consolidated net profit for the quarter ending 31 March, 2022 at Rs 9,926 crore as more businesses across the world leaned on technology and related services to drive their operations. The company had reported a net profit of Rs 9,246 crore in the year-ago period.

HAL: Hindustan Aeronautics Limited (HAL) and L&T consortium have emerged as the lowest bidder to make 5 Polar Space Launch Vehicles (PSLVs) for ISRO. "The company is the lead partner with L&T sharing the work. Other vendors too will be involved with the consortium in the manufacturing of the launch vehicles (LVs). However, the contract is yet to be formalised/ awarded," HAL said in a statement.

Godrej Industries: Godrej Industries has announced the launch of Godrej Capital, which will be the holding entity for Godrej Housing Finance, a housing finance firm and Godrej Finance, which is a non-banking financial company (NBFC). The latest move is in line with the group's overall plans to scale up its presence in the financial services segment. In a corroboration of the diversified conglomerate's focus on financial services space, the group has also committed to infuse Rs 1,500 crore in the venture and expects the business to require a total of Rs 5,000 crore of equity investment by 2026.

UltraTech Cement: The leading cement maker has been declared as the preferred bidder for a limestone block in an e-auction conducted by the Karnataka government. The block is situated in Tehsil Chittapur of Kalburgi district in Karnataka.

Adani Green Energy: The renewable energy firm has entered the list of top-10 valued firms as its market cap zoomed over Rs 4.22 lakh crore, backed by a sharp rally in the stock.

Delta Corp: The gaming company has reported a lower profit at Rs 48.11 crore for the quarter ended March 2022 compared to the profit of Rs 57.77 crore in the year-ago period. Revenue saw a moderate growth at Rs 218.32 crore, up from Rs 211.34 crore a year ago.

Kesoram Industries: The cement company posted a loss of Rs 46.14 crore in last quarter, which widened from Rs 31.97 crore loss in the previous quarter due to a rise in power, fuel and finance costs. It had recorded a profit of Rs 96.41 crore in the year-ago period.