Stocks in news: Paytm, RIL, Infosys, Max Financial, Hero MotoCorp and more

The domestic equity market opened lower on Friday. Sensex fell 390 points to 65,862 and Nifty lost 119 pts to 19,267. 

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

Sapphire Foods India  

Promoter Sapphire Foods Mauritius has offloaded 16.25 lakh equity shares or 2.55 percent stake in the franchisee of Yum! Brands Inc, at an average price of Rs 1,355 per share. 

One 97 Communications 

Shares of One 97 Communications (Paytm) are in focus today amid reports Jack Ma-founded Antfin (Netherlands) Holdings was looking to offload another 3.6 per cent stake in the online payment company via block deals. As per reports, the floor price for the deal is likely to be at Rs 880 per share, a discount of about 3 per cent to Thursday's closing price of Rs 904.40.  

Reliance Industries 

Reliance Industries Ltd (RIL) is likely to sell an additional 8-10 per cent stake in retail arm Reliance Retail Ventures Ltd (RRVL) to fund expansion, retire debt and prepare for the initial public offering (IPO), a media report said. The process would take place in tranches over 12-15 months, the report said adding that the move would be critical for the proposed IPO by the holding company of Reliance's retail operations.  

Universal Autofoundry 

Ace investor Ashish Kacholia has bought 8.54 percent stake or 10.34 lakh shares in Universal Autofoundry via open market transactions, at an average price of Rs 161.59 per share. Himalaya Finance & Investment Company also purchased 10.34 lakh shares in the company at an average price of Rs 168.49 per share. 

Astra Microwave  

The company has won orders worth Rs 158 crore for supply of satellite sub-systems, airborne radar and sub-systems of radar and EW projects, from DRDO, ISRO and DPSU. 

Max Financial Services 

Max Ventures Investment Holdings, a promoter group entity of Max Financial Services, on Thursday, offloaded 3.3% stake for Rs 982 crore. On the other hand, Plutus Wealth Management LLP purchased 25 lakh shares in the Max Group company and UBS (US) Group Trust acquired 47.5 lakh shares at an average price of Rs 873 per share. Together, they bought 2.1 percent stake worth Rs 632.92 crore. 

Hero MotoCorp 

Hero MotoCorp announced the launch of New Glamour at Rs 82,348/- (drum variant) and Rs 86,348/- (disc variant) at ex-showroom prices. 

Infosys 

IT major Infosys has announced a three-year partnership with tennis star Rafael Nadal. "Nadal is a perfect embodiment of what it takes individuals or business leaders to evolve and continually navigate their next," the company said in a statement. 

 

Also read: Paytm shares in news as Antfin likely to sell 3.6% stake via block deal today

Also read: RIL shares in focus as firm may sell 8-10% additional stake in Reliance Retail: Report