Stocks in news: Tata Motors, Coforge, RIL, Torrent Pharma, TVS Motor and more

The domestic equity market was trading in the green on Thursday. Sensex rose 355 points to 65,789 and Nifty gained 106 pts to 19,550.  

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

Reliance Industries  

Shares of Reliance Industries Ltd (RIL) are in focus today after the oil-to-telecom major said Qatar Investment Authority (QIA) would invest Rs 8,278 crore into its subsidiary Reliance Retail Ventures Limited (RRVL) at at a pre-money equity value of Rs 8.278 lakh crore. 

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Coforge  

Shares of Coforge (erstwhile NIIT Technologies) are in focus as a report suggested that promoter Baring PE, through its affiliate Hulst BV, may sell its entire stake in the IT services company through block deals on Thursday. The floor price for the deal is set at Rs 4,550 per share, which was at a 7 per cent discount to Wednesday's closing price, as per the report. 

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Tata Motors  

The Competition Commission of India (CCI) on Wednesday ruled that Tata Motors has not violated the provisions of the Competition Act, 2002. The two cases relate to anti-competitive practices in 2019 and 2020 in its commercial vehicles’ (CV) unit. There was ‘no sufficient material’ on record for the commission to infer that Tata Motors engaged in anti-competitive practices, leading to an adverse effect on competition, said CCI.  

Tata Communications  

The company plans to raise Rs 1,750 crore by issuing 1,75,000 Non-Convertible Debentures (NCDs of face value Rs 1,00,000 each. The type of securtiy will be rated, unsecured, listed, redeemable non-convertible debentures. The NCDs are proposed to be listed on the Wholesale Debt Market Segment of the National Stock Exchange of India Limited (NSE). 

JB Pharma 

US FDA has given clearance to JB Pharma's Abbreviated New Drug Application (ANDA) for Doxepin Hydrochloride Capsules USP. This will facilitate production of the generic version of Sinequan, a Pfizer drug used for its efficacy in treating a range of conditions including anxiety, depression, and various target symptoms of psychoneurosis. 

TVS Motor  

The two-wheeler major launched its second electric scooter, the TVS X, which is based on the TVS XLETON, a high-strength aluminium platform. The TVS X is a premium electric scooter offering a wide range of digital and connected features, such as an intuitive navigation system, EV charger mapping mechanism, live vehicle location sharing feature, and more. 

Torrent Pharma  

The US health regulator has allowed Voluntary Action Indicated classification to Torrent Pharmaceutical's manufacturing site in Dahej, Gujarat. A VAI classification implies objectionable conditions or practices were found but the agency is not prepared to take or recommend any administrative or regulatory action. 

Vascon Engineers  

The company said it has received a Letter of Acceptance amounting to Rs 605.65 crore from Bihar Medical Services & Infrastructure Corporation Ltd for the construction of Lohia Medical College & Hospital including hospital and residential building, Supaul. The work has been awarded on an EPC basis. 

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Also read: Block deal: Coforge shares in focus as promoter may sell entire stake today