Indian equity market is likely to open higher today despite weak global cues. The SGX Nifty was trading 110 points higher at 17,141, indicating a positive start for Sensex and Nifty. On Friday, Sensex ended 1,687 points lower at 57,107 and Nifty lost 509 points to 17,026. IndusInd Bank, Maruti, Tata Steel, NTPC and Bajaj Finance were the top Sensex losers, falling up to 6.01%.
Here’s a look at stocks that are likely to remain in news today.
ITC: The FMCG major will buy a 16 per cent stake in Mother Sparsh, an ayurvedic and natural personal care brand in the D2C space for Rs 20 crore through a share subscription agreement.
Paytm: The firm’s listed parent One 97 Communications has extended its losses in the second quarter ( July-September)┬а to Rs 481.70 crore from Rs 376.60 crore in the first quarter ( April-June) of 2021-22. However, the total income has increased by 19.62 per cent to Rs 1,134.50 crore in the same period.
Reliance Industries: The conglomerate’s telecom arm has raised the prices of its voice and data plans for prepaid customers by up to 21 per cent. The new rates would be applicable from December 1.
Coal India: The dispatch of coal to the power sector by state-owned CIL rose 22.7 per cent to 291.72 million tonne (MT) in the first seven months of the ongoing fiscal year. Coal India Ltd (CIL) had dispatched 237.75 MT of coal to the power sector in April-October period of 2020-21.
Tata Steel: The Tata Group firm will focus on augmenting iron ore production from 30 million tonne per annum to 45 mtpa in the next five years. The total iron ore production from the steelmakers’ captive mines in Noamundi in Jharkhand and in Katamati, Joda and Khondbond blocks in Odisha, is about 30 mtpa.
Voltas: Domestic air-conditioner maker Voltas plans to set up a compressor manufacturing unit in partnership with an international partner and will invest around Rs 500 crore.
Colgate-Palmolive: The firm has introduced a sustainable innovation to the oral care industry with launching of 100 per cent recycled plastic handle toothbrush. The company had recently unveiled the country’s first recyclable toothpaste tubes.
Macrotech Developers: The realty firm, which has projects in Mumbai and Pune regions, is looking to enter the Bengaluru market to tap huge property demand in the IT city and will invest Rs 3,000 crore equity capital for growth as it aims to increase its annual sales bookings by almost three times to Rs 20,000 crore by 2025-26, a top company official said.
