Indian equity market ended lower on Friday, snapping its eight-day rally, amid weak global markets and profit-booking at record level. Sensex slipped 415.69 points to end at 62,868.50. During the day, it crashed 604.56 points to 62,679.63. Nifty lost 116.40 points or 0.62 per cent to end at 18,696.
Here’s a look at stocks that are likely to remain in news today.
Maruti Suzuki India: The country’s largest carmaker will raise the prices of its vehicles ‘substantially’ from January to offset the impact of rising input costs and make provisions to update the model range to conform to stricter emission norms which kick in from April 2023.
Also Read:┬аMaruti Suzuki plans to increase car prices from January 2023, cites inflation
NTPC: The state-owned power giant is likely to get a strategic investor for its arm NTPC Green Energy by March 2023, which will help raise up to Rs 3,000 crore for implementing renewables projects in the country.
Power Grid Corporation of India: The state-owned power transmission major is in the process of carving out its telecom vertical to a new fully owned subsidiary, Powergrid Teleservices, in a bid to have a ‘focused approach’ and to move up the value chain.
Pharma stocks: Drug majors Dr Reddy’s Labs and Sun Pharma are recalling different products in the US market for manufacturing issues, according to the USFDA. Dr Reddy’s Labs is recalling over 48,000 cartons of a drug used to treat sneezing, runny or stuffy nose. Sun Pharma is recalling 14,064 cartons of a medication to treat erosive esophagitis.
Godrej Properties: The real estate firm has bought an 18.6 acre land parcel at Kandivali, in Mumbai for around Rs 750 crore to develop a luxury housing project.
PB Fintech: Softbank offloaded 2.28 crore shares or 5.1 per cent stake at an average price of Rs 456.4 apiece worth Rs 1,042.52 crore of the parent of Policybazaar, through an open market transaction. Goldman Sachs, Societe Generale, Morgan Stanley and Max Life were among the buyers.
NMDC: The state-owned metal miner reported eight per cent growth in November compared to the corresponding month last year in iron ore production at 3.61 million tonnes and 5.5 per cent jump in sales at 3.04 million tonnes in November. Iron ore production for the period September-October-November 2022 was the the best ever for the firm.
Also Read:┬аShare Market News Live: Sensex, Nifty likely to open higher, in line with Asian stocks; Maruti, SBI, Mahindra Finance in focus
Krishna Institute of Medical Sciences: An arm of US-based equity firm General Atlantic offloaded 14.5 lakh shares or 1.8 per cent stake of the hospital chain at average price of Rs 1,480 apiece for Rs 214.6 crore through an open market transaction, according to the bulk deal data available with the BSE.
Amara Raja Batteries: The battery firm will invest over Rs 9,500 crore over 10 years for setting up research and development, and a greenfield manufacturing facility for lithium-ion battery-making in Mahbubnagar district of Telangana.
Bank of India: The state-run lender has raised Rs 1,500 crore by allotting Basel-III compliant additional Tier-I bonds, to seven investors. The bonds issue opened on December 1 received strong response from investors, getting bids worth Rs 6,367 crore against offer size of Rs 1,500 crore.
Ion Exchange: The water treatment company has won a contract worth Rs 343.36 crore from Indian Oil Corporation, which includes designing, engineering, manufacturing, supply, erection, testing, pre-commissioning, commissioning, performance guarantee test run and operation & maintenance for five years at Panipat refinery.
Inox Green Energy Services: The recently listed wind power operation and maintenance service provider reported a net loss of Rs 11.87 crore on a consolidated basis for quarter ended September FY23, compared to a loss of Rs 11.58 crore in previous quarter. Revenue from operations rose marginally to Rs 61.9 crore.
