Benchmark indices are likely to open lower today amid negative global cues. On Tuesday, Indian market closed lower, tracking losses in index heavyweights such as ICICI Bank, Kotak Bank and Infosys amid profit-booking. Sensex closed 185.93 points lower at 52,549 and Nifty tumbled 66.25 points to 15,748.
RIL: Reliance Industries Ltd (RIL) has inked a pact with Abu Dhabi National Oil Company (ADNOC) to jointly build a petrochemicals facility in Ruwais, Abu Dhabi. The facility will manufacture chlor-alkali, ethylene dichloride and polyvinyl chloride (PVC).
IRCTC: The firm reported a 23 per cent decline in its profit after tax to Rs 103.78 crore for the March 2021 quarter. The company had reported a profit after tax (PAT) from continuing operations of Rs 135.14 crore for the corresponding quarter a year ago.
IndusInd Bank: The lender said it has sold more than 70 lakh shares, which it acquired through invocation of pledged shares, of tea manufacturing firm McLeod Russel. With this, the lender is not holding any shares of the tea company.
General Insurance Corporation: The insurer reported a consolidated net profit of Rs 1,991.59 crore for the financial year 2020-21. The state-owned reinsurer had posted a loss of Rs 186.46 crore in 2019-20.
Cipla: The pharma firm said the company doesn’t have a definitive agreement on commercial supplies of Moderna vaccine. The company said it is supporting Moderna with the “regulatory approval and importation of vaccines to be donated to India”.
Ruchi Soya: Baba Ramdev-owned firm reported net profit of Rs 314.33 crore for the quarter ended March 2021. The company had posted a net loss of Rs 41.24 crore in the year-ago period. Total income rose to Rs 4,859.5 crore in the fourth quarter of 2020-21 from Rs 3,209.02 crore earlier.
Emami Realty: The firm will develop a 40-acre township in Kolkata at an estimated project cost of Rs 300 crore. The company is launching 525 plots for sale in this township project, located at Bhasa, near Joka in Kolkata.
Bharti Airtel: The company will invest an additional $500 million (over┬а Rs 3,700 crore) into OneWeb, to become the largest shareholder in the satellite communications company that billionaire Sunil Mittal-run Bharti Group along with the UK government had rescued from bankruptcy last year.
Indiabulls Housing Finance: The company’s board has approved a proposal to raise over Rs 7,000 crore through various means. This includes $275 million (Rs 2,043.43 crore) by issuing equity shares or other instruments. The company’s fund mop-up plan is subject to shareholders’ approval in the upcoming annual general meeting (AGM) to be held in late July.
Axis Bank: Amazon Web Services (AWS) said it has inked a multi-year deal with Axis Bank to power the digital transformation programme of the country’s third largest private sector bank.
TVS Motors: The manufacturer of two-wheelers and three-wheelers, has launched a cost-friendly scheme for the multi-utility vehicle, TVS XL100. The scheme ‘Easy to Buy at Rs 49 a day’ is in line with the company’s endeavour to offer affordable mobility solutions.
Indian Hotels Company: The Tata Group hospitality firm is planning to expand the reach of its food delivery platform, Qmin, targeting presence in 25 cities over the next two years.
NTPC: The state-run power generator intends to list its arm NTPC Renewable Energy Ltd to raise funds for achieving its ambitious target of 60 GW installed renewable energy capacity by 2032.
