Indian benchmark indices are likely to open higher today as SGX Nifty rose 88 points to 16,583, amid positive global cues. On August 23, Sensex ended 226 points higher at 55,555 and Nifty gained 46 points to 16,496.
Here’s a look at stocks, which are likely to remain in news today.
Eicher Motors: The Board of Eicher Motors Ltd on Monday decided to re-appoint Siddhartha Lal as Managing Director, with effect from May 1, 2021. The Board will go back to their shareholders for approval through postal ballot.
The decision was taken after the company’s 39th annual general meeting held on August 17, where matters pertaining to Lal’s re-appointment as well as the remuneration proposal were discussed.
Infosys: After being ‘summoned’ by the Finance Ministry for consistent glitches in the Income Tax portal, Infosys’s top management, including CEO Salil Parekh and COO Pravin Rao, who met Finance Minister Nirmala Sitharaman, has been given the September-15 deadline to resolve issues with the web portal.
JSW Steel: ICRA upgraded the rating of long-term bank facilities and non-convertible debentures to ICRA AA with stable outlook.
Maruti Suzuki: The country’s largest carmaker Maruti Suzuki India Ltd (MSIL) on Monday said it is examining and will “take appropriate actions under law” with regards to an order by the CCI that imposed Rs 200 crore penalty on it for indulging in anti-competitive conduct and restricting discounts by its dealers.
The Competition Commission of India (CCI) in a statement on Monday stated that it found that “MSIL had an agreement with its dealers whereby the dealers were restrained from offering discounts to the customers beyond those prescribed by MSIL”.
Hindalco: Hindalco Industries Chairman Kumar Mangalam Birla on Monday said the company has started FY22 at a strong pace and continues to see a strong demand across business verticals despite the impact of the second wave of COVID-19.
Vedanta: In a regulatory filing, the firm said it has “notified the DGH and Ministry of Petroleum and Natural Gas on August 23, 2021, of a gas and condensate discovery in its exploratory well Jaya1 (earlier Jambusar-Updip-1), drilled in OALP Block CB-ONHP/2017/2 in Bharuch District of Gujarat.”
Telecom stocks: Vodafone Idea continued to lose mobile subscribers in June, ceding fresh ground to rivals Reliance Jio and Bharti Airtel which added 54.6 lakh and 38.1 lakh customers, respectively, in the fiercely-competitive Indian telecom market, according to monthly data by TRAI.