Benchmark indices fell sharply on Wednesday, extending their losing run for the fourth straight session amid weak global cues. The 30-share BSE Sensex pack dived 928 points or 1.53 per cent to settle at 59,745; while the broader NSE Nifty index moved 272 points or 1.53 per cent down to close at 17,554. Mid and smallcap shares finished on a weak note, with the Nifty Midcap 100 down 1.13 per cent and Nifty Smallcap 100 moving 1.14 per cent lower. India VIX jumped 11.27 per cent to 15.59.
Here’s a look at stocks that are likely to remain in news today.
Gujarat Gas
The company’s board has cleared the appointment of Raj Kumar, IAS as Chairman of the company with effect from February 21.
Lemon Tree
Lemon Tree has inked a license agreement for a 47 room property in Bhopal under the company’s brand Lemon Tree Hotel. The hotel is likely to be operational by December, 2023. It will feature 47 well-appointed rooms, a restaurant, a banquet, a gym and other public areas.
Orient Cement
Orient Cement has inked a non-binding agreement with Adani Power Maharashtra for setting out the understanding for facilitating bona fide use of land identified for exploring the possibility of establishing a cement grinding unit in Maharashtra’s Tiroda.
Hero MotoCorp
Hero MotoCorp has started operations of its public charging infrastructure in Bengaluru, Delhi and Jaipur. Vida, powered by Hero, has set up nearly 300 charging points at 50 locations across the three cities for public use.
Greaves Cotton
Greaves Cotton has announced leadership expansion across retail, finance, and e-mobility businesses, to steer the next phase of growth. This includes the appointment of Narasimha Jayakumar as CEO of retail business, Sandeep Divakaran as CEO of Greaves Finance, and Chandrasekar Thyagarajan as CFO of Greaves Electric Mobility.
Biocon
Kotak Mahindra Bank’s arm Kotak Special Situations Fund, managed by Kotak Investment Advisors has announced an investment of Rs 1,070 crore in Biocon. Biocon will use the proceeds to finance Biocon Biologics’ acquisition of the biosimilars business of its partner Viatris to create a global vertically integrated biosimilars player.
Mahindra CIE Automotive
The automotive components supplier has logged a massive 153% year-on-year growth in consolidated profit at Rs 195 crore for quarter ended December 2022, led by strong operating performance and exceptional gain. Revenue for the quarter stood at Rs 2,247 crore up 35% over a year-ago period.
Barbeque-Nation Hospitality
UTI Mutual Fund has purchased an additional 0.14% stake or 54,829 equity shares in the casual dining chain via open market transactions on February 21. The shareholding in the company has now risen to 9.1753%, up from 9.0346% earlier.
HG Infra Engineering
The firm has been declared as L-l bidder by Rail Vikas Nigam Limited, Chandigarh for the project in Himachal Pradesh. The project includes construction of foundations, substructure & superstructure along with river training/protection work, earthwork & allied works for viaduct 1 & 2 in between chainage, in connection with Bhanupali-Bilaspur-Beri new railway line in Bilaspur of Himachal Pradesh. The bid project cost by HG Infra is Rs 466.11 crore and the construction period is 30 months.
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