Benchmark indices rebounded around 1 per cent on Thursday due to value buying in banking, IT and auto stocks amid largely positive trend in the global markets. Sensex climbed 659.31 points or 1.12 per cent to end at 59,688.22. Nifty rose 174.35 points or 0.99 per cent to close at 17,798.75. Tech Mahindra, Axis Bank, ICICI Bank, Mahindra & Mahindra, Bharti Airtel, State Bank of India, UltraTech Cement, Bajaj Finserv, IndusInd Bank and Asian Paints were the top Sensex gainers, rising up to 3.23 per cent.
Tata Steel, NTPC, Titan, Nestle, Power Grid and HCL Tech were the only Sensex losers, falling up to 1.63 per cent.
Share Market Live Updates: Sensex, Nifty likely to open higher on positive global cues
Here’s a look at stocks that are likely to remain in news today.
HDFC Bank: The private sector lender has raised Rs 3,000 crore from bonds to fund business growth. The bank issued and allotted bonds to investors on a private placement basis.
Mahindra & Mahindra: Mahindra & Mahindra has unveiled the XUV400 electric SUV. The car is the first product in the electric-only XUV sub-brand which features the copper twin-peaks logo. The car is based on the eXUV300 concept car that the brand showcased at the 2020 Auto Expo and is the direct rival of India’s most popular electric car, the Tata Nexon EV.
Coal India: The state run coal miner informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with high inflation. The miner was seeking to raise prices to mitigate high input costs on account of high diesel and explosives prices, among others. CIL has not raised prices in the last four years. Separately, JP Morgan has raised its target price for Coal India Ltd (CIL) to Rs 285, maintaining an overweight stance on the state-run coal behemoth.
Vodafone Idea: The government will buy stake in the debt-ridden telecom firm after the stock price of the company stabilises at Rs 10 or above. The company’s board has offered a stake to the government at a par value of Rs 10 per share
YES Bank: Cerberus Capital and Asset Reconstruction Company of India (Arcil) are out of the race to buy more than Rs 48,000 crore of distressed loans of the private lender. They did not submit a counter-bid against a binding offer by JC Flowers ARC.
Tata Power: Tata Power Renewable Energy said it would set up a 100 MW solar power plant for Viraj Profile in Maharashtra. Viraj Profile (VPPL) is a stainless steel manufacturer, which owns and operates a plant located at Tarapur in Nandgaon.
Sona BLW Precision: The automotive technology firm said it has completed production of 1,00,000 EV traction motors. The company’s R&D team designed and developed these motors in-house and launched them for production in 2020.
PNC Infratech: The civil construction firm has signed a concession agreement for a HAM project with National Highways Authority of India (NHAI) for a project cost of Rs 1,458 crore. This road project in Uttar Pradesh is to be constructed in 24 months, upon declaration of appointed date and operated for 15 years, post construction.
Samvardhana Motherson International: The auto components maker said it would acquire Daimler India Commercial Vehicles’ frame manufacturing and assembly operations facilities in Chennai. The company has inked a strategic agreement, including a long-term deal with DICV for supply of the complete frame assembly as a part of the transaction.
Panacea Biotec: The US health regulator has asked for further corrective actions at the manufacturing unit of drug maker’s wholly owned arm at Baddi in Himachal Pradesh otherwise approval of any pending product applications from the facility may be withheld.
Reliance Power: The board has cleared a proposal to issue up to 60 crore equity shares and/or warrants at an issue price of Rs 15.55 per share . The firm plans to raise Rs 933 crore by issuing equity shares to VFSI Holdings. The board also approved the notice convening the EGM to be issued to the members seeking approval.
Century Enka: Life Insurance Corporation of India sold 4.46 lakh equity shares or 2.04 per cent stake in the company via open market transactions. With this, its shareholding in the company fell to 3.45 percent, down from 5.49 percent earlier.
Nath Bio-Genes (India): Authum Investment & Infrastructure has offloaded entire 4.38 per cent shareholding in the company through open market transactions, during August 24 and August 26.
SBC Exports: The company has received a work order from National Informatics Centre Services Incorporated (NICSI), for providing office support, project management support and rollout services. The cost of the said work order is Rs 57,88,115.
NTPC: NTPC has inked an agreement with the armed forces to supply renewable energy power, according to reports.
KRBL: The government on Thursday levied a 20 per cent export duty on non-Basmati rice except for parboiled rice to boost domestic supplies amid a fall in area under the paddy crop in the current Kharif season. According to a notification by the revenue department, an export duty of 20% has been imposed on ‘rice in husk (paddy or rough)’ and ‘husked (brown) rice’. KRBL is a rice processing and exporting company and the world’s largest rice miller.
