The Indian market is likely to open lower today as SGX Nifty fell 140 points to 17,321. Sensex has gained 21.71% since the beginning of this year and risen 25.65% in one year. Similarly, Nifty has climbed 23.91% since the beginning of this year and risen 27.78% in one year.
However, the ongoing correction and volatility in Indian equities has turned benchmark indices negative on a monthly basis. While Sensex has lost 4.23% or 2,569 points, Nifty is down 4.30% or 777 points in the last one month.
Indian market closed lower on Tuesday, weighed by losses in auto and consumer durables shares amid a mixed trend in global markets. Sensex fell 166 points to end at 58,117 and Nifty fell 43 points to 17,324. ITC was the top Sensex loser, falling 2.73 per cent, followed by Bajaj Finance, Kotak Bank,┬а Bharti Airtel and RIL.┬а PowerGrid, Dr Reddy’s, Nestle India, Axis Bank, and ICICI Bank were among the top┬а Sensex gainers, rising up to 3.84%.
Here’s a look at stocks that are likely to remain in news today.
ITC Ltd: At its first investor meet held on Tuesday, cigarette-to-hotels conglomerate ITC Ltd outlined a capex of around┬а Rs 3,000 crore per annum, totalling┬а Rs 10,000 crore over next three years.
State Bank of India: The country’s largest lender has raised Rs 3,974 crore by issuing Basel III compliant bonds to subscribers. The bonds, bearing coupon of 7.55 per cent payable annually, aggregating to Rs 3,974 crore were allotted to bond subscribers on Tuesday.
HDFC: The mortgage lender said it has invoked 50 lakh shares pledged by Ansal Housing to recover its dues from the company.
Vedanta: The Anil Agarwal-led company said it was committed to the decarbonisation of its aluminium business operations in the long term. It has fixed a target of achieving a 24 per cent reduction in GHG (Greenhouse Gas) emissions intensity by FY25.
GAIL India: The state-owned gas distributor plans to import India’s first and the largest to date electrolyser for producing green hydrogen within a year.
Axis Bank: The private lender said it will seek an extension of timelines for meeting financial parameters on loans recast under the Kamath committee framework because of the pandemic-related stress.
Emami: The FMCG will bring its German skincare brand Creme 21 to the Indian market, a brand which was acquired by the homegrown FMCG firm in January 2019.
Glenmark Pharmaceuticals: Ichnos Sciences Inc, a wholly owned arm of the drug maker has inked a licensing pact with Almirall SA, a global biopharma firm focused on skin health, for development and commercialisation of a compound intended for autoimmune disease indications.
One97 Communications: The anchor lock-in period for One97 Communications, parent of Paytm, expires today. Paytm made a weak market debut on November 18.
Natco Pharma: The board of the drug maker has cleared a proposal to buy US-based Dash Pharmaceuticals LLC through one of its subsidiary units for a cash consideration of $18 million.
Aditya Birla Fashion: The Kumar Mangalam Birla-led firm has inked a long-term licensing agreement with Authentic Brand Group of New York, which has the marketing and branding rights of Reebok, to run the operations of the global sportswear, athletic and lifestyle major in the country and ASEAN markets.
Mold-Tek Packaging: The company launched QIP issue on December 14 and fixed the floor price of Rs 722.40 per equity share. Deepak Nitrite: The board of directors of the chemical firm will meet on December 22 to consider raising funds.
Can Fin Homes: The housing finance firm has declared an ‘interim dividend’ of Rs 1.50 per equity share. Record date has been fixed at December 24, 2021.
Bharti Airtel: The telco has joined hands with Capgemini to bring 5G-based enterprise grade solutions in India.
Infosys: The IT firm has been selected by Orion Corporation to transform its ERP and Planning platforms, enhance employee experience, and drive business value realisation.
