Benchmark indices staged a stellar recovery rally on Tuesday a day after the market came under strong selling pressure due to ultra-hawkish stance of the US Federal Reserve. Sensex closed 1,564 points or 2.70 per cent higher at 59,537 and Nifty surged 446 points or 2.58 per cent to close at 17,759. Bajaj twins were the top Sensex gainers, rising up to 5.47 per cent, followed by IndusInd Bank, Tech Mahindra, ICICI Bank and Kotak Mahindra Bank.
Share Market Live: Sensex, Nifty likely to open lower today
Here’s a look at stocks that are likely to remain in news today.
Reliance Industries: The conglomerate has acquired the home-grown soft drink brand Campa from Delhi-based Pure Drinks Group, said reports.
State Bank of India: The lender will sell non-performing loan account of Anamika Conductors through e-bidding in late September to recover dues of Rs 102 crore. Anamika Conductors has an outstanding of Rs 102.30 crore.
NTPC: The state run electricity generator has received shareholders’ nod to raise up to Rs 12,000 crore through issuing of non-convertible debentures on a private placement basis for capital expenditure, working capital and general corporate purposes.
Tata Motors: The homegrown auto major said it has completed the acquisition of its partner Marcopolo’s stake in their bus body manufacturing joint venture Tata Marcopolo Motors. The 51:49 JV was formed in 2006.
Biocon: The drug maker said the USFDA has issued Form 483s with 11 observations each for two sites in Bengaluru and six observations for a plant in Malaysia, following inspection of seven manufacturing facilities of its arm Biocon Biologics.
Inox Leisure: The multiplex chain has a pipeline of 834 additional screens after FY23, according to the latest annual report of the company. It was operating 692 screens in 73 cities across India as on June 30, 2022, estimates the total screen count to go up to 752 by the end of ongoing fiscal year.
Zee Entertainment Enterprises: The media major announced entering into a strategic licensing agreement with Disney Star for television broadcasting rights of the ICC Men’s and Under-19 global events for a period of four years.
Finolex Industries: Majority of shareholders of the plastic products maker have cleared the reappointment of promoter chairman Prakash Chhabria and other resolutions proposed by the management, rejecting the recommendations of proxy advisory firms.
SpiceJet: The airline reported widening of net loss to Rs 789 crore in the June quarter as high fuel prices and rupee depreciation adversely impacted the budget carrier. Amid the financial turmoil, the airline plans to raise $200 million, which is around Rs 1,600 crore at current exchange rates and expects to complete the hiving-off of its profitable cargo business into a separate company in the current quarter.
RIL, ONGC: The government has hiked the windfall profit tax on the export of diesel to Rs 13.5 per litre and on jet fuel exports to Rs 9 a litre, besides raising the levy on domestically-produced crude oil in line with the hardening of global prices.