Benchmark indices closed lower on Wednesday led by losses in banking, auto and consumer durables shares. Sensex ended 635 points lower at61,067. During the day, the 30-stock index tumbled 764 points to 60,938. Nifty dipped 186 points or 1.01 per cent to end at 18,199. IndusInd Bank (2.37%), Bajaj Finserv (2.16%), Maruti (2.15%), Ultratech Cements (2.14%), Tata Motors (1.98%) and Axis Bank (1.91%) were among the top losers.
Here’s a look at stocks that are likely to remain in news today.
Sula Vineyards: India’s largest wine producer will make its market debut. The company had raised a little more than Rs 960 crore between December 12-14 and sold its shares Rs 357 apiece, which was entirely an offer for sale.
Reliance Industries: Reliance Retail Ventures, a subsidiary of the Mukesh Ambani-led Reliance Industries (RIL), will fully acquire the food wholesaler METRO Cash & Carry for a total of Rs 2,850 crore. The transaction, however, is subject to regulatory and other closing conditions and is likely to materialise by March 2023.
Adani Enterprises: Adani Solar, a subsidiary of Adani Group’s flagship firm, the photovoltaic manufacturing and research arm of the Adani Group, has launched large-sized monocrystalline silicon ingot, at its Mundra facility. It will produce renewable electricity from silicon-based PV modules with efficiencies.
Bandhan Bank: The private sector lender has received binding bid of Rs 801 crore from asset reconstruction company, on security receipt consideration basis, for its written-off portfolio with outstanding of Rs 8,897 crore. The bank said it would go for bidding as per Swiss challenge method.
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Adani Power: The Adani Group’s utility firm said it has received a B score for climate change transparency from CDP (Carbon Disclosure Project) for 2022. This is higher than the global and Asia regional average of C, and same as the thermal power generation average of B.
Bharat Forge: The castings & forgings company has started supply of forgings utilizing green steel, manufactured and supplied by Saarloha Advanced Materials, a part of the Kalyani Group.
JB Chemicals & Pharmaceuticals: The private equity firm KKR-backed JB Chemicals has completed acquisition of Razel franchise from Glenmark Pharmaceuticals. Last week, it had agreed to buy Glenmark’s cardiac brand Razel in India and Nepal for Rs 313.7 crore.
Just Dial: The internet firm’s promoter Reliance Retail Ventures, a subsidiary of Reliance Industries, offloaded 16,86,119 shares or 2 per cent stake at an average price of Rs 600 apiece for Rs 101.16 crore in order to comply with the minimum public shareholding norms.
Speciality Restaurants: The restaurants firm’s board has cleared issue of 60 lakh warrants convertible into equity shares on preferential basis, at a price of Rs 212.05 per warrant. 25% of the warrant issue price will be payable at the time of subscription and the balance 75% at time of conversion on or before April 30, 2023.
Supriya Lifescience: The pharma company has inked an agreement with Pune-based Enrich Energy to develop 4.68 MWp DC solar photovoltaic power project at Nanded in Maharashtra. This project will generate & supply green energy to fulfill about 50 per cent present consumption of the company and decrease carbon emission.
Lyka Labs: The drug maker has inked a pact to buy animal healthcare business from Agilis Healthcare. In November, it had proposed acquisition of animal healthcare business.
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