Indian equity benchmarks took a sharp plunge on Friday, extending their fall for the fourth straight session. Sensex crashed 981 points or 1.61 per cent to close at 59,845, while Nifty lost 321 points or 1.77 per cent to 17,807. Such was the drop in the domestic bourses that seven out of every eight stocks finished in the red and over 8.42 lakh crore of BSE market capitalisation was wiped out. Frontline stocks such as Reliance Industries, SBI, Maruti, ITC, HDFC twins (HDFC and HDFC Bank), ICICI Bank and Axis Bank contributed to the fall.
Here’s a look at stocks that are likely to remain in news today.
NDTV: The founders of the company, Radhika Roy and Prannoy Roy, will sell 27.26% of their stake in the company to Adani Group-owned RRPR Holding. Consequently, Adani Group will hold 64.71% stake in the news broadcaster.
Tata Motors: Subsidiary TML CV Mobility Solutions has inked a contract from the Delhi Transport Corp to supply, operate and maintain 1,500 electric buses in the city for 12 years.
Suven Pharmaceuticals: Advent International has inked an agreement with the promoter to acquire a significant stake in the company. The private equity firm will make an open offer to acquire an additional 26% stake in the drugmaker.
Quess Corp: The company has withdrawn plans to merge its subsidiary Allsec Technologies NSE -1.19 %, but did not elaborate on what triggered the decision.
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Alkem Laboratories: The company will sell 8% stake in arm Enzene Biosciences to two funds for Rs 160 crore. Proceeds from the sale will be used for capacity expansion in India and the US.
Wipro: The IT company has bought a minority stake in US-based Kibsi Inc for $1.5 million. The acquisition is to build a partnership in computer vision applications.
Equitas Small Finance Bank: The bank has extended the term of managing director and chief executive officer P N Vasudevan by three years.
PNC Infratech: The firm has received Rs 3.65 crore towards an arbitral award with respect to a construction project in West Bengal. Given the amount is very less, it is not expected to materially impact the company’s financials.
Lasa Supergenerics: National Company Law Tribunal has approved the merger of Harishree Aromatics Chemicals PVt Ltd with the company.
SJVN: The company has inked a 100-MW wind power project from Solar Energy Corporation of India.
Siemens: The company has received a letter of award from the railways ministry for a 9,000 horsepower electric locomotives project in Gujarat.
DB Realty: The company’s wholly owned subsidiary Neelkamal Realtors Tower has entered into a 50:50 joint venture with Godrej Properties for development of land parcels measuring 19,434 square meters in Mumbai.
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