The Indian stock market is likely to open in the green today as SGX Nifty traded 97 points higher at 17,379. The Singapore Stock Exchange is considered to be the first sign of the opening of the Indian market. Sensex closed 1,047.28 points or 1.84 percent higher at 57,863.93 on Thursday and Nifty rose 311.70 points or 1.84 percent to close at 17,287.05.
HDFC was the biggest gainer on Sensex, up 5.50 percent, followed by Titan, Reliance, Kotak Bank, Asian Paints, Sun Pharma and Tata Steel. Infosys and HCL Tech were the only losers on Sensex, falling as much as 1.81 percent.
Here's a look at the stocks that are likely to remain in the news today.
Trusted Industries: Reliance Retail Ventures Ltd said it acquired 89 per cent of the shares in Purple Panda Fashions Pvt Ltd, which owns and operates underwear brand Clovia, for Rs 950 crore. The acquisition cost of Rs 950 crore includes the secondary stake purchase and the main investment. The founding team and the management team will own the rest of the stake in the company, the retail subsidiary of Reliance Industries Ltd (RIL) said.
Share Market LIVE: Sensex, Nifty likely to open higher today
HDFC: Housing Development Finance Corporation Limited (HDFC) said that its wholly owned subsidiary HDFC Capital Advisors Limited (HCAL) will buy approximately 7.20 per cent of the shares or 3,90,666 shares of capital at Rs 28.16 per share from the services real estate broker Loyalie IT-Solutions Private Limited on a fully diluted basis.
Indian granules: The company has received licenses from the Medicines Patent Pool to manufacture and market generic versions of Pfizer's oral treatment nirmatrelvir. This medication will be co-packaged with ritonavir for the treatment of COVID-19. The licenses are applicable both to the active pharmaceutical principles and to the finished products, in the form of tablets, of nirmatrelvir; ritonavir.
Torrent Pharma: The company signed an agreement with the Medicine Patent Pool to manufacture and market a generic version of the Pfizer Oral COVID-19 treatment.
Dhanlaxmi Bank: The bank's board of directors has approved the rights issue of up to Rs 130 crore.
State Bank of India: SBI has signed an agreement to provide a $1 billion line of credit to Sri Lanka.
KEI Industries: Smallcap World Fund Inc purchased 6.4 lakh equity shares in the company through open market transactions on March 16. With this, his stake in the company increased to 5.02 percent, from 4.31 percent previously.
Jindal Steel and Power: The firm said it prepaid a $357 million loan from its wholly owned subsidiary Jindal Steel & Power (Mauritius) (JSPML). The prepayment will help pay off all of JSPML's debt. The loan also had corporate guarantees from JSPL India, which will also be released, the company said. In the past three years, JSPL "has been able to reduce its foreign debt from $1.8 billion to $130 million after this payment." Most of JSPL's overseas debt is now held by its Australian subsidiary ($113 million), it added.
NMDC: The state miner announced that it has touched a record iron ore production of 40 million tonnes (MT) in this fiscal year so far. In the previous fiscal year, the company had produced 35 MT of iron ore. "NMDC makes history by becoming the first company in the country to cross iron ore production of 40 million tonnes (MT) in one (financial) year," the Steel Ministry said. By the end of the current fiscal year, production would reach a level of 42 MT, a company official reported.
EIH: The board of directors of the hotel company authorized the sale of all the shares in the subsidiary EIH Flight Services, Mauritius for Rs 55.2 crore.
NBCC (India): The company has received a task order from the Ladakh Union Territory Administration, to provide comprehensive design, engineering and project management consulting services for various works. The estimated cost of the project is Rs 500 crore.
