Indian markets are likely to open lower on Wednesday, following loses in global peers. At 7:10 am, the SGX Nifty was trading 65.00 points or 0.41 percent lower at 15,766.00, implying a negative start for the broader index in India, cncbctv18.com reported.
Top stock to look for the day:
Mahindra & Mahindra: The company will acquire up to 31.2 percent stake in ReNew Sunlight Energy (RSEPL) for Rs 16.07 crore.
NMDC: The government’s Offer for sale (OFS) in the company got off to a good start on Tuesday, with institutional investors putting in bids worth over Rs 3,700 crore.
Bajaj Auto: The company has reduced the price of Dominar 250 motorbike by Rs 16,800 to Rs 1,54,176 (ex-showroom Delhi).
Titan Company: The company recorded revenue growth of around 117 percent (excluding bullion sales) in Q1FY22. The Jewellery division grew by around 107 percent (excluding bullion sales), compared to last year, which is primarily due to zero sales in April of last year. Whereas their watches and wearables division grew by around 280 percent and EyeWear division grew by around 117 percent, YoY.
Kotak Mahindra Bank: The private lender’s subsidiary Kotak Securities has entered into an agreement to buy a 9.96 percent stake in Kredent InfoEdge Pvt Ltd for Rs 10 crore.
Sobha: The real estate developer achieved a total sales volume of 8,95,539 square feet of super built-up area valued at Rs 682.9 crore in Q1FY22 against 6,50,400 square feet of super built-up area valued at Rs 487.7 crore sold in Q1FY21.
TVS Motor Company: The company has launched a 125 cc scooter NTORQ 125 Race XP, priced at Rs 83,275 (ex-showroom, Delhi).
Tata Power: The company’s shareholders approved the re-appointment of its Chairman Natarajan Chandrasekaran as director of the firm.
RBL Bank: The lender’s total deposits in Q1FY22 grew by 21 percent YoY to Rs 74,480 crore and gross advances increased by 2 percent to Rs 58,755 crore in June 2021 quarter.
Mastek: The Indian multinational tech company has appointed Hiral Chandrana as the Global Chief Executive Officer of Mastek Group.
Gillette India: The company appointed Gautam Kamath as Chief Financial Officer and Additional (Executive) Director w.e.f. August 1.