Stocks in news: RIL, Birlasoft, Avenue Supermarts, JSW Steel and more

Stocks in news: RIL, Birlasoft, Avenue Supermarts, JSW Steel and more

Stocks in news: RIL, Birlasoft, Avenue Supermarts, JSW Steel, HDFC, HDFC Bank, Muthoot Finance, CSB Bank and more

Stocks in news: RIL, Birlasoft, Avenue Supermarts, JSW Steel, HDFC, HDFC Bank, Muthoot Finance, CSB Bank and more
Aseem Thapliyal
  • Jul 04, 2022,
  • Updated Jul 04, 2022, 9:13 AM IST

The market closed lower on Friday led by selling in oil and gas stocks after the government imposed taxes on exports of petroleum products and windfall gains from refining of crude oil.

Sensex fell 111 points at 52,908 and Nifty closed 28 points lower at 15,752 in volatile trade. ITC, Bajaj twins and Asian Paints were the top Sensex gainers, rising up to 3.99 per cent. Reliance Industries, PowerGrid, NTPC, and Bharti Airtel were the top Sensex losers, falling up to 7.14 per cent.

Share Market Live: Sensex, Nifty likely to open lower today

Here's a look at stocks that are likely to remain in news today.

RIL: The impact of taxes on petro products exports and windfall gains on crude oil refiners imposed by the government is likely to be seen in the second straight session.

HDFC, HDFC Bank: The proposal of merger of HDFC with HDFC Bank has received approval from stock exchanges.

Birlasoft: The company has fixed July 15 as the record date for the proposed buyback worth Rs 390 crore. Its board had approved buyback of up to 78 lakh shares at Rs 500 each.

Auto stocks: Two wheeler and four wheeler firms announced their sales for June 2022 on Friday.

NTPC: State-run power giant's arm, NTPC Renewable Energy ( NREL), has inked a memorandum of understanding (MoU) with the Rajasthan government to develop 10 GW ultra mega renewable energy power parks (UMREPP) in the state. The power PSU in a statement said that NTPC Group has set a target of 60 GW renewable energy capacity by 2032.

JSW Steel: The steel maker has allocated Rs 10,000 crore to increase use of renewable energy to replace thermal power and other green initiatives. Various steel makers use coal to generate thermal power for captive use.

Avenue Supermarts: The owner and operator of retail chain D-Mart logged a nearly two-fold rise in its standalone revenue from operations to Rs 9,806.89 crore for the first quarter. The company had revenue from operations of Rs 5,031.75 crore in the April-June quarter a year ago.

Glenmark Pharmaceuticals: The drug maker has received an observation from USFDA, which issued Form 483, after an inspection at the company's formulation manufacturing facility based out of Aurangabad, India between June 27 and July 1, 2022.

Muthoot Finance: The gold loan service company has received nod of Reserve Bank of India (RBI) for opening 150 new branches for the company. It now has more than 5,443 branches across India.

Hindustan Zinc: The Vedanta group firm logged a 14 per cent rise in mined metal production to 2,52,000 tonnes for the first quarter of 2022-23. The rise in mined metal production was due to higher ore production largely at Sindesar Khurd, Rampura Agucha and Kayad mines supported by better mill recovery.

Ashoka Buildcon: The joint venture with Cube Construction Engineering and led by Ashoka Buildcon, it emerged as 'the lowest bidder' for construction and maintenance of Rajiv Gandhi Fintech Digital Institute, Jodhpur. The project cost is Rs 611 crore and construction period is 18 months from commencement date.

CSB Bank: The private lender logged a 16.16 per cent year-on-year growth in gross advances at Rs 16,332.8 crore for June 2022 quarter and total deposits rose 8.65 per cent to Rs 20,266.8 crore during the same period.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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