Benchmark indices recovered most of their intra-day losses and closed marginally lower on Tuesday led by buying in market heavyweights Reliance Industries and Tata Consultancy Services.
Sensex managed to trim most of its early losses and ended 103.90 points lower at 61,702.29. During the day, the 30-stock index tumbled 703.51 points or 1.13 per cent to 61,102.68. Nifty dipped 35.15 points or 0.19 per cent to end at 18,385.30.
Here’s a look at stocks that are likely to remain in news today.
Bharti Airtel: The telco has bought stake of around 8 per cent in Lemnisk under its startup accelerator programme for an undisclosed amount. Bengaluru-based Lemnisk offers real-time marketing automation and secure Customer Data Platform (CDP).
Dabur India: The firm’s promoters-the Burman family-have offloaded shares amounting to about 1 per cent stake in the company through the open market to raise funds for financing some ventures. Burman family have sold approximately 1 per cent shares through a block deal.
City Union Bank: The private sector lender has announced divergence in NPAs to the tune of Rs 259 crore consisting of 13 borrower accounts for an amount of Rs 230 crore and 218 borrowers for an amount of Rs 29 crore for the year ended March 2022.
Jubilant Ingrevia: The specialty chemicals player has raised Rs 150 crore through commercial papers. The date of maturity is February 2023, with a coupon rate of 7.05 per cent per annum.
Shyam Metalics and Energy: The metal player has forayed into the stainless steel business by buying Mittal Corp Ltd in an NCLT-led resolution process. The company will invest about Rs 7,500 crore over the next 4-5 years to scale up its metal business.
VIP Clothing: The textile player has sold its Umbergaon factory and raised Rs 10.41 crore. The funds from the sale will now be utilised in business at a different level from production, technology, innovation and marketing.
Sundaram Finance: The non-banking finance company has inked a pact with Care Health Insurance to offer specialised health insurance solutions to its customers. Sundaram Finance will provide health insurance solutions of Care Health through its extensive network.
Salasar Techno Engineering: The industrial products player has won orders of about Rs 750 crore from Pashchimanchal Vidyut Vitran Nigam. The work orders are for the development of distribution infrastructure for loss reduction in Bulandshahar, Hapur, Baghpat and Meerut districts of Uttar Pradesh.
Future Enterprises: The firm said it has defaulted on interest payment of Rs 6.07 crore for non-convertible debentures. The due date for payment was December 19, 2022.
Also Read: Sensex recovers 600 pts from day’s low; Tata Motors, HUL, Airtel top losers