Stocks in news: M&M, Sobha, HDFC Bank, Infosys and more

The Indian equity market is likely to open in the green today as SGX Nifty was trading 28 points higher at 17,766. Equity market fell for the third straight session Thursday, tracking heavy losses in index-heavyweights HDFC twins, TCS and Reliance Industries amid weak global cues. Sensex slumped 575.46 points to end at 59,034 and Nifty declined 168.10 points to 17,639.55.

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

Banks and financials: Shares of banks will be in focus as the RBI will announce its decision on key interest rates on Friday.

Mahindra & Mahindra: The carmaker said a deal to sell its bankrupt unit, SsangYong Motor Co to South Korean electric carmaker Edison Motors Co had been terminated. The receiver of SsangYong cited Edison's inability to deposit the bid amount for the termination of the deal, Mahindra said.

NTPC: The Maharashtra government has cleared a joint venture between state-run MahaGenco and India's largest power generator NTPC which will set up an ultra-mega solar power park with a total generation capacity of 2,500 MW.

Dr. Reddy's Laboratories: The drugmaker has received nod for the National Company Law Tribunal (NCLT), Hyderabad Bench for the scheme of amalgamation of Dr Reddy's Holdings an entity held by the Promoter Group, which holds 24.83% equity shares of Dr. Reddy's Laboratories into the company.

Share Market LIVE: Sensex, Nifty likely to open flat ahead of RBI policy

Sobha Ltd: The company achieved a total sales volume of 1.34 mln square feet and reported sales value of Rs 11.10 billion in Q4. Cash flows remained healthy during the quarter resulting in further net debt reduction. Average cost of borrowing has further come down during the quarter.

HDFC Bank: Chief technology officer Ramesh Lakshminarayanan  said the bank's key focus will be to ensure front-end synergies, and it will also look at one IT platform to acquire and service customers of both entities.

Cholamandalam Investment and Finance: The company disbursed around  Rs 12,718 crore in Q4FY22, up 58% from a year ago. Collection efficiency on billing rose across all product segments and stood at 138% in Q4FY22 against 120% in the year-ago period.

Infosys: The IT company and Rolls-Royce have extended strategic partnership with launch of 'Aerospace Engineering and Digital Innovation Centre in Bengaluru. This centre will provide high-end research and development (R&D) services integrated with advanced digital capabilities to Rolls-Royce.

Sterling and Wilson Renewable Energy: The company reported a loss of Rs 126.61 crore in Q4, which narrowed from a loss of Rs 344.80 crore reported in the same period last year.

Indiabulls Real Estate: The company has launched a QIP for which floor price has been set at Rs 106.38 per share.

Lupin: The company has launched Merzee, in the US market, under an exclusive licence, marketing and distribution agreement with Slayback Pharma LLC.

Concor: The Cabinet may soon consider the Finance Ministry's proposal of reducing the Indian Railways' land licensing fee from six per cent to three per cent of the market value of the land.

Stating this, government sources told Business Today TV that the move would help facilitate the privatisation of the state-run Container Corporation of India Ltd (Concor).

In 2021, the Ministry of Railways had circulated a draft cabinet note on the land lease policy, suggesting a reduction in the land licensing fee to two per cent. "The Finance Ministry had also approved this last year. We are now expecting cabinet approval later this month", the sources added.

Lupin: The drug maker said it has launched Merzee capsules, a medication used to prevent pregnancy, in the US market. The Mumbai-based drugmaker has launched the product in the US market under an exclusive license, marketing, and distribution agreement with Slayback Pharma LLC, Lupin said.

Sonata Software: Global IT services and solutions firm announced that Sami Dhir has been appointed as CEO of the company effective April 8, 2022. It added that its current CEO Srikar Reddy is voluntarily stepping down and will be continuing as Managing Director of the firm.

Tata Steel: The Kolkata bench of the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by its wholly-owned subsidiary Tata Steel Mining Limited, for the acquisition of debt-laden Rohit Ferro-Tech Limited.