Stocks in news: Reliance Industries, Infosys, Adani Ports, Paytm and more

The Indian equity market is likely to open in the green today as SGX Nifty was trading 82 points higher at 17,454. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

Sensex and Nifty recovered from early fall to end over 1 per cent higher on Tuesday, led by heavy buying in index heavyweight Reliance Industries, Infosys and TCS amid a rally in global equities. Sensex closed higher by 696.81 points or 1.22 per cent at 57,989.30. It touched a high of 58,052.87 and a low of 56,930.30 in intra-day trade. Nifty rallied 197.90 points or 1.16 per cent to end at 17,315.50.

Share Market LIVE: Sensex, Nifty likely to open higher today

Tech Mahindra, Reliance Industries, Bajaj Finserv, ITC, TCS, Indusind Bank, Kotak Mahindra Bank, Infosys and Power Grid were the top Sensex gainers, rising up to 3.83%.

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

Paytm: Paytm's  parent company One97 Communications clarified that its business fundamentals remain robust, and that they have no information that may have a bearing on its share price. The clarification comes after the exchange sought a clarification from the company on the sharp fall in its share prices. Paytm stock had hit fresh lows on Tuesday.

Reliance Industries: RIL and Assets Care & Reconstruction Enterprise Limited (ACRE) accepted the letter of intent issued by the Interim Resolution Professional - Sintex Industries Limited , the company said on Tuesday. The resolution plan for Sintex Industries Limited by RIL and ACRE will now be submitted to the National Company Law Tribunal (NCLT) for approval.

TCS: The IT major is ready to put in place 5G network for any telecom operator across the globe on any given day and the company is working in India on a country-specific gears for the network, a senior company official said. TCS head for Communication, Media & Information Services Kamal Bhadada said the company is already helping telecom operators across the globe in managing their networks, swapping equipment and technology providers. Also the IT firm's buyback of shares will end today. The company planned to buy back up to 4 crore equity shares from eligible shareholders.

SBI Life: The insurance company has declared an interim dividend of Rs 2 per equity share for the financial year 2021-22. In an exchange filing, the company said its board of directors has "declared an interim dividend of Rs 2 per equity share with a face value of Rs 10 each for the financial year 2021-22". The company has fixed March 30 as the record date to determine the shareholders eligible for interim dividend which will be paid on or before April 20, 2022.

Indiabulls Housing Finance: The firm said that its board has cleared raising of funds up to Rs 50,000 crore, through issue of secured and/or unsecured non-convertible debentures and bonds on private placement basis."The Company is authorised to raise funds up to 50,000 crore, through issue of secured and/or unsecured non-convertible debentures and/or bonds, not be in the nature of equity shares (NCD and/or Bonds), in one or more tranches, on private placement basis," it said. The board has also approved the company to seek nod from the shareholders for such a fundraise in their extraordinary general meeting scheduled to be held on April 18, 2022.

Adani Ports: Billionaire Gautam Adani-led Adani Ports and Special Economic Zone Ltd (APSEZ) announced that it has crossed a "historic milestone" by handling 300 MMT of cargo ahead of the end of current fiscal year (31 March, 2022). The company also mentioned that it was "confident of reaching our goal of 500 MMT by 2025 and emerge as the world's largest private ports company by 2030."

Infosys: The IT services company said it has signed a definitive agreement to acquire Germany-based digital marketing, experience, and commerce agency oddity for up to 50 million euros. Infosys said the acquisition will strengthen its creative, branding and experience design capabilities. It expects the acquisition to close during the first quarter of fiscal 2023, subject to customary closing conditions. To consummate the transaction, Infosys will simultaneously acquire Kristall 247. Founded in 2021, Kristall 247. GmbH, with a seat in Cologne, Germany, does not have any operations.    

Indian Hotels Company: The company is set to launch a qualified institutional placement of  Rs 2,000 crore as the hotel chain gears up for business expansion after the Covid-19 pandemic.

Brigade Enterprises: The real estate company has forayed into the plotted development space with a 66-acre residential project in Devanahalli, Bengaluru.

RailTel Corporation: The company has been awarded work order from Rail Vikas Nigam (RVNL) for installation of RailTel's MPLS-VPN services for 5 years. The work order is worth Rs 11.57 crore.