Stocks in news: Adani Wilmar, Dr Reddy's, Tata Motors, Adani Ports and more

Benchmark indices fell sharply on Tuesday, dragged by index heavyweight Reliance Industries, HDFC twins (HDFC and HDFC Bank) and ICICI Bank. Sensex was down 631 points or 1.04 per cent at 60,115. The NSE benchmark lost 187 points or 1.03 per cent to settle at 17,914. 

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

Tata Motors: The auto firm has completed the acquisition of Ford India's manufacturing plant at Sanand through its subsidiary. In August 2021, the company had announced that its arm Tata Passenger Electric Mobility Ltd (TPEML) would acquire Ford India Pvt Ltd's (FIPL) Sanand plant, Gujarat for Rs 725.7 crore.  

Adani Wilmar: The company expects sales in the December quarter to grow in high single digits, led by strong demand during the festive season and stronger out-of-home consumption. Standalone sales volume will grow in high teens, the company said.  

Adani Ports and Special Economic Zone: The firm in consortium with Israel’s Gadot Group has completed the purchase of Haifa Port in northern Israel for $1.15 billion. The sale of one of Israel's main seaports has taken five years and marks the culmination of a nearly two-decade reform of an underperforming sector plagued for years by labour strikes. 

Uttam Sugar Mills: The company will invest Rs 56 crore to raise distillery capacity to 250 kl per day from 150 kl per day at its unit in Barkatpur, Uttar Pradesh. The company expects to complete the proposed capacity expansion by December. The capacity expansion will be funded through internal accruals and loans under the interest subvention scheme. 

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Dr Reddy's: Theranica, a prescribed digital therapeutics company developing advanced neuromodulation devices for migraine and other pain conditions, has announced a strategic license and supply agreement with Dr Reddy's Laboratories Ltd. for the exclusive marketing and distribution of FDA-approved Nerivio in India, subject to completion of the regulatory approval process in India. 

Sigachi Industries Ltd: The board of the company has given approval for raising funds by way of the issue of equity or convertible warrants on a preferential basis to the promoters and non-promoters. It will issue up to 1.10 crore convertible warrants to the promoters at Rs 285.30 per share. 

NTPC: State-owned energy giant NTPC Ltd said its coal output increased 51% year-on-year from its captive mines to 14.55 million tonne (MT) in April-December 2022.  

Axis Bank: Axis Bank has entered into a revised agreement with Max Financial Services to acquire an additional 7% stake in Max Life Insurance at fair market value using discounted cash flow method.  

Coal India: Coal India Ltd said that the coal off-take from its subsidiary Mahanadi Coalfields peaked at 146.12 million tonnes (MTs) on 5 January, overtaking the total supplies that the company registered for the full year of FY21. Mahanadi Coalfields (MCL) supplied 146 MTs of coal in FY21. As of the referred date, MCL’s year-on-year growth in supplies was around 11%. It supplied 132 MTs of coal a year ago same period. 

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PC Jeweller: Domestic sales in the quarter ended December climbed 38% on year to Rs 829 crore. The jewellery maker opened a new franchisee showroom in Bihar during the quarter. 

Welspun Enterprises: Shares of the civil construction company will trade ex-dividend in respect of its special dividend amounting to Rs 7.5 per share. 

5Paisa Capital: The brokerage company will release its earnings for the quarter ended December. 

Universal Autofoundry: The auto ancillary company’s board meeting will be held for appointment of Vikram Jain as whole time director of the company.