The Indian equity market is likely to open in the red today as SGX Nifty was trading 38 points lower at 17,709. Market ended higher in the first session of the new fiscal on Friday. Sensex rose 708 points to 59,276 and Nifty ended 205 points higher at 17,670.
NTPC, PowerGrid, IndusInd Bank, SBI, HDFC and M&M were the top gainers, rising up to 5.93% today. Tech Mahindra, Sun Pharma, Dr Reddy’s, Titan and Infosys were the sole Sensex losers, falling up to 0.80%.
BSE mid cap and small cap indices rose 335 points and 483 points, respectively.
Here’s a look at stocks that are likely to remain in news today.
Tata Motors: Total domestic sales rose 30 per cent to 86,718 units in March as compared to 66,462 units in the year-ago period. The company said its passenger vehicle wholesales rose by 43 per cent to 42,293 units last month as against 29,654 units in March 2021.
Share Market LIVE: Sensex, Nifty likely to open flat today
Mahindra & Mahindra: M&M’s total sales increased by 35 per cent to 54,643 units in March as compared with the year-ago period. The Mumbai-based auto major had dispatched 40,403 units in March 2021.
Adani Enterprises: Andhra Pradesh has cancelled bids made for two separate tenders by Adani Enterprises to supply imported coal as the prices quoted were too high, two state government officials told Reuters. It is the first time in recent years that a major government tender for imported coal has been cancelled over high prices. Details on the cancellation have not been previously reported.
TVS Motor Company: Subsidiary TVS Motor (Singapore) has bought 70 percent stake in UK-based EBCO, for GBP 1,163,070. EBCO provides smart connected mobility solutions through a pipeline of e-bikes across the city and mountain biking segments. TVS Motor also logged sales of 3.07 lakh units in March 2022, which fell compared to 3.22 lakh units sold in same month last year.
Hero MotoCorp: The company sold 4.50 lakh units of motorcycles and scooters in March 2022, falling sharply compared to 5.76 lakh units sold in the corresponding month last year. In FY22, sales dropped to 49.44 lakh units, compared to 57.91 lakh units sold in previous year.
HDFC Bank: Deposits rose nearly 17 percent YoY and 8 percent QoQ in Q4 FY22 while advances gained 21 percent YoY and near 9 percent QoQ. CASA Ratio came at an all-time high of 48.2 percent.
Dr Reddy’s Laboratories: The company has signed an agreement with Novartis AG to acquire the cardiovascular brand Cidmus in India. The acquisition cost is $61 million.
JSW Energy: Subsidiary JSW Neo Energy has inked an agreement with the Chhattisgarh government for setting up a 1,000 MW capacity of hydro pumped storage project in Chhattisgarh.
Read More: Stocks in news: Tata Motors, Adani Enterprises, HDFC Bank, JSW Energy and more