That said, here is a list of stocks buzzing this morning.
Reliance Industries: Billionaire Mukesh Ambani’s Reliance Industries said it has secured approval of its shareholders and creditors for hiving off its oil-to-chemical (O2C) business into a separate unit.
Adani Enterprises: The company said it has won a Rs 1,169.10 crore highway project in Odisha from the National Highways Authority of India (NHAI). The contract has been won by Adani Enterprises’ wholly-owned subsidiary Adani Road Transport Ltd (ARTL).
Bajaj Auto: The two-wheeler maker said its total sales stood at 3,69,448 units in March. The Pune-based company had dispatched 2,42,575 units in March 2020, amid COVID-19 led disruptions.
Future Retail: Reliance Retail Ventures, the retail arm of Reliance Industries, has extended the timeline for six months to complete its Rs 24,713 crore deal with Kishore Biyani-led future group to buy its retail and wholesale business.
Bajaj Electricals: The company said it has declared lay-off at its manufacturing unit located at Shikohabad in Uttar Pradesh. The layoff is with effect from April 3, 2021, until further notice, the company said in a regulatory filing.
Dalmia Bharat: Cement maker Dalmia Bharat said securities worth Rs 344 crore have been credited back to the demat account of its arm by IL&FS Securities Services following an order of the Supreme Court.
SAIL: Steel Authority of India clocked its best ever quarterly sales at 4.27 million tonnes (MT) during the March quarter of the last fiscal year, up 14 per cent over the year-ago period.
V-Mart Retail: Value fashion and lifestyle products retailer V-Mart Retail said it has opened six new stores as part of the expansion of its sales network. “The Company has opened six new stores, four stores in the state of Uttar Pradesh, one store in the state of Bihar and one store in the state of Rajasthan,” V-Mart Retail said in a regulatory filing.
Bharat Road Network: The company, along with its partners, has inked a deal with Cube Highways for the sale of the entire stake in Ghaziabad Aligarh Expressway Private Limited. The proceeds from the sale will be utilised to reduce debt and also capitalise on growth opportunities in the highways sector.
Coal India: MCL, a subsidiary of Coal India, said it has posted a record production of 148.01 million tonne and achieved the highest-ever dispatch of 146 million tonne in the 2020-21 fiscal.
SBI: The country’s largest lender has said on its website that its home loan rates will start from 6.95%, effective April 1.
HDIL: NCLT Mumbai bench has dismissed an application seeking to conclude the transfer agreement of a project by beleaguered developer.
Godrej Consumer: The FMCG firm has embarked on a go-to-market mission to increase its distribution footprint to 1.5 million direct coverage outlets, from 1.2 million, and enhance indirect coverage to 7 million from 6 million in 2-3 years.
M&M: The automaker has decided not to make sedans, hatchbacks and smaller SUVs, but looks to have an all-new brand of premium, electric SUVs under its Italian subsidiary Pininfarina.
Vedanta Resources: Diversified natural resources firm has said it contributed $ 4.66 billion (Rs 34,018 crore) to the public exchequer in India during the 2019-20 fiscal.
Cairn India: The oil ministry will seek tens of millions of dollars from Vedanta’s Cairn Oil & Gas after the Delhi high court held that the firm was liable to pay higher profit share to the government in lieu of its Rajasthan oil and gas block licence being extended beyond initial term, a top official said.
GMR Infra: Infra major GMR Group launched a new business vertical dedicated to fostering and driving innovation -GMR Innovex – with a vision to create an enabling framework for innovation across all aspects of the business.
Karnataka Bank: Public sector Karnataka Bank has targeted 12 per cent business growth in the current fiscal year, expecting total business of over Rs 1.42 lakh crore. The lender also said digital banking is the way forward and it is at the cusp of engineering a breakthrough in banking industry as ground has been already laid to be the ‘Digital Bank of the Future’.
SBI Cards and Payment Services: SBI Card has been seeing over 50 per cent of its transactions via online payments such as on groceries, utility bills, insurance premium, and hopes the trend to go up further as point of sale purchases are yet to pick up, top company executive said.
Tata Motors: Jaguar Land Rover India plans to initiate ten product-related actions in the current fiscal, including new generation model launches and introduction of updated versions, in order to consolidate its position in the domestic luxury vehicle segment, according to a top company executive.
