RIL, ONGC, Maruti Suzuki, Ambuja Cements, HDFC Life, SBI, Adani Power, and other stocks should be watched today. Here are some stocks that are anticipated to continue receiving news coverage today.
Leading from negative global cues, benchmark indices ended lower for the third session in a row on Friday. The Sensex and Nifty both decreased by around 2% to finish the week in the red. At 58,840.79, the Sensex sank 1,093.22 points. To close at 17,530.85, Nifty lost 346.55 points, or 1.94 percent, of its value. The market capitalization of BSE-listed companies decreased to Rs. 279.68 lakh crore from Rs. 285.87 lakh crore. In the previous session, resulting in a loss to investors of Rs. 6.19 lakh crore.
Top news that Sensex losses were Ultra Tech Cement, Tech Mahindra, Infosys, Mahindra & Mahindra, Wipro, TCS, Nestle, and Reliance Industries. With a decline of up to 4.51%. With an increase of up to 2.63 percent, IndusInd Bank was the lone gainer.
- RIL and ONGC: In response to a drop in the price of crude oil globally. The government has lowered the tax on windfall profits. On produced crude oil as well as, on the export of diesel and turbine fuel. According to a notice from the Ministry of Finance, the government has reduced the cess on oil to Rs. 10,500 per tonne. Additionally, the tax on ATF. Fuel has reduced to Rs 5 and Rs 10 per liter respectively.
- Maruti Suzuki India: The largest automaker in the nation. Maruti Suzuki India, has made the decision to recall 5,002 super-cargo cars produced between May 4 and July 30. The bolt fastened to the bracket holding the co-driver seat’s seat belt buckle recalled for inspection and tightening. A potential flaw in bolt torquing is thought to exist.
- Ambuja Cements, ACC, Adani Enterprises: The Adani family announced that it had finalized. The acquisition of Ambuja Cements & ACC and was now the second-largest cement producer in the nation. Following the completion of the transaction with Swiss company Holcim and an open offer. The Adani family’s special-purpose business Endeavour Trade and Investment completed the acquisition.
- HDFC Life: The merger of Exide Life Insurance and HDFC Life Insurance had approved by the National Company Law Tribunal (NCLT) on Friday. In a regulatory statement, HDFC Life Insurance stated that the Mumbai bench of NCLT had approved the amalgamation plan.
- SBI: The largest lender in the nation, State Bank of India (SBI), announced that it had bought a 14% stake in SBI Global Factors from other shareholders, turning the company into a 100% subsidiary. According to a regulatory filing. SBI has bought 13.82 percent of the equity held by the existing owners. SIDBI (6.53%), Bank of Maharashtra (4.34%), and Union Bank of India (2.95%).
- Adani Power: Due to the lack of receipt of stock exchanges in-principle consent, Adani Power’s promoter, Properties of Adani, withdrew an application to the firm, according to the company. In a regulatory filing, the business said that it had received a letter from a promoter group member asking for the delisting offer to withdrawn. The letter noted that the company would be taking the necessary actions, which would include, among other things, documenting and recording the company’s board of directors letter of delisting withdrawal.
- Mahindra Holidays & Resorts India: The corporation increased its ownership stake in Rocksport to 23.42%. For just under Rs 8 crore, it has purchased the remaining 3,25,547 equity shares of Rocksport. Outdoor entertainment, adventure programs, educational adventure tours, and the sale of branded adventure goods are all offered in India by Rocksport.
- Granules India: The business has chosen to begin its share repurchase program on September 27 and end it on October 11. The corporation would repurchase up to Rs 250 crore worth of shares at a set price of Rs 400 per share.
- Mafatlal Industries: The Board of Directors of the firm has authorized the division of existing equity shares from one equity share with a face value of Rs. 10 per share to five shares (face value of Rs 2 each). In due time, a notice of the record date for the division of shares will be provided.
- Shree Renuka Sugars: The company stated that by December 2022, the increased ethanol production capacity, from 720 KLPD to 1250 KLPD, is anticipated to begin operating. India The board meeting to assess the proposal for collecting money through a preferential allotment is scheduled for September 23, according to the firm.