Tue. Jul 26th, 2022

Stocks in news: Infosys, Indian Oil, Biocon, Hikal and more.

Benchmark indices snapped their four-day gaining streak amid weak global cues. Sensex fell 150 points to 53,026 and Nifty lost 51 points to 15,799. HUL, Axis Bank and Bajaj Finserv were the top Sensex losers, falling up to 3.46 per cent. NTPC, Reliance Industries, Sun Pharma and Ultratech Cement were the top Sensex gainers, rising up to 2.42 per cent.

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

Stocks in news: Indian Oil, Sterlite Technologies, Wonderla Holidays, Biocon, Hikal, Infosys and more

MTAR Technologies: Fabmohur Advisors LLP has sold 0.2 per cent stake in MTAR Technologies. Investor Fabmohur Advisors LLP sold 61,855 shares or 0.2 per cent stake in the company via open market transactions on June 28. With this, its shareholding in the company has reduced to 0.79 per cent from 0.99 per cent earlier.

Indian Oil Corporation: The company said the board has cleared investment for capacity expansion of Digboi refinery in Assam from 0.65 to 1 mmtpa along with associated facilities at an estimated cost of Rs 740.20 crore. The project is expected to be commissioned by October 2025.

Sterlite Technologies: Sterlite Technologies will buy balance 25 per cent stake in Jiangsu Sterlite Tongguang Fiber Co. The company inked a definitive agreement to buy balance 25 per cent stake in Jiangsu Sterlite Tongguang Fiber Co Ltd. (JSTFCL). Its current shareholding in JSTFCL is 75 per cent. With this, JSTFCL will become a wholly owned subsidiary of Sterlite.

PBA Infrastructure: PBA Infrastructure to consider voluntary delisting of shares on July 6. The company said the board will hold a meeting on July 6 to consider voluntary delisting of shares from NSE.

Infosys: The IT firm will invest $10 million in The House Fund III, LP, a Venture Capital fund based out of the US. The investment is expected to be completed by June 30 this year. This is a minority holding and is not exceeding 20 per cent of the fund size.

Sobha: The realty firm has entered into a joint development agreement to build a housing project in Chennai. Property consultant Savills India said it facilitated a joint development deal for a land parcel of 2.5 acre for the company.

Biocon: The pharma player will acquire 26 per cent stake in AMPYR Renewable Energy Resources Eleven (AREREPL) for Rs 7.5 crore. AREREPL was incorporated on April 13, 2021. It is a special purpose vehicle formed for generation and supply of solar power.

Hikal: The Smallcap World Fund Inc has sold 25 lakh shares of life science firm Hikal for over Rs 62 crore through an open market transaction. According to the bulk deal data with NSE, it sold 25,00,000 shares at an average price of Rs 249.02 apiece, valuing the transaction size at Rs 62.25 crore.

Home First Finance Company: Rating agency CARE has raised its credit rating on home finance lender. CARE has upgraded long-term credit rating on long-term bank facilities of the company from A+, to AA- with stable outlook. The credit rating is for Rs 44.23 crore long-term bank facilities.

Wonderla Holidays: The leisure company has signed agreement with the government of Odisha for leasing about 50 acre for the development of an amusement park project in Bhubaneswar, Odisha.

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