Stocks in news: Reliance Industries, NTPC, Railtel, Avenue Supermarts and more

Indian equity market closed with gains on Tuesday amid a largely strong trend in global markets after facing bouts of volatility during the session. Sensex rose 126.41 points or 0.21 per cent to end at 61,294.20. Nifty climbed 35.10 points or 0.19 per cent to end at 18,232.55. 

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

Radiant Cash Management: The company will make its debut on the bourses on Wednesday. Trend in the grey market indicates that the stock could list at a marginal premium to the issue price of Rs 99. 

Avenue Supermarts: The company, which operates D-Mart chain of supermarkets, clocked a 25% year-on-year (YoY) rise in revenue for Q3 to Rs 11,305 crore, according to the provisional figures.  

Reliance Industries: Reliance Consumer Products Limited, the FMCG arm of Reliance Retail Ventures Ltd, will buy 50% stake in Gujarat-headquartered Sosyo Hajoori Beverages Private Limited (SHBPL), which owns and operates beverage business under the flagship brand ‘Sosyo’. 

Vedanta: Alumina output at Lanjigarh refinery fell 6% YoY and 2% QoQ in Q3 to 443,000 tn due to maintenance activities in calciners. Mined metal production at 254,000 tn, was up 1% YoY, driven by higher ore production. Overall production of zinc in international business increased by 32%YoY, with continued ramp-up at Gamsberg. 

Housing Development Finance Corp: The company assigned loans amounting to Rs 8,892 crore to HDFC Bank in Q3 compared to Rs 7,468 crore in the corresponding quarter of the previous year. The gross income from dividend for rose to Rs 482 crore compared to Rs 195 crore a year ago. 

Also Read: Stocks in news: Bajaj Auto, Nazara Technologies, Dabur, Zomato and more

Reliance Capital: The insolvency process of the debt-ridden company hit a roadblock on Tuesday, as the NCLT Mumbai bench stayed the resolution process on the plea of

Torrent Group. The stay order was issued by the tribunal as Ahmedabad-based Torrent Group challenged the revised bid from Hinduja Group. 

IIFL Finance: The company will raise up to Rs 1,000 crore through public issue of secured non-convertible debentures (NCDs). The funds raised through the issue will be used for business growth.  

Can Fin Homes: The company has appointed Apurav Agarwal as the chief financial officer after Prashanth Joishy stepped down from the position. 

NTPC: The company has commissioned India’s first green hydrogen blending project. The green hydrogen blending has been started in the piped natural gas network of NTPC Kawas township in Surat. The project is a joint effort of NTPC and Gujarat Gas. 

Railtel Corp: The company has received work order worth Rs 186 crore from Coal India subsidiary South Eastern Coalfields.

State Bank of India: The lender has cleared raising another Rs 10,000 crore through infrastructure bonds in Q3 to fund credit growth. The executive committee of the bank’s central board approved the fundraise through a public issue or private placement during this financial year.


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