January 27, 2022

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Reliance Industries, HDFC Bank, Mahanagar Gas, RBL Bank and more

Stocks in news: Reliance Industries, HDFC Bank, Mahanagar Gas, RBL Bank and more

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Stocks in news: Reliance Industries, HDFC Bank, Mahanagar Gas, RBL Bank and more

The Indian equity market is likely to open lower on Thursday as SGX Nifty fell 157 points to 17,788. On Wednesday, benchmark indices rose for the fourth straight session led by strong gains in banking and financial stocks amid a supportive trend in European equities.

Sensex zoomed 367 points to reclaim the 60,000-mark. The index ended 0.61 per cent higher at 60,223 and Nifty rose 120 points to 17,925. Bajaj Finserv was the top Sensex gainer, rising 5.09 per cent, followed by Bajaj Finance, Kotak Bank, Axis Bank, Tata Steel, HDFC Bank, Asian Paints and ICICI Bank.

Tech Mahindra, Infosys, HCL Tech, Wipro and PowerGrid were among the top Sensex losers, falling up to 2.87%.

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

Reliance Industries: Mukesh Ambani-led Reliance Industries has launched a mega bond sale targeting to raise $3-$5 billion from offshore investors. The proceeds will be used to refinance existing debt with a likely funding cost benefit.

HDFC Bank: The private sector lender has sold distressed retail loans worth Rs 2,188 crore to asset reconstruction companies (ARCs) in the last three quarters.

Future Group: The Delhi high court has stayed arbitration proceedings initiated by Amazon.com Inc. in Singapore against Future Group for violating contracts.

Jet Airways: The acting chief executive of Jet Airways, Sudhir Gaur, has resigned even before the airline could restart operations under its new promoters.

NHPC: NHPC and Green Energy Development Corporation of Odisha (GEDCOL) have inked a promoters’ pact for forming a joint venture firm for development of 500 MW floating solar power projects in various water reservoirs in Odisha.

Mahanagar Gas: Life Insurance Corporation of India has bought a 2% stake in the company via open market transactions, raising its shareholding to 7.01% from 5% earlier.

Geojit Financial Services: The NBFC arm of leading brokerage firm, Geojit Credits, launched a digital platform to offer loans against shares (LAS), thereby becoming the first company to offer LAS digitally to any demat account holder registered with the National Securities Depository Ltd (NSDL).

 RBL Bank: Gross advances rose five per cent year-on-year to Rs 59,941 crore as of December 31, 2021. The bank said it is a provisional figure for Q3FY22. The lender reported gross advances amounting to Rs 57,092 crore by the corresponding period a year ago.

GAIL: The company has bought 26 percent in ONGC Tripura Power Company (OTPC). OTPC owns and operates a 726.6 MW gas-based combined cycle power plant in Palatana, Tripura.

Gautam Gems: The company will consider the Rights Issue of equity shares, along with unaudited financial results for the December quarter on January 13.

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