The Indian equity market is likely to open lower on Wednesday following losses in global peers. At 7:10 am, the SGX Nifty was trading 65.00 points or 0.41 percent lower at 15,776.00, indicating a negative start for the broader index in India.
Kotak Mahindra Bank | The bank’s subsidiary Kotak Securities has entered into an agreement to buy a 9.96 percent stake in Kredent InfoEdge Pvt Ltd for Rs 10 crore.
Mahindra & Mahindra | The company will buy a 31.2 percent stake in ReNew Sunlight Energy for Rs 16.07 crore.
Titan Company | The company recorded revenue growth of around 117 percent (excluding bullion sales) in Q1FY22. Jewellery division grew by around 107 percent (excluding bullion sales), compared to last year, primarily due to zero sales in April of last year. Watches and wearables division grew by around 280 percent, Eye Wear division grew by around 117 percent, YoY.
NMDC | The government’s 7 percent stake sale in NMDC got off to a good start on Tuesday, with institutional investors putting in bids worth over Rs 3,700 crore.
Bajaj Auto | The company has reduced the price of Dominar 250 bike by Rs 16,800 to Rs 1,54,176 (ex-showroom Delhi).
Sobha | The company achieved a total sales volume of 8,95,539 square feet of super built-up area valued at Rs 682.9 crore in Q1FY22 against 6,50,400 square feet of super built-up area valued at Rs 487.7 crore sold in Q1FY21.
RBL Bank | The bank’s total deposits in Q1FY22 grew by 21 percent YoY to Rs 74,480 crore and gross advances increased by 2 percent to Rs 58,755 crore.
TVS Motor Company | The company has launched a 125 cc scooter NTORQ 125 Race XP priced at Rs 83,275 (ex-showroom, Delhi).
Tata Power | The company’s shareholders approved the re-appointment of its Chairman Natarajan Chandrasekaran as director of the firm.
Mastek | Hiral Chandrana has been appointed as the Global Chief Executive Officer of Mastek Group.
Gillette India | The company appointed Gautam Kamath as Chief Financial Officer and Additional (Executive) Director effective August 1.