The Indian market is likely to open higher Thursday following strong global cues. Here are the top 10 buzzing stocks for today:
1. Reliance Industries: After record fundraising and debt prepayments, Reliance Industries Ltd now has a strong balance sheet with high liquidity that will support growth plans for its three hyper-growth engines - telecom arm Jio, retail and oil-to-chemicals business, firm’s Chairman and Managing Director Mukesh Ambani said. Reliance made pre-payment of $7.8 billion of long-term foreign currency debt, with requisite approvals from the RBI, Ambani said in the company’s latest annual report.
2. Wipro: The IT major has sold its entire 33.33 percent stake in Denim Group for a consideration of $22.42 million (about Rs 160 crore). Wipro also partnered with Finastra to help corporate banks across Asia-Pacific accelerate their digital transformation.
3. Rossari Biotech: The company will acquire Unitop Chemicals, a leading supplier of surfactants, emulsifiers and specialty chemicals, for Rs 421 crore.
4. Persistent Systems: The company will expand its relationship with IBM to help fuel open hybrid cloud adoption, core IT modernization and digital transformation for customers across the enterprise.
5. Tata Power Company: Subsidiary Tata Power Solar received EPC orders for Rs 686 crore from NTPC to set up solar PV projects.
6. Panacea Biotec: The company reported consolidated loss at Rs 54.14 crore in Q4FY21 against Rs 68.39 crore in Q4FY20. Revenue rose to Rs 168.27 crore from Rs 125.36 crore, YoY.
7. Ruchi Soya Industries: The company has forayed into the nutraceuticals and wellness segment and initially will launch 10 products under the brand ‘Patanjali’ and ‘Nutrela’.
8. Solar Industries India: FMR LLC and Fidelity International acquired 39,465 equity shares in the company via an open market transaction on May 31, raising its stake to 5.02 percent from 4.98 percent earlier.
9. Reliance Infrastructure: The company’s board will meet on June 6 to consider long-term fund-raising through the issue of equity shares.
10. MTAR Technologies: The company’s net profit in FY21 rose 47 percent to Rs 46.1 crore from Rs 31.3 crore, while revenue increased 15 percent to Rs 246.40 crore from Rs 213.80 crore in FY20.(Disclosure: Reliance Industries Ltd, which owns Jio, is the sole beneficiary of Independent Media Trust that controls Network18, the parent company of CNBCTV18.com.)