The Indian market is likely to open flat Tuesday amid gains in global markets. At 8:25 am, the SGX Nifty was trading 1 point or 0.01 percent lower at 11,496.00, indicating a steady start for the Sensex and Nifty50.
Here are the top 10 buzzing stocks for today:
1. Axis Bank: The bank has proposed to acquire 17 percent share of Max Life, resulting in total ownership of 18 percent post the transaction.
2. Future Retail: The Kishore Biyani-led company has paid $14 million or about Rs 105 crores in interest dues to its coupon holders on Monday for $500 million senior secured notes.
3. Wipro: The IT major announced a partnership with a standard initial margin model (SIMM) vendor, Quaternion Risk Management to offer SIMM-in-a-box to financial institutions covered under uncleared margin rules (UMR).
4. The Phoenix Mills: The company’s promoters may sell 5.8-7.3 percent stake via block deal at a floor price of Rs 665 per share today, sources said.
5. LIC Housing Finance: The company’s net profit in Q1FY21 rose 34 percent to Rs 817.48 crore from Rs 610.68 crore, YoY, helped by lower provisioning. Net interest income (NII) increased to Rs 1,220.61 crore from Rs 1,181.86 while Net interest margin (NIM) stood at 2.32 percent as against 2.41 percent, YoY.
6. Allcargo Logistics: The company’s promoters have proposed intention to delist the company’s shares.
7. IRB Infrastructure Developers: The company reported a loss of Rs 30.14 crore in Q1FY21 as against a profit of Rs 206.62 crore, YoY. Revenue from operations fell to Rs 1,022.3 crore from Rs 1,773.04 crore, YoY.
8. JSW Energy: The company’s Executive Director and CFO Jyoti Kumar Agarwal has tendered his resignation.
9. Indian Energy Exchange: The company’s MD & CEO Rajiv Srivastava has resigned with immediate effect. Satyanarayan Goel, Non-Executive Chairman of the Board has been given an additional charge of Managing Director & CEO of the company, for an interim period with immediate effect.
10. NOCIL: The company’s consolidated net profit in Q1FY21 fell to Rs 11.95 crore from Rs 32.88 crore while revenue from operations declined to Rs 106.51 crore from Rs 229.59 crore, YoY.