The Indian market is likely to open higher Wednesday following a rally in global markets as coronavirus vaccine hopes and fading uncertainty in the US politics boosted sentiment. At 8:00 am, the SGX Nifty was trading 58.50 points or 0.45 percent higher at 13,141.50, indicating a positive start for the Sensex and Nifty50.
Here are the top 10 buzzing stocks for today:
1. Muthoot Finance: The RBI has rejected Muthoot Finance’s proposal to acquire IDBI AMC.
2. Glenmark Pharmaceuticals: S&P Global Ratings has affirmed the company’s ‘BB-‘ ratings, off CreditWatch on easing refinancing risk; outlook Stable.
3. Mphasis: The IT firm said it has been awarded a US patent for its deep learning-based framework, Autocode.AI that automates software code development.
4. Max Financial Services: The company reported a profit of Rs 81 crore in Q2FY21 as compared to Rs 64.4 crore, and revenue increased to Rs 7,020 crore from Rs 4,686 crore YoY.
5. JSW Steel: The company has acquired balance 26.45 percent of the issued and paid-up share capital of JSW Vallabh Tinplate.
6. Union Bank of India: The state-run lender will raise up to Rs 1,000 crore from bonds to fund business growth.
7. TRF: The company has sought approval of the shareholders for sale of the entire stake held by subsidiary Dutch Lanka Trailer Manufacturers, in Tata International DLT, a 50:50 joint venture company of Tata International Limited and Dutch Lanka Trailer Manufacturers.
8. IRB Infrastructure Developers: Agra Etawah BOT Project implemented by AE Tollway (SPV) which is now part of IRB Infrastructure Trust – Private InvIT, has been issued a completion certificate by the competent authority. Consequently, toll rates for the SPV would be increased by 70 percent and the SPV will collect toll at revised toll rates on this project.
9. HFCL: Promoter MN Ventures Private Limited acquired 5 lakh equity shares of the company from the open market. The transaction has raised its holding to 22.48 percent from 22.44 percent.
10. Lasa Supergenerics: The company has received further injunction from the Bombay High Court, restraining its competitor from manufacturing albendazole in addition to other reliefs which is subject matter of patent infringement case.