Future Retail, Paytm, Hindustan Zinc and other stocks are in the news today

NEW DELHI – Stocks in India on Thursday marked their best session since April 4, buoyed by strong gains by conglomerate Reliance Industries and depressed information technology stocks, while automakers climbed to two-month highs. While indices for the month were still slightly lower on concerns over the Ukraine crisis, rising inflation and a flight in tech stocks after weak earnings from Tata Consultancy Services and Infosys, the NSE Nifty 50 index rose 1, 49% to 17,392.6, while the BSE Sensex rose 1.53% to 57,911.68.
Shares in news follow
Future Retail: Lenders have reportedly rejected the proposal to sell Kishore Biyani’s Future Group to Reliance Retail Ventures, citing “uncertainty about the entire offering” after the electronic vote was conducted on Thursday.
3i Infotech: The IT major signed a Rs 12 crore deal with a leading insurance company in India. The contract is for three years and the process will be run from their new center in Hyderabad.
Q4 earnings today
Hindustan Zinc, Sundaram Fasteners, MMTC, Tejas Networks, Tata Metaliks, Khaitan Chemical & Fertilizers, Wendt India, Aditya Birla Money and Quest Capital Markets will announce their quarterly results for March today.
One97 Communications: Paytm’s parent company released a ownership update showing that the Canada Pension Plan Investment Board (CPPIB) increased its stake in Paytm to 1.71 percent from 1.57 percent in the quarter ended March 2022.
TVS Motor Company: The two-wheeler company has invested Rs 995 crore in Norton Motorcycles, Britain’s best-known sporting motorcycle brand, which it acquired in April 2020.
ITC: The company will acquire a 10.07 per cent stake in Blupin Technologies, the company behind direct-to-consumer (D2C) brand Mylo, for up to Rs.39.34 billion.
L&T Technology Services: The technology major reported a 35% increase in its net profit to Rs 262 crore for the quarter ended March 2022. The company had posted net profit of Rs 194.5 crore for the same period a year ago .
Apollo Tyres: It has opened its Digital Innovation Hub in London and has partnered with Glasgow University to work in areas such as artificial intelligence, machine learning and data mapping to improve manufacturing efficiency, quality and sustainability.
KBC Global: Singapore fund Maybank Kim Eng Securities has acquired 35 lakh shares of KBC Global for Rs. 9.99 per share in a bulk deal, data with NSE showed.
With contributions from agencies

Cheryl Tenny

"Thinker. Food advocate. Incurable coffee enthusiast. Communicator. Proud student. Zombie buff. Tv fanatic. Extreme troublemaker."

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