Stocks in news: Tata Motors, PNB, HCL Tech, InterGlobe Aviation and more – Business Today

The Indian market is likely to open higher today as SGX Nifty fell rose 106 points to 17,055. Sensex has gained 18.84% since the beginning of this year and risen 25.88% in one year. However, the ongoing correction and volatility in Indian equities has turned benchmark indices negative on a monthly basis. While Sensex has lost 5.53% or 3,320 points, Nifty is down 5.61% or 1,004 points in the last one month.

On Monday, benchmark indices ended the session on a negative note amid a rise in the number of positive cases of Omicron variant to 21 in India. Sensex ended 949 points lower at 56,747 and Nifty closed 284 points lower at 16,912. HDFC, HDFC Bank, Bajaj Auto and Tata  Steel were among the top Sensex losers, falling up to 0.40%.

Here’s a look at stocks that are likely to remain in news today.

PNB: Public sector lender Punjab National Bank (PNB) plans to raise up to Rs 2,000 crore through additional tier I (AT 1) bonds on Tuesday.

Muthoot Finance: Muthoot Microfin, an arm of Muthoot Pappachan Group, has received about Rs 375 crore as equity capital from institutional investor Greater Pacific Capital to back its business growth plans.

Godrej Properties: The realty firm has formed a joint venture (JV) with TDI group to develop an ultra-luxury residential project in Connaught Place (CP), one of the most premium locations within the central business district of New Delhi.

InterGlobe Aviation: Promoters of IndiGo have called for an extraordinary general meeting (EGM) on December 30 to remove a clause in the company’s articles of association (AoA), which gives them the right of first refusal (RoFR) over acquisition of each other’s shares. A removal of the clause will allow either side to sell or transfer shares to a third entity without giving notice to each other.

HCL Technologies: The IT company plans to create 12,000 new jobs in the United States, in the next five years. The company said it expects to recruit over 2,000 graduates over the next 36 months as part of its US early career and training programme.

Tata Motors: The homegrown auto major said it will raise prices of its commercial vehicles in the range of 2.5 per cent from January 1 to offset the hike in commodity and raw materials costs.

ITC: The group’s hotels and industry body CII announced a tie-up for skill development in Indian hospitality sector in collaboration with a swiss training partner.

DLF: The realty major said its rental arm DCCDL has received US Green Building Council’s LEED zero water certification for water conservation in its commercial buildings at Gurugram, Haryana. DLF Cyber City Developers (DCCDL), which is a joint venture between DLF and investment firm GIC.

Ashok Leyland: The commercial vehicles firm has joined hands with public sector lender Bank of Baroda for financing of vehicles. The company said it has signed a Memorandum of Understanding (MoU) with Bank of Baroda to ink a strategic financing partnership for a period of three years.

Rain Industries: Pabrai Investment Funds has purchased 2.05 per cent stake in the company via open market transactions, raising shareholding to 8 per cent from 5.95 per cent earlier.

Ujjivan Small Finance Bank: The small finance lender has appointed Ittira Davis as its managing director and chief executive officer for three years.  

HFCL: The telecom gear maker has launched qualified institutional placement issue on December 6 and approved floor price at Rs 72.33 per share.

IL&FS Transportation Networks: The company engaged in construction of roads and highways said it has inked a share purchase agreement with Axis Trustee Services for sale of equity shares held in Moradabad Bareilly Expressway for the initial consideration of Rs 373.58 crore.

Suryalakshmi Cotton Mills: Credit rating agency ICRA has raised the company’s long-term rating to ‘BBB-‘ from ‘BB+’ and also upgraded the short-term rating to ‘A3’ from ‘A4+’. The ratings have been removed from ‘rating watch with negative implications’ and stable outlook assigned on the long-term rating and short-term credit rating.