Market

Tata Steel, Adani Group, Axis Bank, Bharti Airtel and more

Sensex and Nifty managed to close higher in volatile trading session on April 6. Sensex closed 42 points higher at 49,201 and Nifty gained 45 points to 14,683. On year-to-date basis, Sensex has gained 3.04% or 1,450 points and Nifty has risen 5.02% or 701 points.

Top gainers were Asian Paints, Sun Pharma, Dr Reddy’s Laboratories, HUL shares . Top Sensex losers were PowerGrid, Ultratech Cement, Axis Bank, and IndusInd Bank falling up to 2%.

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

Tata Steel: The firm reached Rs 1 trillion in market capitalisation on Tuesday, with the stock hitting a record high of   Rs 882.30 in early trade. S&P Global Ratings has upgraded its long-term rating to BB- from B+ and maintained the outlook stable.

Adani Group: The group has become country’s third conglomerate to surpass $100 billion market market for the first time. Total market cap of five listed Adani group companies stood at over $104 billion, according to BSE Data.

Mahindra Logistics: Flipkart has joined hands with Mahindra Logistics Limited to help fast track deployment of electric vehicles across its logistics fleet in the country.

Axis Bank: The private sector lender has become co-promoter of Max Life Insurance Company Limited, after completion of the acquisition of 12.99% stake collectively by the Axis Entities in the company, the bank said in a regulatory filing.

Bharti Airtel, RIL: The telco has agreed to transfer to Reliance Jio Infocomm Ltd the right to use its spectrum in the 800MHz band for  Rs 1,037.6 crore, according to statements by the two companies.

Panacea Biotech: Panacea Biotec share rose 20% after the drug maker said it has inked pact with Russian Direct Investment Fund (RDIF) to produce 100 million doses per year of the Sputnik V COVID-19 vaccine in India. Share of the pharma firm rose 19.99% to Rs 220.85 against previous close of Rs 184.40 on BSE.

JSW Energy: Brickwork Ratings India Private Limited (BWR) has reaffirmed long- term rating of ‘BWR AA- (Positive)’ on the proposed Non-Convertible Debenture issue and short-term rating of ‘BWR A1+’ on the commercial papers of the company.

IDFC First Bank: The bank closed qualified investment placement of shares of face value of  Rs 10 each. The board also approved the issue price of  Rs 57.35 per Share (including a premium of Rs 47.35 per equity share).



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