Market today started on a positive note with the Sensex trading 378.10 points higher and the Nifty going up 106.40 points at 9.35 am. It is expected to perform well in view of the ongoing festival season. Those who want to buy stocks on Wednesday should look for these companies before making an investment.
Motherson Sumi: The company is set to acquire Bombardier’s electrical wiring interconnection business in Mexico. The transaction is valued at around 10 million dollars and it is expected to complete in the fourth quarter of FY21.
Indian Oil Corporation: It has caught attention after starting four hydrogen-CNG plants in Delhi. These plants have a capacity of four tones per day. Indian Oil Corporation will be experimenting on Delhi’s buses to check the output of the new fuel. The company has also raised Rs 2,000 crore through Non-Convertible Debentures.
Larsen & Toubro Infotech: The board of the company has given its nod for the merger of Syncordis Software Services and Ruletronics Systems with the company.
Equitas Small Finance Bank: Its initial public offering opened for subscription on Tuesday. Its overall subscription stood at 0.39 times on the first day. The bank has fixed a price band of Rs 32 -33 per share for the IPO.
Prabhat Dairy: It received a setback on Tuesday with the Securities and Exchange Board of India directing it to pay Rs 1,292 crore to an escrow account in Lactalis deal. The regulator also pulled up Prabhat Dairy for not cooperating with the forensic auditor appointed by it.
Hindustan Zinc: It has announced an interim dividend of Rs 21.3 per share which amounts to 9,000 crore.
Cipla: It has come up with generic Nintedanib capsules which will be used in the treatment of rare lung diseases.
These companies will declare their quarterly or half-yearly results: Bajaj Finance, Chennai Petroleum Corporation, Colgate Palmolive, DB Corp, GMM Pfaudler, Harita Seat Sharing, Indo Thai Securities, Indo Count Industries, JK Tyre, KPIT Technologies, Newgen Software Tech, Rane (Madras), Rajratan Global Wire, Sagar Cements, Sasken Technologies, Shanthi Gears, SE Power, Syngene International, Tejas Network, UltraTech Cement, VST Industries, Arihant Superinfrastructures, Agro Tech Foods and Bajaj Finserv.