Stocks in news: Maruti Suzuki, NTPC, PB Fintech, Bank of India and more

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Indian equity markets fell on Friday, ending an eight-day rally, amid weak global markets and profit-booking at record levels. The Sensex closed at 62,868.50, down 415.69 points. During the day, it fell 604.56 points to 62,679.63. The Nifty closed at 18,696, down 116.40 points or 0.62 per cent.

Here is a look at the stocks that may be in the news today.

Maruti Suzuki India: The country’s largest carmaker will ‘substantially’ increase prices of its vehicles from January to offset the impact of rising costs and make provisions for updating the model range to meet stricter emission norms starting April 2023 .

Read also: Maruti Suzuki plans to increase car prices from January 2023, cites inflation

NTPC: The state-owned power giant is likely to find a strategic investor for its arm NTPC Green Energy by March 2023, which will help it raise up to Rs 3,000 crore to implement renewable projects in the country.

Power Grid Corporation of India: The state-owned power transmission major is in the process of carving out its telecom vertical for a new wholly owned subsidiary, POWERGRID Teleservices, to have a ‘focused approach’ and move up the value chain.

Pharma Stock: According to the USFDA, drug major Dr Reddy’s Labs and Sun Pharma are recalling various products in the US market for manufacturing issues. Dr Reddy’s Labs is recalling over 48,000 cartons of the medicine used to treat sneezing, runny or blocked nose. Sun Pharma is recalling 14,064 cartons of the drug for the treatment of erosive esophagitis.

Godrej Properties: The real estate firm has bought 18.6 acres of land in Mumbai’s Kandivali for around Rs 750 crore to develop a luxury housing project.

PB Fintech: SoftBank offloaded 2.28 crore shares or 5.1 per cent stake at an average price of Rs 456.4 apiece for PolicyBazaar’s parent’s Rs 1,042.52 crore through an open market transaction. Goldman Sachs, Societe Generale, Morgan Stanley and Max Life were among the buyers.

NMDC: The state-owned metal miner reported a rise of 3.61 million tonnes in iron ore production and 5.5 per cent increase in sales at 3.04 million tonnes in November compared to the same month last year. Iron ore production for the September-October-November 2022 period was the best ever for the firm.

Read also: Share Market News Live: Sensex, Nifty likely to open on the lines of Asian stocks; Maruti, SBI, Mahindra Finance in focus

Krishna Institute of Medical Sciences: A branch of US-based equity firm General Atlantic acquired 1.45 million shares or 1.8 per cent stake of the hospital chain through an open market transaction at an average price of Rs 1,480 per share for Rs 214.6 crore, according to wholesale deal data available with BSE. sold in ,

Amara Raja Battery: The battery firm will invest over Rs 9,500 crore over 10 years to set up a greenfield manufacturing facility in Telangana’s Mahbubnagar district for research and development and making lithium-ion batteries.

Bank of India: The state-run lender has raised Rs 1,500 crore by allotting Basel-III compliant Additional Tier-I bonds to seven investors. The bond issue, which opened on December 1, received a strong response from investors, receiving bids of Rs 6,367 crore against the offer size of Rs 1,500 crore.

ion exchange: The water treatment company has won a Rs 343.36 crore contract from Indian Oil Corporation, which includes designing, engineering, manufacturing, supply, construction, testing, pre-commissioning, commissioning, performance guarantee test runs and operation and maintenance for five years at Panipat Is. Refinery.

Inox Green Energy Services: The recently listed wind power operation and maintenance service provider reported a net loss of Rs 11.87 crore on a consolidated basis for the quarter ended September FY2023, as against a loss of Rs 11.58 crore in the previous quarter. Revenue from operations increased marginally to Rs 61.9 crore.

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