Wednesday, May 18, 2022
HomeBusinessHCL Tech, Nestle India, Tata Steel and other stocks in news today

HCL Tech, Nestle India, Tata Steel and other stocks in news today

NEW DELHI: India’s stock market rebounded by over 1 percent on Wednesday after declining for five straight days on positive global cues, but experts still think volatility will continue. The benchmark Sensex rose 1.05 percent to 57,037.5 points while the 50-share Nifty rose 1.02 percent to 17,136.55 points, respectively.
Meanwhile, India’s general government fiscal deficit has been projected at 9.9 per cent of GDP for FY23 as rising energy and food prices will put renewed pressure on the fiscal gap, said the International Monetary Fund (IMF) in its report.
Following are the stocks in news today:
Results today: HCL Technologies, Nestle India, ICICI Lombard General Insurance Company, Tata Communications, Crisil, Cyient, Rallis India, Rajratan Global Wire, Sasken Technologies and Shiva Cement are the companies that will announce their quarterly results today.
Tata Steel: The steel major said it will stop doing business with Russia amid the ongoing conflict with Ukraine. All of Tata Steel‘s manufacturing sites in India, the UK and the Netherlands have sourced alternative supplies of raw materials to end its dependence on Russia, the company said.
Meanwhile, other Tata Group companies have begun cutting exposure to global markets by exiting subscale businesses to reinvest capital and intensify their local focus.
Future Retail: The debt-ridden firm held a meeting of its shareholders to consider and approve the sale of the company’s retail assets to billionaire Mukesh Ambani‘s Reliance Retail Ventures.
Infosys: The IT major has completed acquisition of Germany-based digital experience and marketing agency, oddity
Ambalal Sarabhai Enterprises: CoSara Diagnostics has got permission from Central Drugs Standard Control Organisation to manufacture and sell its SARAQ Hepatitis C (HCV) viral load kit as an in vitro diagnostic (IVD). CoSara is a joint venture of a subsidiary of Ambalal Sarabhai Enterprises, and Co-Diagnostics, Inc, USA.
Atul Auto: The company has inked a pact with Valeo and Honda Power Pack Energy India for electric vehicles with battery swapping solution.
Inox Wind: The wind energy firm’s board has approved a proposal to raise Rs 402.5 crore through preferential issue of equity shares and convertible warrants.

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