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Global economy likely to expand 5.6% in 2021, China may rebound to 8.5%: World Bank
In its latest edition of Global Economic Prospects, the World Bank said that at the same time many emerging markets and developing economies continue to struggle with the COVID-19 pandemic and its aftermath
Stocks in news: Mphasis, Tata Motors, PowerGrid, Bank of Baroda and more
Stocks in news: Mphasis, Tata Motors, Power Grid, Adani Enterprises, Bank of Baroda and more
Stock Market Updates: Sensex opens marginally higher, Nifty hovers around 15,750
Sensex and Nifty were likely to open lower as Nifty futures on the Singapore Exchange fell 8.5 points to 15,755 today. On Tuesday, equity benchmarks ended marginally lower amid losses in HDFC twins, Reliance Industries and ICICI Bank. Sensex slipped 52.94 points to 52,275 and Nifty declined 11.55 points to 15,740.
Top Sensex losers were SBI, HDFC twins, Kotak Bank, PowerGrid and ICICI Bank falling up to 1%.
Here’s a look at stocks which are likely to remain in news today.
Bank of Baroda: Bank of Baroda will conduct an e-auction of as many as 46 NPA accounts later this month to recover dues of Rs 597.41 crore.
Adani Enterprises: The company said it has incorporated a wholly owned subsidiary firm for manufacturing wind turbine generators.
Religare Enterprises: Financial services player said it plans to raise Rs 570 crore via preferential issuance of shares to a clutch of investors, including existing shareholders, to fund its business plans.
Galaxy Surfactants: The speciality chemicals company reported a 25.3 per cent rise in consolidated profit after tax (PAT) to Rs 78.7 crore in Q4 against PAT of Rs 62.8 crore during the corresponding quarter of 2019-20.
Prestige Estates Projects: The realty firm reported a Rs 1,336.3 crore net profit for the quarter ending March, driven by monetisation of a large portfolio of commercial assets. Its net profit stood at Rs 15.4 crore in the year-ago period.
Max Financial Services: The healthcare services firm reported a multi-fold rise in consolidated net profit at Rs 70 crore in Q4 against net profit of Rs 6.7 crore in the same period a year ago.
Power Grid Corporation: The firm has fully commissioned India’s first Voltage Source Convertor (VSC) based HVDC (high voltage direct current) electricity transmission system, the power ministry said.
Tata Motors: The homegrown automaker said it has incorporated a new subsidiary to provide end-to-end services of operating, repair, annual maintenance contracts (AMC) and fleet management services (FMS) for its product range, including electric vehicles.
Mphasis: The Competition Commission has cleared the proposed acquisition of a stake in IT company Mphasis by BCP Topco, Waverly Pte and Platinum Owl. The proposed transaction pertains to the acquisition of up to 75 per cent shareholding in Mphasis.
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