The Indian stock market is likely to open in the green on Thursday amid strong global cues. At 7:10 am, the SGX Nifty was trading 84.50 points or 0.54 percent higher at 15,714.50, indicating a positive start for the broader index in India, cnbcntv18.com reported.
Top stock to look for the day:
Persistent Systems: The company will expand its relationship with IT giant IBM to help fuel open hybrid cloud adoption, core IT modernization and digital transformation for customers across the enterprise.
Wipro: The IT major has sold its entire stake of 33.33 percent in Denim Group for a consideration of USD 22.42 million (approx. Rs 160 crore). The company has also partnered with Finastra to help corporate banks across Asia-Pacific accelerate their digital transformation.
Tata Power Company: Its subsidiary Tata Power Solar received Engineering, procurement and construction (EPC) orders worth Rs 686 crore from NTPC to set up solar PV projects.
Reliance Infrastructure: According to the company’s latest annual report, made pre-payment of $7.8 billion of long-term foreign currency debt, with requisite approvals from the RBI. Reliance’s board will meet on Sunday, June 6 to consider its long-term fund-raising through the issue of equity shares.
Panacea Biotec: The company reported consolidated loss at Rs 54.14 crore in Q4FY21 against Rs 68.39 crore in the corresponding period last year. Revenue increased to Rs 168.27 crore from Rs 125.36 crore, YoY.
Rossari Biotech: The company will acquire Unitop Chemicals for Rs 421 crore, which is a leading supplier of emulsifiers, surfactants, and specialty chemicals.
MTAR Technologies: The company’s net profit in FY21 increased to Rs 46.1 crore from Rs 31.3 crore in FY20. While revenue rose to Rs 246.40 crore from Rs 213.80 crore in FY20.
Solar Industries India: FMR LLC and Fidelity International acquired 39,465 equity shares in the company through open market transactions on May 31. The latest round of purchase raised its stake to 5.02 percent from 4.98 percent earlier.
Ruchi Soya Industries: The company has ventured into the nutraceuticals and wellness segment. They will initially launch close to 10 products under the brand ‘Patanjali’ and ‘Nutrela’.
List of companies which are going to declare their quarterly results: Arvind Fashions, APL Apollo Tubes, Cupid, GTL Infrastructure, Gujarat State Petronet, HEM Holdings, Nucleus Software Exports, Som Distilleries & Breweries, and Quess Corp among others will release their quarterly results on June 3.
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