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    Stocks in the news: RIL, Wipro, JSW Steel, Tata Power and Max Healthcare

    Synopsis

    The government hiked the windfall profit tax on the export of diesel to Rs 7 per litre and brought back a tax on jet fuel exports, but slashed the levy on domestically produced crude oil in line with softening rates.

    People walk past the Bombay Stock Exchange (BSE) building in MumbaiReuters
    Stocks in buzz: Inox Leisure, Tata Power, JK Tyre, GMDC, Stride Pharma, Greenpanel Industries, Metropolis and more
    Nifty futures on the Singapore Exchange traded 45.5 points, or 0.25 per cent lower at 17,958.5, signaling that Dalal Street was headed for a negative start on Friday. Here are a dozen stocks which may buzz the most in today's trade:

    Oil refineries and producers: The government hiked the windfall profit tax on the export of diesel to Rs 7 per litre and brought back a tax on jet fuel exports, but slashed the levy on domestically produced crude oil in line with softening rates.

    Wipro: The IT major has received a multi-year contract to deliver Service integration and management (SIAM) services to HM Treasury (HMT). Wipro and HMT will collaborate to enable end-to-end SIAM services, from strategy, design, and implementation to running business-as-usual services.

    JSW Steel, JSW Ispat: Fair trade regulator Competition Commission of India (CCI) approved the proposal to merge Creixent Special Steels and JSW Ispat into JSW Steel. In May, JSW Steel announced the merger deal.

    Max Healthcare Institute: HDFC Asset Management Company (AMC) bought 0.4 per cent equity stake in the company via open market transactions on August 16. With this, its shareholding in the company stands increased to 5.18 per cent, up from 4.78 per cent earlier.

    Multiplex stocks: Non-profit group The Consumer Unity & Trust Society (CUTS) has filed a complaint against the proposed merger agreement between multiplex operators PVR and INOX Leisure, alleging that the deal will have anti-competitive effects on the film exhibition industry. CUTS has approached the CCI to investigate the matter.

    Tata Power: The Tata Group's utility arm Tata Power Renewable Energy said it raised around Rs 2,000 crore by issuing 8.36 crore equity shares to BlackRock-backed GreenForest New Energies Bidco.

    JK Tyre & Industries:
    Optimistic about demand growth in the current fiscal, the leading tyre maker said it has increased price by 6-7 per cent and a further hike is under consideration to reduce the raw material cost pressure. It said EBITA has started improving and it is likely to be better in the forthcoming quarters.

    Gujarat Mineral Development Corporation: The state-owned mineral firm said it is augmenting lignite output by further 1.5 million tonnes this year. The development assumes significance as the PSU is targetting to build up its lignite production in a bid to support MSMEs eyeing for cheaper fuel.

    Embassy Office Parks REIT:
    American Balanced Fund offloaded 2,92,62,468 shares of the real estate investment trust at an average price of Rs 357.61 apiece for Rs 1,046.45 crore through an open market transaction, according to the bulk deal data available with BSE. ICICI Prudential Mutual Fund picked up the shares of the company.

    Strides Pharma Science:
    The drug maker said its wholly-owned arm, Strides Pharma Global, has received approval from the US health regulator for generic naproxen sodium softgel capsules, used to treat pain or inflammation. The approval by the US Food & Drug Administration (USFDA) is for naproxen sodium softgel capsules of 220 mg strength.

    Greenpanel Industries: Rating agency ICRA has upgraded the long term ratings of the plywood boards and laminates firm to A+ (stable) and short term ratings to A1+, from A and A1, respectively.

    Metropolis Healthcare:
    Vijender Singh has resigned as the Chief Executive Officer of the company. The company has agreed to release him from the position of CEO from the closing of business hours of August 17.

    Integra Essentia: The diversified firm announced to receive orders for more than Rs 110 million for supplying premium dry fruits, supply for these orders shall be completed in next couple of fortnights.

    Talbros Engineering: The auto components equipment maker has commenced construction on land acquired admeasuring 2.2 acre in Faridabad for setting up of new production unit.

    SecMark Consultancy:
    The microcap software and consulting firm said the meeting of board of directors is scheduled to be held on August 23 to consider issue of bonus shares to the equity shareholders. The board will also approve the proposal of migration of company from SME platform of BSE to Main Board of BSE andmain Board of NSE.



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    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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