Stocks in News: ITC, Vedanta, Campus Activewear, Maruti Suzuki, and More
Introduction
The stock market is always buzzing with activity, and today is no different. The benchmark indices have settled in the red after a two-day recovery amid negative global cues. Selling pressure was seen in blue-chip counters, and the fear gauge India VIX fell more than 2% to 14.49-level. In this article, we will take a closer look at the stocks in the news, including Campus Activewear, Vedanta, PNB Housing Finance, Sundaram Clayton, Glenmark Lifesciences, Emami, Anand Rathi Wealth, Aditya Birla Sun Life AMC, Rail Vikas Nigam, Bharat Electronics, Maruti Suzuki, and ITC.
Campus Activewear
American alternative asset management firm TPG Global plans to sell its entire 7.6% stake through block deals today. TPG will sell 2,32,07,692 shares of the company and has set the floor price at Rs 345 a share. This is at a discount of nearly 7% to the current market price.
Vedanta
The board of directors will meet on March 28 to consider and approve the 5th interim dividend for the current financial year.
PNB Housing Finance
The company's board of directors will meet on March 28 to consider fundraising through rights issue of shares.
Sundaram Clayton
The stock will trade ex-date for the bonus share issue of 1:116.
Glenmark Lifesciences
The stock will trade ex-date for the interim dividend of Rs 21 a share.
Emami
The board of the FMCG firm will meet today to consider buyback of shares. The stock has lost more than 14% year-to-date.
Anand Rathi Wealth
Anand Rathi Financial Services offloaded 0.8% stake or 3,30,000 shares of the company through a bulk deal on Thursday for Rs 26.7 crore.
Aditya Birla Sun Life AMC
The stock will trade ex-dividend for the Rs 5 per share interim dividend announced by the company.
Rail Vikas Nigam
The state-owned firm's joint venture Rachana-RVNL has won an order worth Rs 250 crore to upgrade a highway in Gujarat. The board will meet today to consider payment of interim dividend.
Bharat Electronics
The defence ministry has inked 2 contracts worth Rs 3,800 crore for the supply of medium power radar and digital radar warning receiver for the Indian Air Force.
Maruti Suzuki
The company will raise prices in April 2023 due to increased cost pressure which will be passed on through the price increase.
ITC
The diversified conglomerate is going for climate-risk modelling to identify the hotspots owing to extreme weather conditions, Chairman Sanjiv Puri said. Puri said that a team of experts is engaged in this job of modelling comprising big data analytics.
Conclusion
The stock market is always changing, and it's important to keep up with the latest news to make informed decisions. Today, we covered several companies that are in the news, including Campus Activewear, Vedanta, PNB Housing Finance, Sundaram Clayton, Glenmark Lifesciences, Emami, Anand Rathi Wealth, Aditya Birla Sun Life AMC, Rail Vikas Nigam, Bharat Electronics, Maruti Suzuki, and ITC. Keep an eye on these companies and the stock market as a whole to make the best investment decisions for your portfolio.
FAQs
1. What is climate-risk modelling?
2. Why is TPG Global selling its