Top 10 stocks for today

18 Aug 2022 , 09:53 AM

The Singapore Exchange’s Nifty futures traded 19 points, or 0.11%, down at 17,949 to indicate that the stock markets will begin the day on a down note. Foreign investors gained confidence due to falling commodity and oil prices, while western markets struggled prior to the release of the minutes from the US Federal Reserve Open Market Committee meeting.

Here are the top 10 stocks with major news in them that can influence the market:

1. Mahindra & Mahindra:

According to news reports, Mahindra & Mahindra has started discussions with several Indian state governments to establish the manufacturing infrastructure for its forthcoming line of electric sports utility vehicles. The manufacturer will consider incentives provided by various state governments before finalizing the strategy for the production of these EVs.

1. ONGC:

Focus will be on ONGC because it just inked a Heads of Agreement (HoA) for deepwater drilling on India’s east and west coastlines with the multinational oil giant ExxonMobil. The Krishna Godavari and Cauvery Basins in the eastern offshore and the Kutch-Mumbai region in the western offshore are the main areas of partnership.

1. Wipro:

For mid-level and senior staff, Wipro reportedly withholds the quarterly variable compensation from April to June. According to Wipro, the wage increases and increments have not changed and will take effect in September. Concerns about a potential US recession led to Wipro’s decision to halt variable pay and safeguard margins. The tech company reported finishing its first cycle of quarterly promotions.

1. Indo Amines:

At its manufacturing facilities in Thane and Dhule, Maharashtra, the company has secured environmental permission for increasing its “synthetic organic chemical” production.

1. GAIL:

The board of directors gave the business approval to raise an extra $3.125 billion through commercial borrowing from outside sources and up to Rs25,000 crore through non-convertible debentures. In addition to that, the corporation has already borrowed Rs25,000 crore.

1. Natco Pharma:

The business said in a BSE filing that its abbreviated new drug application (ANDA) for Trabectedin for injection in the 1mg/vial has got provisional clearance. A generic version of Yondelis is trabectedin. Industry sales figures show that Yondelis made $49.7 million in yearly sales in the US market for the 12 months ended June 2022.

1. Bank of Baroda:

BoB announced on Wednesday that it has raised Rs1,000 crore by selling bonds to fund infrastructure and affordable housing initiatives. According to a regulatory filing, the bonds will have a seven-year maturity and a coupon rate of 7.39%.
 

1. Adani Green Energy:

Energy and Power Minister Kanchana Wijesekara stated on Wednesday that Sri Lanka has given Adani Green Energy preliminary approval for two wind projects totaling 286 MW and 234 MW with an investment of more than USD 500 million in the country’s Northern district. 

1. Reliance:

In June, the country’s telecom subscriber base increased slightly to 117.29 crore, with Reliance Jio adding the most number of new subscribers, according to figures made public by industry regulator Trai on Wednesday. In May 2022, there were 117.07 crore subscribers. Reliance Jio added 42.23 lakh net new consumers, bringing the total number of cellular subscribers to 41.3 crore.

1. RBL Bank:

RBL Bank announced on Wednesday that it has sold more than 12% of its ownership in Kilburn Engineering since May for a total of more than Rs17 crore. This comprised 19.67% of the company’s share capital and was converted from loans made as part of RBL Bank’s debt restructuring plan in February 2021. It was also subject to a one-year lock-in period.