Know which companies or stocks have made headlines today and what is the reason behind it-
Action is seen on the shares of the stock companies of the listed companies of the stock market or the decisions taken by the government. Some companies announce their decisions after market close and some companies make their decisions public during market hours. Sometimes such information about companies is also filtered from other sources, which has a favorable or unfavorable effect on their stocks. Keeping this in mind, we provide daily information about such stocks or companies in the form of Buzzing Stocks for the investors, which will be in the headlines or focus during the market today due to some reason.
Infosys: The company has joined Guidewire as a Consulting Alliance member. The American insurtech company has tied up with the Indian IT major for its Guidewire Partner Connect program at select levels for the US region. Members of Guidewire PartnerConnect Consulting provide advisory services that include business, transformation and strategy, implementation and related solutions and delivery services. Stocks have been under pressure for the past one month due to fall in tech stocks globally. In the last one month, it has seen a decline of about 12 percent.
InterGlobe Aviation: Rakesh Gangwal resigns from IndiGo board to reduce stake in 5 years. Rakesh Gangwal, co-founder of InterGlobe Aviation Ltd, has resigned as a non-executive, non-independent director of the company with immediate effect and will reduce his stake in the company in five years while co-promoter Rahul Bhatia will take control. Will hand over The stock has been volatile for the past one month and has gained only 2 per cent in this period.
Power Finance Corporation: LIC sold 2% stake in Power Finance. Life Insurance Corporation of India sold its 2.02 percent stake in the company through an open market transaction. With this sale, the stake of LIC has come down from 7.09 per cent to 5.06 per cent. The stock has been volatile for the past few sessions and has lost over 7 per cent in the past one month.
Kansai Nerolac Paints: The company has appointed Anuj Jain as MD. The company has appointed Anuj Jain for a term of five years whose appointment is subject to the approval of the shareholders. Changes took place at the board level after the retirement of HM Bharuka as the Vice Chairman and Managing Director of the company. The stock has been under pressure for the past few sessions and has lost nearly 20 per cent in the past one month.
Goa Carbon: The Goa unit of Goa Carbon resumed. The furnace was initially lit after heating and raw material feeding began. The stock has lost more than 6 percent in the last one week.
Phoenix Mills: The company will acquire 50% stake in Classic Mall Development Company for Rs 918 crore. Phoenix Mills Limited (PML) has announced to execute a non-binding term sheet to acquire the remaining 50 percent equity stake in Classic Mall Development Company Limited (CMDCL) from Crest Ventures Limited (CVL) and Escort Developers Private Limited for Rs 918 crore. is of. PML holds 50 per cent stake in CMDCL and the rest is owned by Crest Ventures (46.35 per cent) and Escorts Developers (3.65 per cent). With this purchase, CMDCL will become its subsidiary. The stock is up nearly 6 percent in the fifth session.
Johnson Pharmacare: Board approves issue of bonus shares. The company informed the exchanges that its board has approved 1:10 bonus shares, subject to shareholders' approval. It said the record date would be announced in due course. The bonus will be issued out of the share premium of the company available as on March 31, 2021. As on December 31, 2021, the share premium was Rs 9.4 crore. The stock has lost nearly 18 percent in the past week.
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