Stocks to watch: RIL, L&T Tech, ICICI Bank, Axis Bank, Lupin, Ashok Leyland

Stocks to watch today: A positive open is likely for the Indian equity markets on Tuesday amid mixed global cues. At 7:40 am, the SGX Nifty Futures quoted 17,422 levels, up 110 odd-points.

Globally, rate hike fears continue to shroud the US markets on Monday. Dow Jones slipped 0.5 per cent, while the S&P 500 and NASDAQ Composite declined 0.6 per cent and 1 per cent, respectively.

Asia-Pacific markets were mixed on Tuesday morning as Kospi, Nikkei 225, S&P 200 rose up to 0.8 per cent. Hong Kong’s Hang Seng index, however, declined over 1 per cent.

Meanwhile, back home, here is a list of stocks that may see some action in trade on Tuesday:

Reliance Industries: In its 45th Annual General Meeting, the conglomerate made a slew of announcements. Few takeaways were the launch of Jio 5G services in India in the next 2 months, launch of JioAirFiber- “fibre-like data” speeds over the air without any wires, Jio’s launch of JioMart on WhatsApp in partnership with Meta, Reliance Retail’s plan to launch FMCG business this year, among many others. READ MORE

ICICI Bank, Axis Bank: Private sector lenders ICICI Bank, Axis Bank, and IDFC First Bank have increased interest rates on deposits worth Rs 2 crore and above. While ICICI Bank is offering peak rate of 6.05 per cent on deposits ranging from 1 year to 5 years on deposits of Rs 2 crore to less than Rs 5 crore, Axis Bank and IDFC First Bank are offering 6.5 per cent and 7 per cent, respectively. READ MORE

Bharat Petroleum: The oil-refining firm plans to scale up renewable energy portfolio to 10 gigawatt (GW) by 2040 – the year it is targeting net-zero carbon emission. That apart, the company is planning to diversify and expand into adjacent and alternate businesses to provide additional revenue streams and protect against any drop in oil and gas business. READ MORE

L&T Technology Services: The engineering services company won a five-year multi-million-dollar deal from European luxury automaker BMW Group to provide high-end engineering services for its suite of infotainment consoles targeted for its family of hybrid vehicles.

The company will provide services in the areas of software build and integration, infotainment validation and defect management. READ MORE

Grasim Industries: Chairman Kumar Mangalam Birla said that the company would invest Rs 3,117 crore on its existing businesses in FY23. The investment would be towards capacity creation and modernisation of plants. The board has approved total capex of Rs 10,000 crore for paints business, out of which Rs 605 crore was spent in FY22. Additionally, the company has earmarked Rs 2,000 crore for the B2B e-commerce business. READ MORE

Lupin: The pharma major received tentative approval from the USFDA to market Dasatinib tablets, used to treat certain types of cancer in the US. In partnership with Pharmascience Inc, the company received nod for Dasatinib tablets in strengths of up to 140 mg.

Aurobindo Pharma: The company’s subsidiary plant received one observation following inspection of the US health regulator. As per USFDA, Form 483 was issued to the firm post inspection of Raleigh-based plant, which contains violation of the Food Drug and Cosmetic (FD&C) Act and related Acts.

Ashok Leyland: India’s leading commercial vehicle manufacturer is set to come out with its electric light commercial vehicle (eLCV) within six months. The company launched Bada Dost Edition with industry first features in a commercial vehicle. In the Bada Dost range, Bada Dost i1 and i2 offer a payload of 1,250 kg and 1,425 kg, respectively.

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