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Stocks in News Today

April 4, 2022

Infosys: The IT major is shifting its services from Russia to its other global delivery centres.

Dr Reddy’s Laboratories: The pharma major said it has inked a pact with Novartis AG to acquire the cardiovascular medicine brand Cidmus in India for $61 million (about Rs 463 crore).

ONGC, RIL: The state-owned Oil and Natural Gas Corporation (ONGC) is likely to see a$3 billion (about Rs 23,000 crore) rise in its annual earnings from the more than doubling of the price of natural gas it produces, while Reliance Industries may get USD 1.5 billion (Rs 11,500 crore) more in revenue, a report has said.

Indian Oil Corporation: The PSU oil major said it will invest nearly Rs 840 crore in expanding its Petroleum, Oil and Lubricant (POL) storage capacities, including setting up a greenfield facility, in the Northeast.

Maruti Suzuki India: The country’s largest carmaker aims to sell 4-6 lakh CNG units in the current fiscal year depending upon supply situation of essential components. The company sold about 2.3 lakh CNG units in 2021-22.

Asian paints will acquire 100 per cent of Obgenix Software, popularly known by the brand name of White Teak.

Power Grid Corporation of India: The state-owned power player has transferred its remaining 26 per cent stake shareholding in Powergrid Vizag Transmission to infrastructure investment trust PGlnvlT for a consideration of about Rs 330 crore.

HDFC: India’s leading mortgage lender said it has posted a 12 per cent growth in individual loans at Rs 8,367 crore for the fourth quarter ended March 31.

JSW Energy: An arm of JSW Neo Energy has inked a pact with the Chhattisgarh government for setting up a 1,000 MW capacity hydro pumped storage project due to rapid addition of renewable energy capacity, development of energy storage solutions.

SJVN: The government-owned power producer said it has clocked the highest ever electricity generation of 887.1 million units during the fourth quarter of 2021-22.