Stocks in news: Tata Motors, TCS, Avenue Supermarts, Dr Reddy's Labs and more

Indian market gained for the third consecutive session on Friday amid mixed global cues. Sensex gained 303.38 points to end at 54,481.84. During the day, it jumped 448.68 points to 54,627.14. Nifty rose 87.70 points to close at 16,220.60.

Larsen & Toubro, Power Grid, NTPC, ICICI Bank, Axis Bank, Dr Reddy's Lab, Nestle, Bharti Airtel, Infosys and Hindustan Unilever were the top Sensex gainers, rising up to 4.72 per cent.

Tata Steel, Maruti Suzuki India, IndusInd Bank, TCS and Asian Paints were among top Sensex losers, falling up to 1.62 per cent.

Share Market Live: Sensex, Nifty likely to open lower today

Here's a look at stocks that are likely to remain in news today.

TCS: IT services major Tata Consultancy Services (TCS) reported a 5.2 per cent year-on-year (YoY) increase in consolidated net profit for the quarter ending 30 June, 2022 at Rs 9,478 crore as India's top IT exporter won more contracts from companies looking to digitise operations.

Dr Reddy's Laboratories: The drug maker said it has launched its generic version of fesoterodine fumarate extended-release tablets used for treating overactive bladder in the US market. The launch follows the approval granted by the US Food and Drug Administration (USFDA).

Adani Group stocks: Billionaire Gautam Adani's group on Saturday confirmed its entry into the race to acquire telecom spectrum, which it said will be used to create a private network to support its businesses from airports to power as well as data centres.

"As India prepares to roll out the next generation of 5G services through this auction, we are one of the many applications participating in the open bidding process," the group said. PTI on Friday reported Adani group making a surprise entry which will pitch it directly against Mukesh Ambani's Reliance Jio and telecom czar Sunil Bharti Mittal's Airtel.

Avenue Supermarts: The operator of D-Mart reported over six-fold jump in its consolidated net profit to Rs 642.89 crore in Q1, helped by a "very good recovery" in overall sales and a comparative low YoY base. The company had posted a net profit of Rs 95.36 crore in the April-June quarter a year ago.

Tata Motors: The homegrown carmaker announced a price hike of its passenger vehicle range with immediate effect to partially offset the impact of rising input costs. The company, in a public statement, said, "A weighted average increase in price of 0.55% will come into effect starting today, across the range, depending upon the variant and model."

PNB: Punjab National Bank has signed a Memorandum of Understanding (MoU) with the Indian Air Force (IAF) to provide specially designed products to the defence personnel under its flagship scheme 'PNB Rakshak Plus'.

Bandhan Bank: The lender's advances grew by 20 per cent from a year ago to Rs 96,649 crore as of June 30. Total deposits of the private sector lender also grew by 20 per cent to Rs 93,057 crore by the end of Q1 FY23, Bandhan Bank said. The bank's CASA (Current Account Savings Account) rose by 21 per cent to Rs 40,195 crore. Retail deposits (including CASA) witnessed a rise of 15 per cent to Rs 73,780 crore. Bulk deposits were up 44 per cent year-on-year at Rs 19,278 crore.

Kotak Mahindra Bank: The lender has acquired the over Rs 600 crore-worth agri and healthcare equipment finance portfolio of Dutch lender DLL India for an undisclosed sum. The acquisition includes Rs 582 crore of outstanding loans classified as standard and Rs 69 crore of non-performing assets, according to a statement.

M&M: Mahindra & Mahindra could consider investing in a battery-cell company to meet future electrification needs, its CEO said, after the company raised funds for its new electric vehicle (EV) unit at a $9.1 billion valuation. Mahindra on Thursday raised $250 million from British International Investment for the unit and is exploring a partnership with Volkswagen AG to source such EV components as batteries and motors.

Aurobindo Pharma: The drug maker remains focused on developing complex and differentiated products in multiple areas comprising oncology, hormonal products, biosimilars, depot injections and vaccines to drive the next phase of growth, as per its Annual Report for 2021-22.

Zydus Lifesciences: The pharma and drug maker said it has launched the generic version of sitagliptin in India under the brand names Sitaglyn and Siglyn to address type 2 diabetes. Sitaglyn and Siglyn offer an oral solution to the patients providing ease of convenience and better compliance.

MMTC: The state-owned mining and metals firm logged a consolidated net profit of Rs 118.38 crore in Q4 against a loss of Rs 597.17 crore in the year-ago period. During the January-March quarter, its total income stood at Rs 2,260.81 crore compared to Rs 9,314.17 crore.