​Reliance Industries, Rossari Biotech, Tata Power and other stocks to watch out for on June 3​

Jun 3, 2021

By: Rounak Jain

Reliance Industries

It will complete the separation of its oil-to-chemicals business into a subsidiary by the end of 2021. Jio and Qualcomm have successfully tested 5G solutions, achieving 1Gbps speeds. It has also made a pre-payment of $7.8 billion long-term foreign currency debt.

Credit: BCCL

Rossari Biotech

It will acquire Unitop Chemicals, which supplies surfactants, emulsifiers and specialty chemicals, in a deal worth ₹421 crore.

Credit: Rossari-Biotech

Tata Power

Its subsidiary, Tata Power Solar, has received orders worth ₹686 crore to set up 210MWp of solar projects in Gujarat for the state-owned NTPC. Tata Solar Power now has a total order pipeline of 2.8GW, worth ₹13,000 crore.

Credit: Tata-Power

Earnings today

APL Apollo Tubes, Gujarat State Petronet, Arvind Fashions, Nucleus Software Exports, GTL Infrastructure, Quess Corp, Cupid.

Credit: Pixabay

Wipro

It has sold its 33.33 percent stake in Denim Group for $22.42 million (₹160 crore), after acquiring it for $8.83 million (₹63 crore) in 2018. It has partnered with Finastra to help banks in the Asia Pacific region to help manage their digital transformation.

Credit: Wipro

MTAR Technologies

It reported a 47 percent jump in its net profit in the March 2021 quarter to ₹46 crore, while revenue increased 15 percent to ₹246 crore, year-on-year.

Credit: MTAR-Technologies

Reliance Infrastructure

The company’s board will meet on June 6 to consider issuing equity shares for long-term fundraising.

Credit: Reliance-Infrastructure

Ruchi Soya

It has entered the ‘nutraceuticals’ and wellness segments, with plans to launch 10 products under the Patanjali and Nutrela brands.

Credit: Ruchi-Soya

Panacea Biotec

It reported a loss of ₹54 crore in the March 2021 quarter compared to a loss of ₹68 crore a year ago. Revenue surged by over 34 percent to ₹168 crore, year-on-year.

Credit: Panacea-Biotec

NHPC

Its board will meet to consider raising debt of up to ₹4,300 crore by way of bonds, term loans or external commercial borrowings.

Credit: NHPC

Mukesh Ambani-led Reliance Jio hikes prices of its plans by 21%