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RIL, Vedanta, L&T and other stocks in news today

Trends in the SGX Nifty indicate a negative opening for the broader Indian markets. The BSE sensex gained 126 points to close at 61,294, while the Nifty50 rose 35 points to 18,232. Asia-Pacific shares traded mixed as investors look ahead to the Federal Reserve’s meeting minutes for December.
Wall Street’s main indices closed lower on the first trading day of 2023 with the biggest drags from Tesla and Apple, while investors worried about the Federal Reserve’s interest-rate hiking path as they awaited minutes from its December meeting.
The Dow Jones Industrial Average fell 10.88 points, or 0.03 percent, to 33,136.37; the S&P 500 lost 15.36 points, or 0.40 percent, to 3,824.14; and the Nasdaq Composite dropped 79.50 points, or 0.76 percent, to 10,386.99.
Stocks in news
Reliance Industries: Reliance Consumer Products Limited, the FMCG arm of Reliance Retail Ventures Ltd, will acquire 50% stake in Gujarat-headquartered Sosyo Hajoori Beverages Private Limited (SHBPL), which owns and operates beverage business under the flagship brand ‘Sosyo’.
Vedanta: Alumina production at Lanjigarh refinery decreased by 6% YoY and 2% QoQ in Q3 to 443,000 tn due to maintenance activities in calciners. Mined metal production at 254,000 tn, was up 1% YoY, driven by higher ore production. Overall production of zinc in international business increased by 32%YoY, with continued ramp-up at Gamsberg.
Punjab National Bank: The bank has increased the interest rate of fixed deposits across various tenures by 50 basis points in a bid to attract deposits. Interest rates on term deposits below Rs 2 crore between 1 year and 3 years have been raised by 50 basis points to 6.75%.
InterGlobe Aviation/SpiceJet: The domestic air passenger traffic for the airline sector touched 1.29 crore to cross the pre-Covid level in December.
State Bank of India: The lender has approved raising another Rs 10,000 crore through infrastructure bonds this quarter to fund credit growth, The executive committee of the bank’s central board, at a meeting approved the fundraise through a public issue or private placement during this financial year.
Radiant Cash Management IPO listing date has been fixed for today. Shares of Radiant Cash Management Services Limited shall be listed and admitted to dealings on the exchange in the list of ‘B’ group of securities.
L&T: Engineering and construction major Larsen & Toubro said its water and effluent treatment business has bagged repeat orders from the Government of Madhya Pradesh. The order is to execute two lift irrigation projects to irrigate 2,05,000 Ha of culturable command area covering more than five hundred villages of Dewas and Dhar districts in the state of Madhya Pradesh on a turnkey basis.
Avenue Supermarts: Radhakishan Damani-owned Avenue Supermarts, which runs the DMart chain, reported revenue from operations rose by 24.7 per cent to Rs 11,304.58 for the October-December quarter. The revenue from operations stood at Rs 9,065.02 in the corresponding quarter last fiscal.

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