Blue-Chip Stocks in Focus: RIL, Tata Steel, Bajaj Auto & More

By Malvika Gurung

Investing.com -- Reliance Industries (NS: RELI ): The telecom-to-retail conglomerate’s electric commercial vehicle maker Altigreen inaugurated its EV service centre in Pune, in collaboration with Vidyut Parivahan.

Bajaj Auto (NS: BAJA ): The auto giant has approved a share buyback worth Rs 2,500 crore, aiming to buy back 54.35 lakh shares aggregating up to 1.88%, priced at Rs 4,600 apiece through the open market.

Tata Steel (NS: TISC ): Rating agency Moody’s has revised the outlook on the steelmaker from ‘stable’ to ‘positive’ and expects it to reduce debt by $1 billion (at least) by the end of FY23.

ICICI Bank (NS: ICBK ): S&P Global (NYSE: SPGI ) Ratings expects the private lender to maintain its strong market position and capitalisation over the next year and a half, holding its long-term issuer credit rating of BBB- on the lender with a stable outlook.

JSW Steel (NS: JSTL ): Moody’s has revised the outlook on the steelmaker from positive to stable, and upgraded its corporate family rating from Ba2 to Ba1.

Cipla (NS: CIPL ): The pharmaceutical company will acquire an additional stake of nearly Rs 26 crore in digital tech company GoApptiv Private, raising its shareholding to 22.02%.