Stocks in Focus on Jan 10: RIL, TCS, Avenue Supermarts & More

By Malvika Gurung

Investing.com -- Reliance Industries Ltd (NS: RELI ): The conglomerate announced the acquisition of a 73.37% stake in Mandarin Oriental, a premium luxury hotel in midtown Manhattan, New York for $98.15 million, on Saturday.

Tata Steel (NS: TISC ): The steel-making giant’s consolidated steel output grew 2.2% to 7.68 million tonnes in Q3 FY22, while its consolidated sales dropped 3% to 6.88 MT in the quarter on a YoY basis. Besides, the steelmaker raised its stake in the JV Medica TS Hospital from 26% to 51%.

Tata Consultancy (NS: TCS ) Services: The IT major stated on Friday that it would consider a proposal to buy back equity shares from shareholders at its board meeting to be held on Jan 12. Besides, TCS won the order for the second phase of the Passport Seva Programme, it informed on Friday.

ICICI Bank (NS: ICBK ): Anup Bagchi’s reappointment as the Executive Director of the private bank has been approved by the RBI for 3 years.

Avenue Supermarts Ltd (NS: AVEU ): The net profit of the owner and operator of D-Mart increased 25% YoY to Rs 586 crore, and revenue by 22% in Q3 FY22.

Adani Enterprises (NS: ADEL ): Adani (NS: APSE ) Group has set up a new fully-owned subsidiary, Adani New Industries Ltd (ANIL) to take over its green hydrogen projects, low carbon electricity generation and wind turbine manufacture, solar modules and batteries business.

Tata Power (NS: TTPW ): The electric utility company has secured the highest ESG score among its peers in the Indian power segment, in S&P Global (NYSE: SPGI )'s recently released CSA results, stated PTI on Friday.