Five largecap names that investors should keep an eye on today

Check out these largecap companies making headlines in today’s trading session.

Among the largecap companies, Tata Steel Ltd, HCL Technologies Ltd, Lupin Ltd, Reliance Industries Ltd, and Axis Bank Ltd, are among the stocks that are in the news on Monday. Let us see why!

Tata Steel Ltd: On 7 May, Tata Steel acquired 1,20,00,000 or 11.25% Optionally Convertible Redeemable Preference Shares (OCRPS) of TRF of the face value of Rs 10, aggregating to Rs 12 crore. The reason to acquire the OCRPS is to assist TRF in repayment/prepayment of the whole or a part of its existing indebtedness, payment of the vendors, to seek their support towards material supplies for completing legacy projects and delivering other committed orders and/or for other general corporate purposes. After this acquisition, Tata Steel will hold 1,20,00,000, 11.25% OCRPS that will represent 100% of the preference share capital of TRF. Today at 11:53 am, the scrip is trading at Rs 1266.25 , a decline of 1.41%.

HCL Technologies Ltd: HCL Technologies UK Limited, a wholly-owned subsidiary of HCL Technologies (HCL), has signed a definitive agreement for the acquisition of Confinale AG, a Switzerland-based digital banking and wealth management consulting specialist and Avaloq Premium Implementation Partner. Through this strategic acquisition, HCL will increase its footprint in the global wealth management market with emphasis on Avaloq consulting, implementation and management capabilities. Today at 11:53 am, the scrip is trading at Rs 1071.20 , a gain of 2 %.

Lupin Ltd: The company announced that it has received approval from the United States Food and Drug Administration (FDA) for its Abbreviated New Drug Application for two products: Iloperidone Tablets and Pregabalin Capsules. Today at 11:53 am, the scrip is trading at Rs 727 , a gain of 0.42 %.

Reliance Industries Ltd: On 6th May, RIL announced its results. On a consolidated basis, the quarterly results were that the company reported a rise of 20.18% in its net profit at Rs 18,021 crore as compared to Rs 14,995 crore for the same quarter in the previous year. Total income of the company increased by 35.55% to Rs 214,344 crore for Q4FY22 as compared to Rs 158,133 crore for the corresponding quarter of the previous year. On YoY basis, it reported a net profit of Rs 60,705 crore and a revenue of Rs 7.92 lakh crore (102 billion USD). Reliance is the first Indian conglomerate to cross the 100 USD revenue per year mark. Today at 11:53 am, the scrip is trading at Rs 2538.05, a decline of 3.17.

Axis Bank Ltd: On Friday, the fund managers, Viresh Joshi and Deepak Agarwal of Axis Mutual Fund, a subsidiary of Axis Bank, were replaced on allegations of front running. The stock of Axis Bank has plummeted since then. Today at 11:53 am, the scrip is trading at Rs 664.20, a decline of 1.34%.