Stocks in news today: RIL, ABG Shipyard and more

The domestic markets witnessed a narrow trading session on Friday, weighed down by sentiment ahead of IIP and retail inflation data to be released by the government later in the day.

Nifty opened at 7,959, made an intra-day high and low of 7,995 and 7,940, respectively and finally closed at 7,982 up around 17 points. The BSE Sensex gained 54.32 points to 26,425.30. The Nifty volatility index, India VIX, stood at 17.4775 down around 1.83 per cent.

According to market experts, the oversold market conditions provided some sort of buying interest.

Below are the stocks that made news today:

Mastek: Shares of the software solution company nosedived around 66 per cent on intense selling, as the stock price adjusted for demerger of its insurance business. The stock tumbled 65.97 per cent to Rs 149 on the BSE.

ABG Shipyard: ABG Shipyard shares jumped over 8 per cent on reports that the company is in discussion with Germany-based Privinvest Holding to sell a majority stake. Privinvest Holding has shipbuilding operations across the world. It is expected to buy up to 49 per cent stake in the company. Share price of the company closed at Rs 180.90, up 8.16 per cent against its previous close.

PVR: The film exhibition firm says it will raise Rs 350 crore from private equity firm Multiple Alternate Asset Management, which will pick up 10.7 per cent stake in the company. The share price of the company gained 0.12 per cent to Rs 650 on Friday.

Reliance Industries: Shares rose 1.36 per cent to Rs 889.15 after the company announced its plans to invest over Rs 2 lakh crore over the next one year to enhance the group's petrochemical infrastructure and build a brand new telecom business, among other projects.

Surana Solar : Shares continued to trade under pressure, falling further by 10 per cent, on reports that a namesake of ace investor Rakesh Jhunjhunwala had bought shares worth Rs 2.56 lakh in the company from the open market. The scrip has now declined 39.21 per cent in three trading sessions - from Rs 53.05 on June 9 to Rs 32.25 on June 12.

Novartis India: Shares of the drug major slid over 4 per cent on reports that parent company, Novartis AG, may delist its shares from the Bombay Stock Exchange. However, the drug maker says it is not aware of any such plan. Shares closed at Rs 802.75, down 4.27 per cent against its previous close.