Biz Story: company wrap

Here are the top 5 companies you need to know about today

ONGC remained the stock of choice on Dalal Street in Tuesday’s trade as rising oil prices pushed the PSU stock to fresh 52 week high. ONGC stock is up over 64% in the last 4 months 

Aditya Birla’s Flagship metal company Hindalco in the spotlight as the company announced targets to lower its debt aggressively by nearly $3 billion over the next 5 years. Hindalco while detailing their capital allocation plans says they intend to spend 50% on growth Capex, 30% on deleveraging and 8%-10% on dividends

Mukesh Ambani led Reliance Industries detailed to investors the much awaited hive off the oil-to-chemicals business. RIL reiterated that they will retain management control on the new entity . Analysts believe this paves the way for a stake sale to Aramco in the business. 

Tata Motors was rewarded by the stock market as the management sounded optimistic at the annual investor day with a medium term guidance of better profitability while targeting near zero debt by 2024

Bharti Airtel partners has connected with US chipmaker Qualcomm for 5G services in India. Airtel has debuted the 5G network commercially in Hyderabad already.