Shares included in Bajaj Auto, Bajaj Auto, Shriram Transport, DRL and Escorts The News

Nifty futures on the Singapore Exchange fell 243 points, or 1.48%, to 16,228.50, indicating a gloomy start on Friday for Dalal Street. Here are a dozen equities that are likely to be the most popular in today’s market:

Kotak Mahindra Bank: A day after the RBI boosted the policy rate to moderate inflation, the private sector lender announced a 0.50% increase in savings account interest rates for deposits of over Rs 50 lakh to 4%. Rates on term deposits have been raised by up to 0.25%.

Bajaj Auto has announced that its Board of Directors would consider a proposal to buy back fully paid-up equity shares of the firm on June 14. If there is one, it will be the company’s first buyback announcement since 2000.

HDFC, India’s largest mortgage lender, boosted its retail prime lending rate, while state-owned Indian Overseas Bank raised its repo-based lending rates. This comes just one day after the RBI raised the benchmark repo rate by 0.50% to keep inflation under control.

Tata Motors: The Securities and Exchange Board of India (Sebi) has let the homegrown auto major off with a warning to be “more careful” in its future securities market dealings, claiming that any adverse orders passed against the company at this stage may not serve any practical purpose for the events that occurred over 18 years ago.

Dr Reddy’s Laboratories has announced a collaboration with Olema Pharmaceuticals Inc of the United States to discover, develop, and commercialise novel small molecule inhibitors of an undisclosed cancer target.

Shriram Transport Finance Company: The largest NBFC announced that the US International Development Finance Corporation has provided it with long-term capital of $250 million. Under STFC’s social finance system, the external commercial borrowing (ECB) is a fixed-rate 10-year loan.

Escorts: The farm machinery and construction equipment manufacturer announced that it has gained all of the necessary approvals to change its name to Escorts Kubota. The rebranding comes after Kubota Corporation of Japan increased its investment in Escorts to 44.8% by subscribing to additional equity shares and making an open offer to Escorts’ public shareholders.

Welspun Enterprises said that it has signed formal agreements with Actis Roadway Infra to sell its portfolio of operating highway projects for an enterprise value (EV) of around Rs 6,000 crore.

The private lender Indian Overseas Bank increased its repo linked lending rate by the same amount. With effect from June 10, 2022, the bank has increased the RLLR (repo linked lending rate) to 7.75% (i.e. 4.90% + 2.85% = 7.75%).

HFCL: The telecom equipment maker has received orders for UBRs (unlicensed band radios) and accessories worth Rs 73.39 crore, with Rs 51.09 crore coming from one of the country’s largest private telecom carriers. An order for optical fibre cables worth Rs 22.30 crore has been received from one of India’s largest EPC companies.

Read Also: A partnership led by Apollo and Reliance Industries will submit a binding proposal for Boots

Crompton Greaves Consumer Electricals currently owns 81% of Butterfly Gandhimathi Appliances after purchasing a 26% investment in the company through an open offer on June 8, up from 55% previously.

Sona BLW Precision Forgings: The firm announced that the Board of Directors has re-appointed Vivek Vikram Singh as the company’s Managing Director and Group CEO for a five-year term beginning July 5, 2022. This, however, is contingent on shareholder approval.

Omaxe, a fuel retailing joint venture between Reliance Industries and supermajor BO, will install EV charging and battery swapping stations at real estate developer Omaxe’s properties in 12 cities as part of a plan to bring mobility solutions to users’ doorsteps. Omaxe will contribute to the development of a battery charging infrastructure for electric vehicles.

Oriental Aromatics & Sons, a subsidiary of the specialty chemical business Oriental Aromatics, has got environmental approval for its proposed greenfield facility in Mahad, Maharashtra, to manufacture specialty chemicals and chemical intermediates.

Asian Granito India: The board of directors has named Mehul Shah as the company’s new Chief Financial Officer, effective June 10, following the departure of Amarendra Kumar Gupta from the statutory position of Chief Financial Officer.

Read Also: ADIA will Buy 20% of IIFL Home Finance, Making it the Largest such Investment in the Market

Related Articles

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker