Stocks to Watch on Thursday: Nifty futures on the Singapore Exchange traded 51.5 points, or 0.32 per cent, lower at 16,297.50, signaling that Dalal Street was headed for a negative start on Thursday. Rattled by inflation and tightening fears, the 30-share pack closed 214.85 points lower at 54,892.49. Its broader peer, Nifty50, also struggled but managed to hold the 16,350 mark in the previous session. Though this rate hike is on expected lines, benchmark indices still struggled for a direction and swung between gains and losses and finally settled with cuts for the fourth consecutive session.
Bank of India
The public sector bank has changed its Repo-Based Lending Rate (RBLR) to 7.75 percent with immediate effect, from 7.25 percent earlier. The revision is on account of the upward revision in repo rate announced by the RBI, on June 8 in its monetary policy.
Punjab National Bank
The state-run lender has revised its Repo-Linked Lending Rate (RLLR) to 7.40 percent w.e.f. June 9, from 6.90 per cent earlier. The bank has taken this decision especially after the RBI hiked the repo rate.
The IT services company and ServiceNow will help Petrobras, the largest publicly traded company in Brazil, to advance its digital journey. The project aims to raise the level of service for internal users and reduce costs by modernising and aligning IT infrastructure processes with the business through a modern cloud solution focused on automation and integration.
Tata Power Company
Subsidiary Tata Power Solar has commissioned an EPC project of 450 MWDC for Brookfield Renewable India in Rajasthan. The company has set up over 8 lakh modules and completed them within a record 7-month timeframe. The project will produce over 800GWh of clean energy annually and will help avoid up to 600,000 tons of annual CO2 emissions.
Rail Vikas Nigam
Rail Vikas Nigam (RVNL) has entered into an agreement with “Kyrgyzindustry” for the execution of infrastructure projects in Kyrgyz Republic. Particularly the company is going to execute a railway line network on mutually agreed terms and conditions in Kyrgyz Republic.
BLS International Services
The company has acquired Mumbai-headquartered Zero Mass Private (ZMPL) – the largest business correspondent in the country –for Rs 120 crore. With this all-cash acquisition from the company’s internal accruals, BLS International becomes the largest business correspondent (BC) network in India. BLS International now owns an 88.26 per cent equity stake in ZMPL, and State Bank of India continues to hold 6.83 per cent equity stake in ZMPL. ZMPL has been operating the largest BC network for State Bank of India (SBI) with around 11,500 active CSPs (around 15 per cent of all the SBI BCs). The company has a pan-India presence with CSPs located across all states and union territories of India. Apart from SBI, ZMPL has contracts with Utkal Grameen Bank and Karur Vysya Bank.
Crompton Greaves Consumer Electricals
The company’s Board of Directors on June 13 will consider a proposal to raise funds by way of issuance of debt securities on a private placement basis up to Rs 925 crore.
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