Stocks to Watch on Thursday: Nifty futures on the Singapore Exchange traded 51.5 points, or 0.32 per cent, down 16,297.50, indicating that Dalal Street was heading for a negative start on Thursday. Due to inflation and tightening fears, the 30-share pack closed 214.85 points lower at 54,892.49. Its broader peer, the Nifty50, also struggled but was able to hold the 16,350 mark in the previous session. Although this rate increase is in the expected lines, the benchmark indices are still struggling for one direction and swing between pluses and losses and finally fixed on the reductions for the fourth. consecutive sessions.
Bank of India
The public sector bank changed its Repo-Based Lending Rate (RBLR) to 7.75 percent with immediate effect, from 7.25 percent earlier. The revision is due to the increase in the repo rate revision announced by the RBI, on June 8 in its monetary policy.
Punjab National Bank
The state-run lender changed its Repo-Linked Lending Rate (RLLR) to 7.40 percent wef June 9, from 6.90 percent earlier. The bank took this decision especially after the RBI raised the repo rate.
The IT services company and ServiceNow will help Petrobras, the largest publicly traded company in Brazil, advance its digital journey. The project aims to raise the level of service for internal users and reduce costs by modernizing and aligning business IT infrastructure processes through modern cloud solutions focused on automation and integration.
Tata Power Company
Subsidiary Tata Power Solar has commissioned a 450 MWDC EPC project for Brookfield Renewable India in Rajasthan. The company has set up more than 8 lakh modules and completed them within a record 7-month timeline. The project will generate more than 800GWh of clean energy annually and help prevent up to 600,000 tonnes of annual CO2 emissions.
Railway Vikas Nigam
Rail Vikas Nigam (RVNL) has entered into an agreement with “Kyrgyzindustry” for the implementation of infrastructure projects in the Kyrgyz Republic. Specifically the company will implement a railway line network on terms and conditions mutually agreed upon in the Kyrgyz Republic.
BLS International Services
The company 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 has become the largest business correspondent (BC) network in India. BLS International now owns an 88.26 per cent equity stake in ZMPL, and the State Bank of India continues to hold a 6.83 per cent equity stake in ZMPL. ZMPL operates the largest BC network for the State Bank of India (SBI) with approximately 11,500 active CSPs (approximately 15 per cent of all SBI BC). The company has a pan-India presence with CSPs located in all Indian union states and territories. Besides 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 issuing debt securities on a private placement basis up to Rs 925 crore.
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