Press "Enter" to skip to content

Stocks in the news: Bajaj Auto, HDFC, Shriram Transport, DRL and Escorts – Economic Times

Nifty futures on the Singapore Exchange traded 243 points, or 1.48 per cent lower at 16,228.50, signaling that Dalal Street was headed for a negative start on Friday. Here are a dozen stocks which may buzz the most in today’s trade:

Kotak Mahindra Bank: The private sector lender announced a 0.50 per cent increase in savings account interest rate for deposits of over Rs 50 lakh to 4 per cent, a day after RBI hiked the policy rate to tame inflation. Term deposit rates have also been increased by up to 0.25 per cent.

Bajaj Auto:
The two-wheeler maker said that the Board of Directors on June 14 will consider a proposal for buyback of fully paid-up equity shares of the company. If any, then it would be the first buyback announcement, by the company since 2000.

HDFC: The country’s largest mortgage lender announced a hike in its retail prime lending rate, while state-owned raised the repo-based lending rates. This comes a day after RBI hiked the benchmark repo rate by 0.50 per cent to control inflation.

Tata Motors: Sebi has let off the homegrown auto major with a warning to be “more careful” in its future dealings in the securities market, saying any adverse orders passed against the company at this stage may not practically serve any purpose for the events accrued over 18 years ago.

Dr Reddy’s Laboratories: The drug maker said its subsidiary has inked a pact with US-based Olema Pharmaceuticals Inc to research, develop and commercialize novel small molecule inhibitors of an undisclosed oncology target.

Shriram Transport Finance Company:
The leading NBFC said it has secured long-term funding of $250 million from the US International Development Finance Corporation. The external commercial borrowing (ECB) is a fixed-rate 10-year loan under STFC’s social finance framework.

The farm machinery and construction equipment maker said it has received requisite approvals for changing its name to Kubota. The name change comes in the wake of Japan’s Kubota Corporation increasing its stake in Escorts to 44.8 per cent by subscribing to new equity shares and through an open offer to the public shareholders of Escorts.

Welspun Enterprises: The infrastructure firm said it has executed definitive agreements with Actis Highway Infra to sell its portfolio of operating highway projects for an aggregate enterprise value (EV) of approximately Rs 6,000 crore.

Indian Overseas Bank: The private lender raised its repo linked lending rate by the same margin. The bank has revised the RLLR (repo linked lending rate) to 7.75 per cent (i.e. 4.90 per cent + 2.85 per cent = 7.75 per cent) with effect from 10th June 2022.

HFCL: The telecom gear maker has received orders worth Rs 73.39 crore consisting of Rs 51.09 crore from one of the leading private telecom operators of the country for supply of UBRs (unlicensed band radio) along with accessories. The order worth Rs 22.30 crore has been bagged from one of the leading EPC players of India for supply of optical fibre cables.

Butterfly Gandhimathi Appliances:

now holds 81 per cent equity stake in the company after acquiring 26 per cent stake through open offer on June 8, up from 55 per cent earlier.

Sona BLW Precision Forgings: The company informed exchanges that the Board has re-appointed Vivek Vikram Singh as the Managing Director and Group CEO of the company for a period of 5 year starting from July 5, 2022. However, this is subject to the approval of the shareholders.

Omaxe: The fuel retailing joint venture between

and supermajor BO – will set up EV charging and battery swapping stations at properties of real estate developer in 12 cities as it looks to take mobility solutions to doorstep of users. Omaxe will be a partner in establishing a battery charging ecosystem for electrical vehicles.

Oriental Aromatics: The specialty chemical company’s subsidiary

& Sons has received environmental clearance for its proposed greenfield project for manufacturing of speciality chemicals & chemical intermediates, at additional MIDC Mahad, Maharashtra.

Asian Granito India: The tile maker informed exchanges that the board has appointed Mehul Shah as new Chief Financial Officer of the company with effect from June 10, after Amarendra Kumar Gupta has tendered his resignation from the statutory position of Chief Financial Officer.