Business News

Stocks to Watch Today: Vedanta, YES Bank, Eicher Motors, and Others

June 2, 2022
Bharat Times

Nifty futures on the Singapore Exchange traded 68.50 points, or 0.41 per cent, lower at 16,439.50, signaling that Dalal Street was headed for a negative start on Thursday. The Sensex and Nifty nursed losses for the second straight session on Wednesday, pressured by steep declines in IT, FMCG and pharma counters amid a mixed trend overseas. High crude oil prices, lacklustre macroeconomic data and foreign fund outflows also played spoilsport. The 30-share BSE Sensex declined 185.24 points or 0.33 per cent to settle at 55,381.17 in a see-saw session. On similar lines, the broader NSE Nifty dipped 61.80 points or 0.37 per cent to finish at 16,522.75.

NHPC

State-run NHPC Ltd aims to securitize Rs 2,000 crore revenue in the current fiscal, said its chairman and managing director, Abhay Kumar Singh. This is part of the securitization model the company has adopted in line with the Centre’s national monetisation pipeline (NMP). India’s largest power generation firm has appointed SBI Capital Markets Ltd for this exercise.

Reliance Industries

Reliance Brands Ltd (RBL) and Plastic Legno SPA have entered a joint venture pact through which RBL will acquire a 40 per cent stake in the European company’s toy manufacturing business in India.

YES Bank

Yes Bank Ltd has chosen JC Flowers Asset Reconstruction Co. as its joint venture partner to offload Rs 49,000 crore of bad loans as the private lender seeks to clean up its books and raise capital to fund credit growth.

Dhanlaxmi Bank

The bank’s shareholders have raised questions regarding the financial situation of the lender amid two major resignations.

Nestle India

Nestle India is looking to tap opportunities in new categories such as ‘healthy ageing’, ‘plant-based nutrition’ and ‘healthy snacking’ to boost growth in the country, its Chairman and Managing Director Suresh Narayanan said on Wednesday.

Carmakers

Leading carmakers Maruti Suzuki, Hyundai and Tata Motors reported robust dispatches to dealers in May onwards.

Vedanta

Vedanta board meets on June 4 for proposed NCDs issue: The billionaire Anil Agarwal-owned company informed exchanges that the board meeting is scheduled to be held on June 4 with respect to its proposed fundraising of Rs 4,100 crore in one or more tranches via non-convertible debentures.
Maruti Suzuki
The country’s largest carmaker produced 1,64,859 vehicles in May, up significantly from 40,924 units produced in the same month last year. The shortage of electronic components had a minor impact on the production of vehicles during the month. The production figures for May 2022 are not comparable with May 2021’s as the operations then were significantly affected due to COVID-19.

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