The Indian equity market fell for the fourth consecutive session ahead of Federal Reserve's policy announcement Wednesday. Sensex lost 152 points to 52,541 and Nifty closed 40 points lower at 15,692. Top Sensex losers were NTPC, Infosys, Reliance Industries, Hindustan Unilever, Wipro, Tech Mahindra and PowerGrid, falling up to 2.02 per cent. Bajaj Finserv, Bajaj Finance, Tata Steel and Larsen & Toubro were among the top Sensex gainers, rising up to 4.24 per cent.
Here's a look at stocks that are likely to remain in news today.
State Bank of India: The lender has raised the minimum interest rates for home loans to 7.55 per cent effective Wednesday. The move follows a 50 basis points hike in repo rate to 4.90 per cent by the Reserve Bank of India (RBI) last week. In May also RBI had hiked repo rate by 40 basis points.
UPL: The agrochemical major has acquired 100 per cent stake in Punjab-based Kudos Chemie through its wholly owned subsidiary in a bankruptcy resolution process. The National Company Law Tribunal Chandigarh bench gave its approval to UPL's resolution plan submitted under the Insolvency and Bankruptcy Code for revival of Kudos Chemie.
EKI Energy Services: The carbon credit developer and supplier has established a wholly owned subsidiary in Singapore. The subsidiary, EnKing International, will offer climate consultancy and advisory services for carbon asset management through its comprehensive bouquet of sustainable solutions.
Banking stocks: Fitch Ratings has revised its outlook to stable from negative for nine India-based banks, including SBI, ICICI Bank and Axis Bank. The other lenders include Bank of Baroda, Bank of Baroda (New Zealand) Ltd, Bank of India, Canara Bank, Punjab National Bank, and Union Bank of India.
Indian Overseas Bank: The state-run lender's board has approved raising of up to Rs 1,000 crore equity capital through issuance of shares via various modes. The board approved the capital plan of the bank for 2022-23.
Usha Martin: Promoter entities Peterhouse Investments and PACs have offloaded 63,000 equity shares in the company via open market transactions on June 14 and June 5. With this, stake in the company has reduced to 1.91 per cent, down from 1.94 per cent earlier.
Equitas Small Finance Bank: Reserve Bank of India has cleared the bank's proposal to reappoint MD and CEO Vasudevan P N for one year. RBI vide its letter dated June 15, 2022 has approved the proposal to reappoint Vasudevan P N as the Managing Director & Chief Executive Officer of the bank, for a period of one year, the lender said.
NBCC: The company has secured business orders worth Rs 330.35 crore in May.
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