Bank

Vedanta, YES Bank, Eicher Motors and others

Nifty futures on the Singapore Stock Exchange traded 68.50 points, or 0.41%, at 16,439.50, signaling that Dalal Street was heading for a negative start on Thursday. The Sensex and Nifty suffered losses for the second straight session on Wednesday, pressured by sharp declines in IT, FMCG and pharmaceutical counters amid a mixed trend overseas. High crude oil prices, lackluster macro data and outflows of foreign funds also played havoc. The 30-stock Sensex BSE fell 185.24 points or 0.33% to settle at 55,381.17 in a choppy session. On similar lines, the broader NSE Nifty fell 61.80 points or 0.37% to end at 16,522.75.

NHPC

State-owned NHPC Ltd aims to secure revenue of Rs 2,000 crore in the current financial year, its chairman and chief executive, Abhay Kumar Singh, has said. This is part of the securitization model the company has adopted in line with the Centre’s National Monetization Pipeline (NMP). India’s largest power generation company has appointed SBI Capital Markets Ltd for this exercise.

Trust Industries

Reliance Brands Ltd (RBL) and Plastic Legno SPA have entered into a joint venture agreement whereby RBL will acquire a 40% 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 debts as the private lender seeks to clean up its books and raise capital to fund credit growth.

Dhanlaxmi Bank

Bank shareholders have raised questions about the lender’s financial situation amid two major resignations.

Nestle India

Nestle India is looking to tap into opportunities in new categories such as “healthy ageing”, “plant-based nutrition” and “healthy snacks” to drive growth in the country, its chairman and chief executive Suresh Narayanan said on Wednesday. .

Car manufacturers

Major automakers Maruti Suzuki, Hyundai and Tata Motors announced strong deliveries to dealers from May.

Vedanta

Vedanta Board Meets June 4 for MNT Issuance Proposal: The company owned by billionaire Anil Agarwal has informed exchanges that the board meeting is expected to be held on June 4 regarding relates to its proposal to raise funds of Rs 4,100 crore in one or more tranches via non-convertible debentures.
Maruti-Suzuki
The country’s biggest automaker produced 1,64,859 vehicles in May, up significantly from the 40,924 units produced in the same month last year. The shortage of electronic components had a minor impact on vehicle production during the month. May 2022 production figures are not comparable to May 2021 as operations were significantly impacted then due to COVID-19.

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