BackStocks to Watch: Wipro, Vedanta, PNB, YES Bank, Tata Power
Indian indices on Wednesday closed lower, extending run of losses, dragged by heavy selling pressure in market heavyweights Reliance Industries, Bharti Airtel, and ITC as RBI's monetary policy committee decided to increase repo rate by 50 bps to 4.9%.
PremiumHere is the list of the top 10 stocks that are likely to be in focus on Thursday:
Wipro: The IT services firm will work with Brazilian company Petrobras to help in digitalisation.
Bank of India: The bank increased its repo-based lending rate to 7.75% after RBI announced revision of repo rate by 50 bps to 4.9%.
Punjab National Bank: The bank increased its repo-linked lending rate to 7.4% after RBI's decision to hike repo rate.
YES Bank: Two years after the government and the Reserve Bank of India (RBI) put in place a special plan to rescue Yes Bank Ltd, the private sector lender is now set to exit the reconstruction scheme.
Vedanta: Vedanta has confirmed pledging 5.77 per cent stake in Hindustan Zinc Ltd for a term loan of ₹8,000 crore.
Shoppers Stop: Retailer Shoppers Stop on Wednesday announced the appointment of Sandeep Jabbal as the company’s customer care associate and chief digital transformation and information officer with effect from 23 May 2022.
Tata Power: Brookfield Renewable India, an arm of the Canadian private equity major, on Wednesday commissioned its first greenfield solar project with a capacity of 445 mw near Jodhpur in Rajasthan. Tata Power Solar Systems was the construction partner with HSBC India and Axis Bank were the financing partners.
Telecom stocks: Telecom service providers have urged the government not to reserve or de-license any spectrum, which has been identified or is likely to be identified for use of mobile services, towards private networks ahead of upcoming 5G auctions.
Indian Oil Corporation: Air Products, a world leader in industrial gases, on Wednesday said it has signed a long term supply agreement with the state-owned Indian Oil Corporation Limited (IOCL).
Beverage companies: With the deadline for a nationwide ban on single-use plastic fast approaching, beverage manufacturers and industry associations have yet again petitioned the government to allow a gradual phasing out of plastic straws for small packs of juice, fizzy drink and milk-based beverage.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
