Stocks in news: Reliance Industries, Wipro, YES Bank, PowerGrid and more

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Stocks in news: Reliance Industries, Wipro, YES Bank, PowerGrid and more

Sensex  and Nifty were likely to open higher on Friday tracking strong global cues with S&P hitting record high in overnight trade. On Thursday, benchmark indices snapped two days of losses. Sensex zoomed 358  points to end at 52,300. Nifty rose 102 points to end at 15,737.

Bajaj Finance was the top Sensex gainer rallying 7.29 per cent, followed by shares of Bajaj FinServ, SBI, IndusInd Bank, Dr Reddy’s, Tech Mahindra, ITC and Kotak Bank.

Here’s a look at stocks which are likely to remain in news today.

Reliance Industries: The firm said it has shut a secondary unit at its only-for-exports oil refinery at Jamnagar in Gujarat, which may delay shipment of some product cargoes.

IIFL Home Finance: The firm plans to raise up to Rs 1,000 crore in bonds as the lender is eyeing 18% growth this fiscal.

YES Bank: The board of directors of the lender, in its meeting on Thursday, approved a plan to raise funds up to Rs 10,000 crore by issue of debt securities including non-convertible debentures, bonds, medium term  note  (MTN), etc.

Wipro: The IT services major’s step-down subsidiary, Wipro IT Services, has approved a proposal for issuing US dollar denominated notes of up to $750 million. The net proceeds of the notes, which are proposed to be listed on the Singapore Stock Exchange, are intended to be utilised for refinancing existing debt and general corporate purposes.

Bank of Baroda: The lender has reduced the benchmark one-year marginal cost of funds based lending rate (MCLR) by 0.05 percent. The revised lending rate will be effective from June 12, 2021. The MCLR for one-year tenor stands revised at 7.35 percent.

PowerGrid Corporation: Board of the company will consider a proposal to issue bonus shares to its shareholders in a meeting scheduled on June 17.

Bank of India: The lender has declared three non performing accounts with the outstanding balance of Rs 143.74 crore as fraud and reported to RBI.

Gayatri Projects: The National Highways Authority of India (NHAI) has declared the infra firm as a non-performer. It has been prohibited from participating in the ongoing and future bids of NHAI till the defects on the current project are not completely rectified as per contract requirement.

National Fertilizers: Net loss in Q4FY21 fell to Rs 9.53 crore from Rs 248.65 crore, while revenue declined to Rs 2,961.17 crore from Rs 3,014.43 crore, YoY.

Tera Software: The company posted Q4FY21 profit at Rs 0.99 crore against Rs 2 crore in Q4FY20.