Eicher Motor, Reliance, Delta Corp and other stocks in news today

NEW DELHI: Indian equity markets are likely to open in the red. Markets on Wednesday extended losses for the second consecutive day as both the Sensex and Nifty ended in the red, tracking mixed trends from Asian peers. Power and realty stocks fell the most while bank and metal stocks were among the gainers.

Wall Street’s three major indexes closed lower on Wednesday as investors bet that the latest economic data would do nothing to push the Federal Reserve off track from its aggressive interest rate hiking cycle aimed at taming run-away inflation. Gross GST revenue collected in May was Rs 1.4 trillion, 44 percent higher than the revenues in the same month last year but 16 percent less than in April, which had touched an all-time high of over Rs 1.67 trillion.

The number for May pertains to the returns in April. Stocks in news HDFC has announced that it has raised its benchmark lending rate by 5 basis points, a move that will increase EMI for new and existing borrowers.

“HDFC increases its Retail Prime Lending Rate (RPLR) on Housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 5 basis points, with effect from June 1, 2022”, the company said in a statement. ICICI Bank and Punjab National Bank (PNB) have announced a hike in their marginal cost based lending rates (MCLR).

State Bank of India (SBI) has also increased its home loan interest rates effective from June 1, 2022. The bank has raised the external benchmark-based lending rate (EBLR) by 40 basis points to 7.05% plus CRP and the repo rate linked lending rate (RLLR) has risen to 6.65% plus CRP. eMudhra shares managed to stay above the issue price for most of the session on June 1 and closed with a one percent gain on the listing day despite volatility in the market.

HUL: FMCG giant Unilever said billionaire investor activist Nelson Peltz will join its board. Peltz is known for reshaping large consumer goods firms such as Mondelēz International and Procter & Gamble. Eicher Motors has been fined Rs 10 lakh by the Securities and Exchange Board of India (SEBI) on June 1 for failing to perform due diligence in a case involving the issue of duplicate shares or new certificates. According to an order issued by the capital markets regulator, the corporation must pay the penalties within 45 days.

Ami Organics: Plutus Wealth Management LLP bought 5.25 lakh shares in the company via open market transactions at an average price of Rs 880.34 per share.

Knowledge Marine & Engineering Works: The company has received a contract from Dredging Corporation of India, for ‘capital dredging at Mangrol Fishing Harbour Phase III Part B’, for a tenure of 12 months. The project cost is Rs 67.85 crore.

Welpsun Enterprises: received orders of Rs 4,636 cr from BMC for Dharavi Wastewater Treatment facility.

Reliance: Reliance Brands Ltd. (RBL) has entered a JV with Plastic Legno SPA for its India toy manufacturing business.

Delta Corp: Ace investor Rakesh Jhunjhunwala has trimmed stake in Delta Corp to 6.2% from 7.1%, according to an exchange filing.

Coal India: produced 108.2 million ton of coal over April and May, a 28.8% increase since the same period last year.

Maruti Suzuki: sold 161,413 units in May 2022, 246% higher than May 2021. M&M: domestic sales increased to 53,726 units, 208% higher than May 2021.

Tata Motors: domestic sales increased to 74,755 units, 185% higher than May 2021.

Bajaj Auto: domestic sales at 2,75,868 units, 1% higher than May 2021.