Market View 16th June 2022

News Update:

UPL: National Company Law Tribunal approved the company’s resolution plan for revival of Kudos Chemie. Company’s newly incorporated wholly owned subsidiary UPL Speciality Chemicals has acquired Kudos Chemie for Rs 40 crore.

SBI: The bank increased minimum interest rate for home loan to 7.55%.

Zomato: Jio-bp will provide EV mobility services to Zomato along with access to ‘Jio-bp pulse’s battery swapping stations.

Equitas Small Finance Bank: RBI approved Managing Director and Chief Executive Officer Vasudevan PN’s reappointment for a year effective from July 23.

NBCC: The company secured total business of Rs 330.35 crore during the month of May.

Tata Steel: Wholly owned subsidiary of the company, Tata Steel Mining has acquired 10% stake in equity stake in Rohit Ferro-Tech for Rs 20.06 crore. RFT will become a wholly owned subsidiary of TSML. Tata Steel invested the same amount in TSML through rights basis.

Indian Overseas Bank: The bank approved issue of equity shares of Rs 1,000 crore via Follow on Public Offer/Rights Issue with or without participation from government of India/issue of equity shares to Qualified Institutional Buyers/issue of shares to employees/issue of shares on preferential basis to LIC and other insurance companies/mutual funds. It also approved raising Tier II capital upto Rs 1000 cr.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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