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    Stocks in the news: Dr Reddy's, NMDC, Tata Power, SBI Cards and Canara Bank

    Synopsis

    NMDC, the country's largest iron ore miner, has made a sharp reduction of Rs 1,100 per tonne in the price of lump ore and Rs 1,000 in case of fines. The prices are effective from June 5, 2022.

    A man walks past the Bombay Stock Exchange (BSE) building in MumbaiReuters
    Stocks in buzz: Mav Ventures, IRB Infra, Karur Vysya Bank, HLE Glasscoat, Dish TV India, Future Retail and more
    Nifty futures on the Singapore Exchange traded 108 points, or 0.65 per cent lower at 16,464, signaling that Dalal Street was headed for a negative start on Tuesday. Here are a dozen stocks which may buzz the most in today's trade:

    Dr Reddy's Laboratories:
    Aveva, an affiliate of Apotex, received #ANDA approval of Suboxone. It is the fourth generic drug to get the approval with the pharma major already having 18 per cent market share in the three-generic drug makret.

    NMDC:
    The country's largest iron ore miner has made a sharp reduction of Rs 1,100 per tonne in the price of lump ore and Rs 1,000 in case of fines. The prices are effective from June 5, 2022.

    Tata Power:
    The Tata group's arm has partnered with real estate company Kolte-Patil Developers (KPDL) to set up e-charging stations across its projects in Pune, Mumbai and Bengaluru for convenience of electric vehicle owners.

    Zomato: Food delivery company’s board is likely to meet on June 17 to clear a proposal to acquire quick commerce startup Blinkit, almost two years after the two entities first discussed a potential deal.

    SBI Cards and Payment Services: The credit and debit card firm said its board has approved a proposal to raise Rs 2,500 crore by issuing non-convertible debentures (NCDs) to fund business growth. The fund would be raised in one or more tranches. The NCD issuance would be done on a private placement basis.

    Canara Bank: The state-owned lender has revised their lending rates leading to an increase in EMIs linked to the respective benchmarks. It has raised the marginal cost of funds based lending rate by 0.05 per cent of 5 basis points to 7.40 per cent for one year tenure. The bank has also raised the MCLR rate for 6 months tenure to 7.35 per cent from 7.30 per cent.

    Max Ventures & Industries:
    The holding company said it will acquire Accord Hotels and Resorts, which owns a 10-acre land parcel in Noida, for Rs 306 crore. In a statement, MaxVIL said its arm Max Estates will acquire 100 per cent of equity in Accord Hotels and Resorts.

    Angel One: The domestic brokerage firm, formerly Angel Broking, crossed the 10-million customers mark in May, more than doubling its customer base over the past 12 months. In May alone, it added over 0.47 million new customers, taking its overall customer base to 10.10 million.

    IRB Infrastructure Developers: The construction firm said it has offered Vadodara Kim Expressway, being developed under Hybrid Annuity Model (HAM), to IRB InvIT Fund. The Vadodara Kim stretch, which is part of Delhi-Mumbai Expressway (DME), is 23.740 km-long and has project cost outlay of Rs 2,094 crore.

    Karus Vysya Bank: The private sector lender Karur Vysya Bank in a filing said that it has revised the Benchmark Prime Lending Rate by 40 basis points to 13.75 per cent and the base rate by similar percentage points to 8.75 per cent. These are the old benchmarks for lending before the MCLR regime.

    HLE Glascoat: The industrial equipment company informed exchanges that the board has approved sub-division of existing one equity share of face value Rs 10 each, into fully paid up into five equity shares of Rs 2 each, and also fund raising up to Rs 350 crore.

    Dish TV India: Promoter entity World Crest Advisors LLP offloaded 0.51 percent equity stake in the company via open market transactions. With this, its shareholding in the company stands reduced to 0.05 per cent, down from 0.56 per cent earlier. Another promoter Direct Media Distribution Ventures also sold 1.53 per cent stake in the company and reduced shareholding to 0.56 perc ent from 2.09 per cent earlier.

    Future Retail:
    The National Company Law Tribunal (NCLT) will hear Amazon's petition opposing initiation of insolvency resolution proceedings against debt-ridden Future Retail on June 10. A plea seeking initiation of insolvency resolution proceedings against FRL was filed by Bank of India (BoI).

    Pharmaids Pharmaceuticals: The pharma company's promoter Sadhanala Venkata Rao sold 6.98 per cent stake in the company via open market transactions on June 6. With this, Rao's shareholding in the company stands reduced to 15.41 per cent, down from 22.39 per cent earlier.



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    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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