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Stocks in News

June 16, 2022

Reliance Industries: Brokerage firm JP Morgan India has upgraded its rating on shares of Reliance Industries to ‘overweight’ from ‘neutral’ earlier and set a price target of Rs 3,170 implying an upside of more than 22 percent over the next 12 months.

Jyothy Labs: Nalanda India Equity Fund buys 6.55 lakh shares in Jyothy Labs. Nalanda India Equity Fund bought 6.55 lakh equity shares in the company via open market transactions on June 14.

Indian Overseas Bank: Indian Overseas Bank to raise Rs 2,000 crore in FY23. The public sector lender said the board has approved the capital plan for FY23.

NBCC (India): NBCC bags Rs 330.35 crore worth orders in May. The company has secured total Business of Rs 330.35 crore during the month of May, 2022.

State Bank of India: The country’s largest lender has hiked the minimum interest rates for home loans to 7.55 per cent effective Wednesday.

Equitas Small Finance Bank: The private lender said that the Reserve Bank of India has okayed its proposal to reappoint MD and CEO Vasudevan P N for one year.

The US Federal Reserve has announced 0.75% interest rate hike, which can lead to the US economy slowing to 1.7% growth this year & unemployment rising to 3.7%.

The Indian Government has approved the auction of 5G spectrum for 20 years. Telecom companies likely to take part in the auction: Reliance Industries (Jio), Airtel, Vodafone ldea.