Trending Stocks: BPCL, PNB, Wipro, Tata Power and others in news today

BPCL

State-owned Bharat Petroleum Corporation Limited (BPCL)
has discontinued all activities related to the disinvestment of the company
after the government dropped plans to privatise the company for now. In a stock
exchange filing, the company said the government has through a letter dated
June 3, 2022, called off the present tender to sell its entire 53% stake in the
company. “Accordingly, all the activities in connection with the disinvestment
including the data room are being discontinued,” the firm said.

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Punjab National Bank

The public sector bank has revised its Repo-Based Lending Rate (RBLR) to 7.40% w.e.f. June 9, from 6.90% earlier. The revision comes after the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) announced to raise the repo rate by 40 basis points to 4.90%.

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Bank of India

The state-run lender has raised its Repo-Based Lending Rate (RBLR) to 7.75% with immediate effect, from 7.25% earlier. The revision follows the hike in the repo rate announced by RBI.

Also Read | RBI MPC meet: Central bank raises inflation projections above 6%

Tata Power

Tata Power Solar Systems Limited has commissioned a
450-megawatt solar plant for Brookfield Renewable India in Rajasthan. The
installation entails a setup of over 800,000 modules and was completed within a
record seven months timeframe. The project would produce over 800-gigawatt
hours (GWh) of clean energy annually and help avoid up to 600,000 tons of
annual carbon dioxide emissions.

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Wipro

Wipro along with ServiceNow announced that they will help
Petrobras, the largest publicly traded company in Brazil, to advance its
digital journey. The project aims to raise the level of service for internal
users and reduce costs by modernising and aligning IT infrastructure processes
with the business through a modern cloud solution focused on automation and
integration. The project scope is related to maintaining IT assets, systems
updates, and digitizing processes. Petrobras is one of the largest oil, natural
gas and derivatives exploration, production and distribution companies in the
world.

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Rail Vikas Nigam

Rail Vikas Nigam (RVNL) has signed an agreement with
“Kyrgyzindustry” for the execution of infrastructure projects in the Kyrgyz
Republic. The company will execute a railway line network on mutually agreed
terms and conditions in the Kyrgyz Republic.

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BLS International Services

The company through its wholly-owned subsidiary BLS
E-services  (BEPL) intends to acquire a
100% Equity stake of Zero Mass Private (ZMPL) at an equity valuation of Rs 120
crore. BEPL has entered into a Share Purchase Agreement and Share Transfer
Agreement to acquire in aggregate 88.26% equity shares of ZMPL for an aggregate
sum of consideration of Rs 105.90 crore. With this all-cash acquisition from
the company’s internal accruals, BLS International becomes the largest business
correspondent (BC) network in India.

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Crompton Greaves Consumer Electricals

The company Board of Directors will meet on June 13 to
consider a proposal to raise funds through the issuance of debt securities on a
private placement basis up to Rs 925 crore.