Top 5 stocks in news on June 1: PNB, Idea Cellular, Bayer Crop Science, ONGC and Fortis Healthcare

Punjab National Bank (PNB): The lender has revised upwards the marginal cost of funds based lending rate (MCLR) for select tenors by 0.05-0.10 per cent, a move that will lead to costlier loans. It has also increased its base rate by 1 per cent and with this, the base rate went up to 9.25 per cent

Idea Cellular: It has completed the sale of its mobile tower business to ATC Telecom Infra for Rs 4,000 crore. It has paved the way for the merger with Vodafone India to form the country's largest telecom operator. Image source: Reuters

Here are stocks that are in news on June 1, 2018: Punjab National Bank (PNB): The lender has revised upwards the marginal cost of funds based lending rate (MCLR) for select tenors by 0.05-0.10 per cent, a move that will lead to costlier loans. It has also increased its base rate by 1 per cent and with this, the base rate went up to 9.25 per cent. These two decisions are going to be effective from June 1.

Idea Cellular: It has completed the sale of its mobile tower business to ATC Telecom Infra for Rs 4,000 crore. It has paved the way for the merger with Vodafone India to form the country's largest telecom operator.

Bayer Crop Science: Bayer-Monsanto merger gets approval by the boards of their parent companies Bayer AG and Monsanto AG. Bayer is acquiring 100% stake of Monsanto Indian.

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Oil and Natural Gas Corporation (ONGC): The government may ask the state-owned oil giant to bear the fuel subsidy by cutting petrol and diesel prices.

Fortis Healthcare: It has said that its one of subsidiaries, Fortis Healthcare International, the wholly owned subsidiary of Fortis Healthcare, has sold off 18.2 million units of RHT Health Trust an associate of the company. The shares were sold for around Rs 69 crore (13.65 million SGD).

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