The domestic stock markets opened in green on Monday led by strong buying in blue-chip stocks. Asian shares slipped on Monday as investors feared of more protectionist measures from the US, according to a Reuters report.
The domestic stock markets opened in green on Monday led by strong buying in blue-chip stocks like Asian Paints, ITC, Infosys, Bharti Airtel, SBI, UPL, Bajaj Finance, Bajaj Finserv among others. Asian shares slipped on Monday as investors feared of more protectionist measures from the US, according to a Reuters report. The dollar declined against major currencies after U.S. President Donald Trump on Friday criticised the Federal Reserve’s tightening policy.
These stocks will be in news today, July 23, 2018:
HDFC Bank: HDFC Bank’s net profit jumped 18.2% to Rs 4,601.44 crore in the first quarter ended June 30, the bank said on Saturday. Total income for the quarter grew 18.8% to Rs 26,367 crore from Rs 22,185.40 crore in the quarter ended June 30, 2017, the bank said in a regulatory filing.
UPL: UPL (earlier known as United Phosphates) on Friday announced the acquisition of Arysta Life Science Inc for $4.2 billion, which will enhance its position as a global leader in agriculture solutions market and will make it a USD 5 billion entity in combined sales, said a PTI report.
ACC, United Spirits, Vijaya Bank, V-Mart: ACC, United Spirits, Delta Corp Ltd, Hindustan Zinc, Vijaya Bank, V-Mart Retail, Granules India Limited, ICICI Securities are some of the companies which will declare their quarterly results today.
Wipro: The IT firm posted over 2% increase in consolidated net profit at Rs 2,120.8 crore for June 2018 quarter. Total profit grew marginally to Rs 2,093.8 crore for the April-June 2018 quarter, from Rs 2,082.6 crore in the year-ago period.
Zydus Cadila: The pharma company on Saturday said it has received final approval from the US health regulator to market Spironolactone tablets, used to treat high blood pressure and heart failure. According to a BSE filing, Zydus Cadila has received the final approval from the USFDA) to market Spironolactone tablets in the strengths of 25 mg, 50 mg and 100 mg.
TV, consumer goods stocks: The GST Council on Saturday reduced tax rates on an array of daily use appliances and products. While GST tax on sanitary pads was cut from 12% to zero, rakhis were exempted from the tax. Among items on which GST was reduced include footwear, small televisions, water heater, electric ironing machines, refrigerators, lithium ion batteries, hair dryers, vacuum cleaners, food appliances and ethanol.
Reliance Power: Reliance Power on Saturday reported about 3% rise in its consolidated net profit at Rs 237.33 crore in the quarter ended on June 30, 2018. The company had reported a consolidated net profit of Rs 230.85 crore in the quarter ended on June 30, 2017, a BSE filing said.