Indian stock markets are likely to open flat on Monday, 14 May 2018, following the minimal uptick in the US equities on Friday and weaker-than-expected Q4 results by most of the PSU banks.
Indian stock markets are likely to open flat on Monday, 14 May 2018, following the minimal uptick in the US equities on Friday and weaker-than-expected Q4 results by most of the PSU banks. The early indicator of NSE Nifty, SGX Nifty Futures was trading little changed, up 0.01% at 10,824 at Singapore Exchange on Monday. Shares of FMCG giant Hindustan Unilever (HUL), Abbott India, Blue Star, Bombay Dyeing, Dr Lal Path Labs, Godrej Agrovet, Polaris Consulting & Services and South Indian Bank will be in a close watch ahead of their respective Q4 results due today.
These shares will be in focus today
Reliance Naval: Vijaya Bank has classified the Anil Ambani group-led Reliance Naval & Engineering as a non-performing asset from the March quarter after the auditors of the company recently raised doubts about firm’s ability to continue as a “going concern.”
Oriental Bank of Commerce: Oriental Bank of Commerce (OBC) posted a net loss of Rs 1,650.22 crore for the quarter ended 31 March 2018.
Dena Bank: The Reserve Bank of India has initiated prompt corrective action against public sector lender Dena Bank in view of high non-performing loans, restricting the bank from giving fresh credit and new hiring. Dena Bank reported widening of its net loss to Rs 1,225.42 crore in the January-March quarter on mounting bad loans.
Federal Bank: The Federal Bank’s board has approved 26% strategic investment by homegrown private equity player True North in its wholly-owned subsidiary FedFina subject to statutory and regulatory approvals.
Future Consumer: Kishore Biyani-led Future Group’s value fashion format FBB plans to invest Rs 350 crore to open about 140 exclusive outlets as it aims to double turnover in the next two years, PTI reported.
UCO Bank: UCO Bank reported a nearly four-fold rise in its net loss to Rs 2,134.36 crore for the fourth quarter ended 31 March 2018.
Allahabad Bank: Allahabad Bank reported a standalone net loss of Rs 3,509.63 crore for the last quarter ended 31 March 2018 due to more than three-time rise in its provisions for bad loans.
Tata Global Beverages: Tata Global Beverages reported a 39.98% year-on-year rise in consolidated net profit to Rs 71.56 crore for January-March quarter.
Canara Bank: Canara Bank reported a net loss of Rs 4,859.77 crore for the last quarter of 2017-18 due to increased provisioning for bad loans.