Shares in focus today: ICICI Bank, Suzlon, Axis Bank, PNB, TCS, Idea, Bharti Infratel, HDFC Bank

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Published: April 23, 2018 9:12:27 AM

Indian stock markets are likely to open lower on Monday following the dips in the US stock market on the back of subdued corporate earnings with Dow Industrials falling about 202 points on Friday last week.

The early indicator of NSE Nifty, SGX Nifty Futures was trading down 0.59% at 10,574 on the Singapore Exchange on Monday. (Image: Wikimedia Commons)

Indian stock markets are likely to open lower on Monday following the dips in the US stock market on the back of subdued corporate earnings with Dow Industrials falling about 202 points on Friday last week. The early indicator of NSE Nifty, SGX Nifty Futures was trading down 0.59% at 10,574 on the Singapore Exchange on Monday. Shares of Bharti InfratelBharat Financial Inclusion, LIC Housing Finance and Reliance Infrastructure will be in close watch along with the scrips of Cholamandalam Investment, Delta Corp, GNFC, Indiabulls Ventures, Reliance Naval And Engineering, 3i Infotech, Foseco India, Kewal Kiran Clothing and Swaraj Engines as these companies are set to release the fourth-quarter report card later today.

TCS: TCS is betting big on its ‘Business 4.0’ strategy to propel its revenues from new age-technologies like automation, cloud and Internet of Things (IoT) to over $5 billion this year, PTI reported.

PNBPunjab National Bank has raised heat by approaching Hong Kong Court against billionaire jeweller Nirav Modi, the prime accused in Rs 13,000-crore fraud, PTI reported.

ICICI Bank: SEBI is mulling getting a forensic examination done on financial statements and disclosures made by ICICI Bank in last few years amid a controversy over alleged conflict of interest involving the lender’s CEO Chanda Kochhar and her husband, PTI reported citing unidentified officials.

Idea CellularIdea Cellular Ltd’s proposal to allow up to 100% foreign direct investment in the company is under consideration of the Department of Industrial Policy and Promotion (DIPP), PTI reported citing an unidentified official.

HDFC BankHDFC Bank posted 20.3% rise in the standalone net profit to Rs 4,799.3 crore for the quarter ended on 31 March 2018, on a yearly basis. HDFC Bank board has also approved raising up to Rs 50,000 crore through private placement of perpetual debt instruments in the next 12 months.

Suzlon: SEBI had slapped a fine of more than Rs 1 crore on wind turbine maker Suzlon Energy for violating listing agreement norms, PTI said in a report.

Indiabulls Housing FinanceIndiabulls Housing Finance today reported a 23% jump in its net profit at Rs 1,030 crore in the quarter ended March, helped by higher loan growth and lower expenses.

Axis BankAxis Bank has started the process to select a new MD & CEO as the incumbent Shikha Sharma is scheduled to leave the office in December 2018. “This is to inform you that the Board of Directors of the Bank has commenced the succession process to appoint a new Managing Director & CEO of the Bank,” Axis Bank said in an exchange filing.

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