India’s share markets are likely to open flat on Monday following the subdued trade activity in regional Asian markets with China’s Shanghai Composite Index slipping over 0.5% after China’s GDP growth in the second quarter of 2018 slowed to 6.7%. The early indicator of NSE Nifty, SGX Nifty Futures was trading flat, down 0.01% at 11,028.5 on the Singapore Exchange on Monday. Shares of FMCG giant HUL will be in a close watch today ahead of its Q1 FY19 results.
Infosys: India’s second-largest IT company approved a bonus issue of equity shares in a ratio 1:1 to celebrate 25 years of stock market listing while announcing the financial results for the quarter ended 30 June 2018.
PC Jeweller: The New Delhi-based jewellery maker PC Jeweller has cancelled its Rs 424 crore share buyback program. Bankers did not approve the proposal of Rs 424 crores of cash flowing out of the company and have not given the required NOC to the company for its buyback offer, PC Jeweller said in an exchange filing.
Tata Motors: Moody’s Investors Service has downgraded the corporate family rating on Tata Motors due to the weakening credit metrics at Jaguar Land Rover (JLR). Moody’s Investor Services has downgraded Tata Motors rating to Ba2 with a stable outlook from Ba1 rating earlier
IDBI Bank: LIC’s board is scheduled to meet today to finalise the acquisition of 51% stake in IDBI Bank, PTI reported citing unidentified sources.
RIL: The battle over lucrative pipelines supplying jet fuel to Mumbai airport is hotting up with a powerful formation of Reliance Industries and private airlines Jet Airways and Emirates trying to break the stranglehold of PSU oil firms BPCL and HPCL, a PTI report said.
DCB Bank: DCB Bank has reported a profit after tax of Rs 70 crore for the first quarter of the current fiscal.