Indian stock markets are likely to open higher on Friday following a considerable upsurge in the US equity markets with Dow Industrials surging as much as 294 points.
Indian stock markets are likely to open higher on Friday following a considerable upsurge in the US equity markets with Dow Industrials surging as much as 294 points. The early indicator of NSE Nifty, SGX Nifty Futures was trading little changed, up 0.08% at 10,476.5 on Singapore Exchange on Friday. Among the major corporate earnings, India’s second-largest IT company Infosys is all set to announce its financial results for the quarter and year ended 31 March 2018 today.
These stocks will be in focus today
Vedanta: Vedanta Resources will invest $700 million in Zambian subsidiary Konkola Copper Mines (KCM) to increase production level to 400,000 tonnes per annum.
Bank of India: The Securities Appellate Tribunal reduced the fine imposed on depository participant Bank of India shareholding to Rs 6 lakh from Rs 40 lakh.
Fortis Healthcare: Fortis Healthcare has received an “unsolicited binding offer” from Hero Enterprise Investment Office and Burman Family Office to invest Rs 1,250 crore in the company through preferential allotment route.
ITI: ITI Ltd posted a profit for the first time after 16 years in the third quarter of 2017-18. The telecom equipment manufacturer posted a higher turnover at Rs 1,701 crore in 2017-18 as compared to Rs 1,621 crore in the previous fiscal. The company reported a net profit of Rs 27 crore in the third quarter of 2017-18 without any grants.
Kotak Mahindra Bank: Launch of payments banks and small finance banks has not impacted private sector lender
Kotak Mahindra Bank (KMB), PTI reported citing Ambuj Chandna, head of retail liabilities, investment and payment products.
NMDC: NMDC posted a record production and sales for the financial year 2017-18 at 35.50 MT and 36.1 MT, respectively.
HCL Technologies: HCL Technologies and Sumeru Equity Partners (SEP) will acquire US-based Actian Corporation in a USD 330-million all-cash deal.
The Indian rupee on Thursday: The rupee recovered from its five-month low and closed up 5 paise at 65.26 against the US dollar.
Indian stock markets on Thursday
Indian stock markets ended higher with the key equity indices Sensex and Nifty finishing in the positive territory for the sixth straight session on Thursday. Shares of IT companies such as IT giants Tata Consultancy Services, Infosys, Tech Mahindra, HCL Tech surged heavily ahead of the financial results of Infosys for the quarter and the year ended 31 March 2018. BSE Sensex added 160.69 points or 0.47% to finish the day at 34101.13 whereas NSE Nifty concluded at 10,458.65, up by 41.5 points or 0.4%. During the day, the benchmark Sensex shuttled between the range of 34,177.44 and 33,924.88 on Thursday.