The domestic equity markets opened on a flat note on Friday but quickly slipped into the negative territory following weak Asian cues. The Sensex of the BSE slipped over 100 points to a low of 37,918.35 points in early trade. The NSE Nifty 50 index fell nearly 30 points to hit a low of 11,441.65 points. According to a Reuters report, Asian stock markets fell on Friday amid heightened global trade tensions, while currency markets were whipsawed by a searing selloff in Russia’s rouble after the United States slapped on new sanctions, and as economic worries sent the Turkish lira tumbling.
Stocks in news today: These stocks will be in focus on August 10, 2018
SBI, GAIL, PC Jeweller: These companies are slated to report their quarterly results today — SBI, GAIL, PC Jeweller, UCO Bank, United Bank, Andhra Bank, Max India, Voltas, Sun TV, Apollo Hospitals, Bosch, DLF, Glenmark, NHPC, Prabhat Dairy, Technocraft Industries (India), and NCC among others.
Jet Airways: Jet Airways deferred announcing the June quarter numbers to an unspecified late date. In a BSE filing late in the evening, the Naresh Goyal-run airline, which had its AGM in earlier in the day, said the board of directors decided not to review the unaudited financial performance for the June quarter.
Vedanta: The National Green Tribunal (NGT) has allowed mining major Vedanta to access the administrative unit inside its Sterlite copper plant at Thoothukudi in Tamil Nadu, a PTI report said. A bench headed by chairperson A K Goel, however, said the company would not have access to its production unit and directed the district magistrate to ensure this.
Bhushan Steel: Bhushan Steel Ltd reported a standalone net profit of Rs 2,104.3 crore for the June 2018 quarter as against a net loss of Rs 1,486.13 crore in the year-ago period. The company reported total revenue from operations at Rs 4,623.6 crore in the June 2018 quarter as compared to Rs 4,176.12 crore in the April-June 2017 quarter, it said in a BSE filing.
Cummins India: The company reported 17.56% decline in its net profit at Rs 183 crore for the first quarter ended June 30. Sales of the company stood at Rs 1,296.49 crore for the first quarter ended June 30.
PNB Housing Finance: PNB Housing Finance reported 50% jump in its net profit at Rs 255.80 crore in first quarter of the current fiscal on healthy loan disbursements.
GMR Infrastructure: The company’s board will consider a proposal for raising up to Rs 2,950 crore through various routes at its meeting on August 14. In a BSE filing, GMR Infrastructure said it will seek Board approval for raising up to Rs 2,500 crore in one or more tranches through issue of equity shares or equity-linked instruments, debentures or any other securities.
Tata Communications: Tata Communications today reported a loss of Rs 57.95 crore for the quarter ended June 2018, against a net profit of Rs 32.94 crore in the year ago period. The losses, however, narrowed on a sequential basis as compared to Rs 120.47 crore in the quarter ended March 2018.
Aurobindo Pharma: The drug firm posted a 12.10% decline in its consolidated net profit to Rs 455.59 crore for the first quarter ended June 30, mainly on account of rise in expenses.