Stocks in news today: IDBI Bank, ICICI Bank, RInfra, NHPC, Kotak Mahindra Bank, ONGC, Tata Motors, Hero Moto

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Published: August 2, 2018 8:18:06 AM

Indian share markets are likely to open flat on Thursday following the downbeat Wall Street after US Federal Reserve left the rates unchanged.

Stocks in news today: IDBI Bank, ICICI Bank, RInfra, NHPC, Kotak Mahindra Bank, ONGC, Tata Motors, Hero MotoCorp. (Image: Reuters)

Stocks in news today: Indian share markets are likely to open flat on Thursday following the downbeat Wall Street after US Federal Reserve left the rates unchanged. Most of the Asian stocks were trading marginally changed in the early session today. The early indicator of NSE Nifty, SGX Nifty Futures was trading slightly higher at 11,368.5 (up 0.09%) on the Singapore Exchange on Thursday. Earlier yesterday, Indian equity markets concluded on a negative note after the Reserve Bank of India (RBI) hiked the repo rates by 25 basis points to 6.5% with BSE Sensex tumbling 85 points and NSE Nifty closing below 11,350.

Stocks in news today, 2 August 2018, Thursday

IDBI Bank: The Cabinet has approved Life Insurance Corp’s proposed acquisition of up to 51% stake in debt-ridden IDBI Bank, with Finance Minister Piyush Goyal saying it would be an “excellent deal”, PTI reported.

ICICI Bank: The Reserve Bank of India has approved the appointment of Sandeep Bakhshi as the Chief Operating Officer with effect from 31 July 2018 for three years, ICICI Bank said.

Reliance Infrastructure: Reliance Infrastructure (RInfra) reported a 19% decline in its consolidated net profit to Rs 271.68 crore for the quarter ended 30 June.

NHPC: NTPC has not received any formal communication yet on government’s reported plans to sell its stake in hydropower producer NHPC to the state-run power utility to meet its disinvestment target for this fiscal year, PTI reported.

MCX: India’s capital market watchdog SEBI has granted recognition to a wholly-owned subsidiary of MCX, Multi Commodity Exchange Clearing Corporation for a period of one year.

Tata Motors: Tata Motors reported a 21.3% increase in domestic sales at 51,896 units in July as compared to 42,775 units in the same month last year.

Tata Global Beverages: Tata Global Beverages posted 6.55% decline in consolidated net profit at Rs 133.60 crore in the Apr-Jun quarter of FY19.

TCI Express: TCI Express reported a 33% rise in its net profit at Rs 16.12 crore for the April-June quarter this year.

ONGC: ONGC prefers to sell its entire 49% stake in Pawan Hans and exit the helicopter services provider simultaneously along with the government, PTI reported citing a written reply of Jayant Sinha, Minister of State for Civil Aviation.

Hero MotoCorp: Hero MotoCorp reported a 9% increase in sales to 6,79,862 units in July.

Kotak Mahindra Bank: Kotak Mahindra Bank will raise up to Rs 500 crore by issuing preference shares on a private placement basis.

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