Stocks in news today: The domestic equity markets are expected to open in the green on Monday following positive global cues. Infosys, Gitanjali Gems, Amtek Auto, PVR to be top shares in focus today
The domestic equity markets are expected to open in the green on Monday following positive global cues. Asian share markets crept cautiously higher on Monday as investors awaited developments on proposed Sino-U.S. trade talks and the Chinese yuan rallied away from dangerous lows, said a Reuters report. Last week, the S&P BSE Sensex ended higher by 284.32 points or 0.75% at 37,947.88. The broader Nifty 50 index settled at a fresh high of 11,470.75 points — up 85.70 points or 0.75%.
Stocks in news today: These shares will be in focus on August 20, 2018
Infosys: The IT major on Saturday said its board had accepted the resignation of Chief Financial Officer (CFO) M.D. Ranganath. He had been appointed as the CFO of India’s second-biggest software services exporter in 2015.
Gitanjali Gems, Amtek Auto: Leading exchanges BSE and NSE will suspend trading in shares of as many as nine firms, including banking fraud accused Mehul Choksi’s Gitanjali Gems and others like Amtek Auto, Easun Reyrolle, Panoramic Universal, Thambbi Modern Spinning Mills, Indo Pacific Projects, Haryana Financial Corporation, Noble Polymers and Samruddhi Realty, from September 10 for not complying with listing norms pertaining to submission of financial results.
PVR: Multiplex operator PVR it has completed the acquisition of 71.69% share of South India-based chain SPI Cinemas, said a PTI report. SPI Cinemas operates 76 screens across 17 properties in 10 cities under several brands such as Sathyam, Escape, Palazzo, The Cinema and S2 Cinema. It reported revenue of Rs 309.6 crore in FY 2017-18.
Vedanta: Vedanta Limited has said it will be investing USD 2.3 billion towards capex on its oil and gas activities in the ‘near term’ to increase the reserve base by around 375 million barrels, according to a PTI report.
ONGC: State-owned Oil and Natural Gas Corp (ONGC) will not sell its stake in IOC and GAIL in the near future as it has used internal resources to repay close to a third of the Rs 24,881 crore loan it had taken to buy Hindustan Petroleum Corp Ltd (HPCL), PTI reported citing people with direct knowledge of the matter.