The domestic equity markets opened in the negative territory on Thursday, with the Sensex of the BSE slipping over 200 points to a low of 37,644.97 points in early trade. The Nifty 50 index of the National Stock Exchange fell 58 points to 11,376.95 points in early morning deals. Weak cues from the Asian markets, along with heavy selling pressure in index heavyweights like Kotak Bank, Vedanta, HDFC, Tata Steel, Adani Ports and Yes Bank among other stocks, pulled the benchmark indices lower, said market observers.
Stocks in news today: These stocks will be in focus on August 16, 2018:
Kotak Bank: The Reserve Bank of India said the recent stake dilution by Kotak Mahindra Bank founder Uday Kotak does not meet its regulatory norms on the same. Kotak had sold a part of his stake in the lender on August 2, bringing down his personal holding to under 20% by issuing perpetual non-cumulative preference shares (PNCPS).
Fortis Healthcare: Fortis Healthcare on Thursday said its shareholders have given nod to the company’s acquisition by Malaysia’s IHH Healthcare. According to a PTI report, the shareholders of Fortis Healthcare have by an overwhelming majority of 99.69% voted in favour of issuance of equity shares on a preferential allotment basis.
Reliance Industries: RIL has undertaken a short shutdown of one of the units at its Jamnagar facility to ‘assure reliability and integrity’ of operations. In a regulatory filing, RIL said it “has taken short shutdown of one of the Fluid Catalytic Cracking Units (FCCU) at Jamnagar complex to assure reliability and integrity of operations”.
GMR Infrastructure: GMR Infra reported widening of net loss at Rs 235.14 crore in the first quarter ended June 30, 2018. In a regulatory filing to the BSE, the company said its board has approved raising a total fund of up to Rs 2,950 crore through issue of shares or equity linked instrument and optionally convertible debentures.
SpiceJet: The airline reported a net loss of Rs 38.06 crore in June quarter on a one-time provisioning of Rs 63.5 crore, higher fuel cost and weak rupee. Its net income rose 20 per cent to 2,277.80 crore in the reporting quarter, compared with Rs 1,886.30 crore in the year-ago period, the airline said.
Grasim Industries: Aditya Birla Group firm Grasim Industries reported consolidated net profit of Rs 1,399.51 crore for the first quarter ended June 30, 2018-19.