Stocks in focus: The domestic equity markets are expected to start on a flat note on Monday tracking weak cues from the global markets. SGX Nifty futures were trading 60.50 points or 0.57% lower on the Singapore Exchange indicating a lower start for the Nifty 50. Asian stocks started the week gingerly amid worries about tense Sino-U.S. trade relations, said a Reuters report.
SBI, GAIL, Cipla: India’s largest bank State Bank of India, Power Grid Corporation Of India, GAIL and Cipla are the four Nifty companies that will come out with their quarterly corporate earnings today. Other companies which will declare their quarterly earnings today are Allcargo Logistics, Balkrishna Industries, Eveready Industries India, APL Apollo Tubes, Exide Industries, Himatsingka SeideBosch, Asahi India Glass, Orient Cement, PNB Housing Finance, Century Plyboards (India), Indraprastha Gas, Inox Wind and Natco Pharma.
Axis Bank: Axis Bank reported 83% rise in net income at Rs 790 crore for the September quarter aided by lower provisioning driven by better asset quality and higher interest income. Axis Bank had reported a huge dip in net profit at Rs 432 crore in the year-ago period on a jump in bad assets.
Also read: Share market LIVE updates! Sensex, Nifty likely to start flat tracking weak Asian peers; SBI, GAIL in focus
Strides Pharma Science: Strides has announced that its formulations facility in Bangalore recently underwent a USFDA inspection that ended on November 2, 2018. The inspection was completed successfully with Zero 483 observations, it said in a statement.
ONGC: State-owned Oil and Natural Gas Corp (ONGC) reported a 61% jump in its September quarter net profit as higher prices offset a dip in oil production.
Bharti Airtel: Airtel Africa, a subsidiary of telecom major Bharti Airtel, announced the appointment of its new board of directors, close on the heels of the USD 1.25 billion primary equity issuance to prominent global investors and ahead of an intended public offering, said a PTI report.
RCom: Debt-ridden Reliance Communications posted consolidated profit of Rs 1,141 crore in the second quarter ended September 30, 2018 on account of one-time gain from business structuring and non-provisioning of interest to be paid to lenders.
Reliance Industries: In a first for India, British banking major HSBC has executed a trade finance transaction
involving an export by Reliance Industries to an American client using the blockchain, which massively reduced the time taken for processing the documents, PTI reported.