Infosys, PC Jeweller among top five stocks in focus today
Asian markets brushed off the firmer Wall Street lead as investor caution dominated ahead of the release of key Chinese economic data, which is expected to show signs of a slowdown.
The Sensex and Nifty are expected to opwn lower on Monday tracking negative trend in Asian markets, which brushed off the firmer Wall Street lead as investor caution dominated ahead of the release of key Chinese economic data, which is expected to show signs of a slowdown.
At 8:00 am, SGX Nifty was trading at 11,024.50, down 4.50 points or 0.04 per cent.
Back home, quarterly earnings from blue chips such as Hindustan Unilever and Kotak Mahindra Bank, inflation data, trend in crude oil prices and global cues will be key determinants for the stock market movement this week.
Here are key stocks that are in focus today:
Infosys: Infosys, country's second largest services firm, reported Q1FY19 results on Friday that remained below Street expectations. The IT giant reported Rs 3,613 crore consolidated net profit for the first quarter of fiscal 2018-19, registering a 3.7 per cent annual growth from Rs 3,483 crore in the same period year ago. Sequentially, however, net profit declined 2.1 per cent from Rs 3,690 crore a quarter ago.
Bajaj Corp: Bajaj Corp reported net sales of Rs 222.58 crore for the June quarter as compared to Rs 208.49 crore reported in the same quarter a year ago. The company's net profit came in at Rs 53.76 crore in Q1FY19 as against Rs 54.97 crore reported in Q1FY18.
ICICI Bank: Reports say ICICI Bank has launched a second external probe to examine allegations of irregularities in 31 loan accounts raised by a third whistleblower complaint.
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PC Jeweller: PC Jeweller’s board has decided to withdraw its buyback offer with immediate effect. The filing on BSE mentioned that the board has withdrawn the buyback because of non-receipt of the requisite NOC from the company's bankers. Earlier, PC Jeweller’s board at its meeting held on May 10, 2018 had approved the buyback of 1 crore fully paid-up equity shares.
Minda Industries: Auto ancillary company, Minda Industries has acquired an 80 per cent stake in German’s iSYS RTS GmbH (iSYS), a company engaged in systems engineering, development of hardware and software with product and services offering in embedded systems, Electronic Control Unit ('ECUs' or 'controllers').