Maruti Suzuki, Fortis Healthcare among top five stocks in focus today
Tata Steel: As part of the restructuring process of its loss-making European operations, Tata Steel has recently signed a definitive agreement (non-cash deal) with thyssenkrupp AG (tk) to form a 50:50 joint venture (JV).
The Sensex and Nifty are expected to open higher on Monday tracking positive trend seen in Asian markets, which crept higher following favourable U.S. jobs data that suggests US Federal Reserve can stay gradual on hikes, while sterling slipped after two members of the British government resigned over Brexit and put the future of Prime Minister Theresa May in doubt.
At 7:55 am, SGX Nifty was trading at 10,836.50, up 70.50 points or 0.65 per cent.
MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.2 percent, on top of 0.7 percent rally on Friday when the launch of U.S. tariffs on Chinese imports came and went without too many fireworks.
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Here are key stocks that are in news today:
Tata Steel: As part of the restructuring process of its loss-making European operations, Tata Steel has recently signed a definitive agreement (non-cash deal) with thyssenkrupp AG (tk) to form a 50:50 joint venture (JV). The JV combines the flat steel businesses of both companies to form Europe’s second-largest flat steel company (behind Arcelor Mittal), with expected 21.3 million tonnes of shipments.
Fortis Healthcare: Delhi-headquartered hospital major Fortis Healthcare on Saturday released its audited results for the fourth quarter and financial year 2017-18, which were largely in line with the unaudited numbers announced last week. However, auditor Deloitte Haskins & Sells raised several red flags, including with regard to additional related party transactions.
Maruti Suzuki: Maruti Suzuki India has achieved production of 1,32,616 units in month of June 2018 compared to 118,667 units in month of June 2017. Meanwhile, the company reported correction in production reported for May 2018 and May 2017. Total production for May 2017 is 151,262 (reported was 151,266) and for May 2018 is 184,612 (reported was 184,608) units.
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IndiGo: Budget carriers IndiGo and GoAir have together inducted eight Airbus A320 Neo planes in their fleet since the resumption of deliveries, which was halted due to the Pratt & Whitney engine issues, according to a source. Both IndiGo and GoAir have taken deliveries of four aircraft each between May and June, the source said.
Bank of India: United Bank of India is expecting to recover around Rs 3,000 crore out of a total of Rs 5,951 crore, by way of resolutions through the National Company Law Tribunal (NCLT), the public sector lender's MD and CEO Pawan Bajaj said on Friday. Altogether 40 cases were referred to the NCLT of which Rs 580 crore had already been recovered by the bank, Bajaj told shareholders at the annual general meeting here.