Top 5 stocks in focus on August 27: Jet Airways, Reliance Naval to Public Sector Banks, here are 5 newsmakers of the day
Indian domestic stock markets closed in the red mark on Friday. However, there were certain stocks that came in the news after the market was closed for trading on the day and can have an impact on the market on August 27, 2018.
Indian domestic stock markets closed in the red mark on Friday. However, there were certain stocks that came in the news after the market was closed for trading on the day and can have an impact on the market on August 27, 2018. Here is the list of such five stocks:
Jet Airways: The airliner, which earlier on August 27 deferred announcing its June quarter (Q1) results, may announce it today during the meet that will be attended by founder and chairman Naresh Goyal and other directors. The board is meeting today to discuss cost-cutting steps and ways to turn around the airline in the face of financial woes.
LIC Housing Finance: The company has reported 18.4 per cent surge in its standalone net profit to Rs 567.94 crore for the first quarter ended on June 30. Its net profit was Rs 479.65 crore in the same quarter of 2017-18. In addition, its total income in the quarter went up to Rs 4,050.95 crore from Rs 3,648.24 crore in the year-ago period.
Reliance Naval and Engineering Limited: Anil Ambani has resigned as the Director of Reliance Naval and Engineering Ltd (RNAVAL), a company official said on Saturday. As per an official statement from company secretary, Paresh Rathod, Ambani resigned to comply with provisions of Section 165 of the Companies Act, 2013, prescribing the limit on directorships to only 10 public companies.
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Jewellery shares: Niti Aayog, government's think tank, has suggested the government to bring down import duty on gold from the existing level of 10 per cent and also slash the GST rate on the precious metal from the current 3 per cent. In its recommendation, the think tank has also advised the government to review and revamp the gold monetisation scheme and the sovereign gold bond scheme. It has asked to introduce new gold savings account in banks besides setting up of a gold board and bullion exchanges across the country to have greater financialisation of the yellow metal.
Public Sector Banks (PSBs): According to reports PSBs like State Bank of India, Bank of India and Bank of Baroda among others have decided to close or rationalise 70 overseas operations in the ongoing financial year.