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Top stocks to watch out for on August 1: Zee Entertainment, IDBI Bank, Ashok Leyland, Wipro

Updated : 2019-08-01 07:48:50

Indian shares are set to start August on a weak note, tracking sluggish Asian stocks, following US Federal Reserve chairman Jerome Powell's fresh comments on global slowdown, coupled with simmering US trade tensions. On Wednesday, the Fed suggested that policymakers were not embarking on a new cycle of rate-cutting after it trimmed interest rates by 25 basis points. At 7.30 AM, the SGX Nifty futures traded 50 points, or 0.45 percent, lower at 11,071, indicating a negative start for the Sensex and the Nifty 50. In the previous session, Indian benchmark indices ended higher, after two straight days of losses. Here are the top stocks to watch out for on August 1:

Zee Entertainment: Essel Group has sold an 11 percent stake in ZEE Entertainment Enterprises Ltd. (ZEEL) to Invesco Oppenheimer Developing Markets Fund in a deal worth Rs 4,224 crore on Wednesday, in a press release. (Image: Company)
Zee Entertainment: Essel Group has sold an 11 percent stake in ZEE Entertainment Enterprises Ltd. (ZEEL) to Invesco Oppenheimer Developing Markets Fund in a deal worth Rs 4,224 crore on Wednesday, in a press release. (Image: Company)
HDFC: The mortgage major on Wednesday announced reduction in retail loan pricing by 10 basis points across tenors and buckets of loans, both for new as well as existing borrowers, effective Thursday. For home loans up to Rs 30 lakh, the financier is offering 8.60 percent now. For women borrowers, the new rate is 8.55 percent, the largest mortgage lender said in a statement, adding the rate reduction will be applicable to existing borrowers as well. (Image: Company)
HDFC: The mortgage major on Wednesday announced reduction in retail loan pricing by 10 basis points across tenors and buckets of loans, both for new as well as existing borrowers, effective Thursday. For home loans up to Rs 30 lakh, the financier is offering 8.60 percent now. For women borrowers, the new rate is 8.55 percent, the largest mortgage lender said in a statement, adding the rate reduction will be applicable to existing borrowers as well. (Image: Company)
IDBI Bank: The bank clarified that it has no exposure in Coffee Day Enterprise, adding that the group’s trustee arm is not a lender to an entity but acts as a security trustee. (Image: Stock)
IDBI Bank: The bank clarified that it has no exposure in Coffee Day Enterprise, adding that the group’s trustee arm is not a lender to an entity but acts as a security trustee. (Image: Stock)
Bosch: Auto component major Bosch on Wednesday said it will suspend all manufacturing operations at its Bidadi plant in Karnataka for three days from August 1.<br />The company, in a regulatory filing, said it has decided to shut manufacturing at the plant for three days in order to adjust production to meet the demand for products and to avoid the unnecessary buildup of inventory. (Image: Reuters)
Bosch: Auto component major Bosch on Wednesday said it will suspend all manufacturing operations at its Bidadi plant in Karnataka for three days from August 1.
The company, in a regulatory filing, said it has decided to shut manufacturing at the plant for three days in order to adjust production to meet the demand for products and to avoid the unnecessary buildup of inventory. (Image: Reuters)
Eicher Motors on Wednesday reported a 21.52 percent decline in its consolidated profit after tax (PAT) at Rs 452 crore for the first quarter ended on June 30, 2019. In the commercial vehicle industry, sales have been low due to the weak demand on account of economic slowdown and liquidity and it is also witnessing heavy discounting, Eicher Motors Ltd Managing Director Siddhartha Lal said. (Image: Company)
Eicher Motors on Wednesday reported a 21.52 percent decline in its consolidated profit after tax (PAT) at Rs 452 crore for the first quarter ended on June 30, 2019. In the commercial vehicle industry, sales have been low due to the weak demand on account of economic slowdown and liquidity and it is also witnessing heavy discounting, Eicher Motors Ltd Managing Director Siddhartha Lal said. (Image: Company)
Punjab National Bank: The bank has reduced MCLR by 10 basis points across various tenors with effect from August 1. The one-month MCLR is set at 7.95 percent while one-year MCLR is set at 8.3 percent. (Image: Reuters)
Punjab National Bank: The bank has reduced MCLR by 10 basis points across various tenors with effect from August 1. The one-month MCLR is set at 7.95 percent while one-year MCLR is set at 8.3 percent. (Image: Reuters)
Wipro: The IT company said it has got final comments from SEBI and will issue share buyback of up to 32,30,76,923 fully paid-up equity shares of the company of the face value of Rs.2 each at a price of Rs. 325 per equity share in the period of August 14-28. (Image: Reuters)
Wipro: The IT company said it has got final comments from SEBI and will issue share buyback of up to 32,30,76,923 fully paid-up equity shares of the company of the face value of Rs.2 each at a price of Rs. 325 per equity share in the period of August 14-28. (Image: Reuters)
GMR Infrastructure: The company will consider raising up to Rs 27,300 crore via equity, debt. (Image: Reuters)
GMR Infrastructure: The company will consider raising up to Rs 27,300 crore via equity, debt. (Image: Reuters)
Ashok Leyland: Commercial vehicle major Ashok Leyland posted a 44 percent dip in consolidated profit at Rs 247 crore in the first quarter of current fiscal. The board of directors of Ashok Leyland also approved raising of Rs 600 crore via issue of securities. (Image: Company)
Ashok Leyland: Commercial vehicle major Ashok Leyland posted a 44 percent dip in consolidated profit at Rs 247 crore in the first quarter of current fiscal. The board of directors of Ashok Leyland also approved raising of Rs 600 crore via issue of securities. (Image: Company)
Tata Global Beverages: Tata Global Beverages Ltd (TGBL) on Wednesday posted a 10.56 per cent increase in its consolidated net profit to Rs 141.68 crore during the first quarter of 2019-20, on the back of strong sales. (Image: Company)
Tata Global Beverages: Tata Global Beverages Ltd (TGBL) on Wednesday posted a 10.56 per cent increase in its consolidated net profit to Rs 141.68 crore during the first quarter of 2019-20, on the back of strong sales. (Image: Company)
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