Indian shares are set for a weak start on Monday amid worries about tense China-US trade relations ahead of the meeting between the leaders of the world’s two biggest economies later this month.
Investor sentiments will also weigh on Dhanteras, a gold buying festival in India, ahead of the festival of Diwali. India is the top buyer of gold in the world.
At 07.10 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was down 0.36 percent to 10,550.50, indicating a weak opening for the Indian market today.
Here are the top stocks to watch out for in today's trade:
State Bank of India: SBI has put up 11 non-performing assets (NPAs) for sale to Asset Reconstruction Companies (ARCs) and financial companies to recover dues of nearly Rs 1,019 crore. The bank said the eauction of these NPAs accounts will take place on November 22.
Reliance Communications: Debt-ridden RCom 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.
Indian Oil Corporation: India's top refiner Indian Oil Corp Ltd said on Friday the United States might allow the country to keep buying oil from sanctions-hit Tehran as removing Iranian supplies from the market would impact global crude prices.
DLF: Realty major DLF has agreed to sell 49 percent stake in its upcoming commercial project at Gurugram to US-based Hines for about Rs 900 crore and the deal is expected to be concluded by December, sources told PTI.
Jyothy Laboratories: Homegrown FMCG firm Jyothy Laboratories is aiming to more than double its turnover to Rs 4,000 crore in the next three years on the back of both acquisitions as well as organic growth, a top company official said.
Adani Transmission: Power firm Adani Transmission has signed an agreement to buy entire stake in KEC International's Rajasthan-based power transmission arm at an enterprise value of Rs 227.5 crore.
Strides Pharma: The company, in an exchange filing, said the completion of the US Food and Drug Administration (FDA) inspection at its facility in Bengaluru and received a Zero 483 status from the regulator.
IL&FS Transport Network: Mukund Sapre submitted his resignation as the executive director of the company effective November 2, 2018.
Bharti Airtel: The company, in an exchange filing, announced the appointment of its board of directors for its Africa unit. The company said the formation of the board follows the recent primary equity issuance of $1.25 billion in its Africa unit ahead of an intended IPO in the international stock market.
Axis Bank: Private lender Axis Bank on Friday reported a 83 percent year-on-year jump in net profit at Rs 789.6 crore in the second quarter ended September 2018, boosted by higher interest income and as asset quality improved.
Results on Monday: SBI, Cipla, GAIL, Power Grid, IGL, BOSCH Ltd, Fortis Healthcare, Inox Wind, NATCO Pharma, Exide Industries, Balkrishna Industries, Allcargo, Aegis, APL Apollo Tubes, Asahi India, Century Plyboard, Eveready Industries, Godrej Agrovet, Hinmatsingka, KIOCL, Minda Industries, Orient Cement, The Phoniex mills, PNB Housing, Sheela foam, Timken India, Venky's, Wabco, Sadbhav InfraAndhra Petrochemcials, Astron Paper, Atul Auto, Kitex garment, Ganesh Benzoplast, Majesco Ltd, Munjal Auto, NDTV, PSP Projects, RPG Lifesciences, Sandhar Technologies.
(With inputs from agencies)
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