Indian shares are likely to open higher on Tuesday, extending gains from last week, amid expectations the government will address tax concerns and announce steps to revive economic growth. Meanwhile, Asian shares traded lower due to the weak sentiment arising from the US-China trade war and turbulence amongst protesters in Hong Kong. At 07:05 AM, the SGX Nifty futures traded 0.23 percent higher at 11,116, indicating a positive start for the Sensex and the Nifty 50. Indian financial markets were shut on Monday for a public holiday. Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Reliance Industries: At its 42nd AGM, the company announced that the Saudi Aramco will acquire a 20 percent stake in the oil-to-chemical business with an enterprise value of $75 billion; JioFiber commercial services will be launched on September 5. (Image: Reuters)
Jet Airways: A day after CNBC-TV18 reported billionaire Anil Agarwal's intention to acquire a stake in now-defunct Jet Airways, the businessman has made it clear he doesn't intend to pursue the deal. In a statement, Agarwal said, "The EOI for Jet Airways by Volcan was exploratory in nature. On further evaluation and considering other priorities, we intend to not pursue this further." (Image: Reuters)
DHFL: Troubled mortgage lender Dewan Housing Finance (DHFL) has sought Rs 15,000-crore immediate funding from banks for on-lending to retail customers as well as to project developers, say sources. Last week, the nearly crippled company had submitted a draft resolution plan to lenders which are yet to be approved by them. (Image: Reuters)
Bank of India: The lender told CNBC-TV18 that it is cutting its lending rates by 25 bps and margins will be negatively impacted due to the reduction in lending rate. (Image: Stock)
Tata Motors: JLR July retail sales rose 5 percent to 37,945 units, Jaguar sales increased 3.6 percent to 11,386 units and Land Rover sales rose 5.6 percent to 26,559 units YoY. China sales saw a recovery in July. S&P took the company off credit watch, saying Tata Motors' outlook is negative on cash outflows, Brexit. (Image: Reuters)
Torrent Pharma: The company has received a communication from the USFDA classifying the inspection conducted at its Indrad facility in April 2019 as Official Action Initiated. (Image: Company)
JSW Steel: Crude steel production down 4 percent to 13.17 lakh tonnes against 13.78 lakh tonnes YoY. (Image: Reuters)
Motherson Sumi: Q1: Consolidated profit falls 25.2 percent to Rs 331.5 crore versus Rs 443.1 crore, revenue rises 13.7 percent to Rs 16,792.5 crore versus Rs 14,775.5 crore YoY. (Image: Reuters)
Oil Companies: BPCL Q1: Profit falls 65.6 percent to Rs 1,075 crore versus Rs 3,124.9 crore, revenue rises 3.1 percent to Rs 76,318 crore versus Rs 73,990 crore QoQ. Oil India Q1: Consolidated profit at Rs 847.2 crore against loss of Rs 70.6 crore, revenue rises 9.2 percent to Rs 3,380.9 crore versus Rs 3,097.3 crore QoQ. (Image: Reuters)
Muthoot Finance: Muthoot Finance on Monday reported a rise of 9 percent in consolidated net profit at Rs 563 crore for the quarter ended June 30, 2019.
The company's net profit in the year-ago period stood at Rs 518 crore. (Image: Company)