Indian shares are likely to open higher on Wednesday supported by a rally in global stock markets and after retail inflation data boosted chances of a rate cut. Asian shares advanced after the US delayed tariffs on some Chinese imports. At 7.10 AM, the SGX Nifty futures traded 38 points, or 0.35 percent, higher at 10,958.50, indicating a positive start for the Sensex and the Nifty.
Future Retail: American e-commerce giant Amazon is in the advanced stage of discussions with Future Retail Ltd for picking up 8-10 percent stake in the Indian retail chain, sources told PTI newswire. The deal with the Kishore Biyani-led company is expected to close in the next few weeks, sources close to the development said. (Image: Reuters)
Infosys: IT services major Infosys on Tuesday said it has been selected by Toyota Material Handling North America (TMHNA) for providing cloud-based telematics product.
As the development partner for TMHNA Global Telematics Solution (GTS), Infosys will enable remote monitoring and diagnostic capabilities including vehicle access control, system maintenance, condition sensing and location tracking, a statement said. (Image: Reuters)
JSW Energy: Sajjan Jindal-led JSW Energy on Tuesday said it has received shareholders' approval to raise around $750 million (over Rs 5,000 crore) from the international bond sale, which would be used to fund expansion plans and repay some of its existing debt of over Rs 10,050 crore. The JSW Energy had sought shareholders' approval raising $750 million of long-term debt by selling non-convertible foreign currency denominated bonds or masala bonds. (Image: Company)
Pidilite: Adhesives firm Pidilite Industries on Tuesday said it has formed two joint ventures with Italy-based epoxy grout maker Litokol and Spanish mortar company Grupo Puma. The joint venture with Litokol will invest in a new manufacturing facility in India and service the key markets of SAARC (excluding Pakistan) and Myanmar, said a statement. Litokol will transfer the technology to the JV, while Pidilite will have exclusive distribution of the products, it added. (Image: Company)
Coal India: State-owned CIL on Tuesday reported a 22.2 percent increase in consolidated profit at Rs 4,629.87 crore for the quarter ended June 30, mainly on higher income. The company had posted a consolidated profit of Rs 3,786.44 crore in the year-ago period, Coal India Ltd (CIL) said in a filing to the BSE. CIL accounts for over 80 percent of domestic coal output. (Image: Reuters)
Glenmark Pharma: Glenmark Pharmaceuticals on Tuesday reported a consolidated net profit of Rs 109.28 crore for the first quarter ended June 30, 2019. The company had posted a net profit of Rs 232.99 crore in the same period of previous fiscal. The Mumbai-based drug firm said the figures are not comparable as the last financial year included one-time forex gain of Rs 138.21 crore. (Image: Company)
Wipro: The company announced that it has launched artificial intelligence (Al) starter solutions powered by lntel Xeon Scalable processors. These starter solutions will help enterprises in the Energy & Utilities and Healthcare markets jump-start their Al adoption. Wipro will leverage lntel's Al technology to maximize the performance of the Wipro Al solutions when running on lntel Xeon Scalable processors. (Image: Reuters)
CEAT: Company has entered into an Addendum Agreement to the existing Share Subscription and Shareholders' Agreement with Tyresnmore and other parties, for making a further investment of up to Rs. 3CR With this investment, the total holding of CEAT Limited in Tyresnmore on a fully diluted basis will be 37.49 percent. (Image: Reuters)
M&M: India Ratings and Research (Ind-Ra) has re-affirmed Mahindra & Mahindra Limited's (M&M) Long-Term Issuer/Instrument Rating at 'IND AAA'. The Outlook is Stable. (Image: Reuters)
Results today: Grasim Industries, IDBI Bank, Wockhardt, Jindal Steel & Power, Indiabulls Real Estate, General Insurance Corporation of India, GMR Infrastructure, IDFC, Deepak Fertilizers, Suzlon Energy, Jain Irrigation Systems, IIFL Finance, Sadbhav Engineering. (Image: Reuters)