homemarket Newsstocks NewsTop stocks to watch out for on August 8: Textile companies, PNB Housing Finance, Mphasis
Top stocks to watch out for on August 8: Textile companies, PNB Housing Finance, Mphasis
Domestic equity markets are expected to track positive global cues on Wednesday although US-China trade conflict may keep overall investor sentiment in check.
Domestic equity markets are expected to track positive global cues on Wednesday although US-China trade conflict may keep overall investor sentiment in check.
The Singapore-traded SGX Nifty was trading at levels around 11,430 Vs Nifty August Future's Tuesday close of 11,418, indicating a positive opening on Dalal Street today.
These are the stocks making the biggest moves premarket:
Textile, fashion brands: The Modi government doubled the import tax on more than 300 textile products to 20 percent on Tuesday as India, the world’s biggest producer of cotton, tries to curb rising imports from China. It was the second tax hike on textiles in as many months after an increase on other products including fiber and apparels last month. The move is likely to provide relief to the domestic textile industry, which has been hit by cheaper imports.
PNB: The public sector bank reported a June quarter loss of Rs 940 crore, against a profit of Rs 343 crore a year ago.
Mphasis: The IT services firm's Q1 consolidated net profit increased 8.7 percent to Rs 258.3 crore versus Rs 237.6 crore; revenue rose 4.3 percent to Rs 1,820.2 crore versus Rs 1,744.5 crore (QoQ).
June quarter results: BPCL, Cipla, HPCL, Lupin, Siemens India, NMDC, Indian Bank, NACLO, BEML, Strides Shasun, Balrampur Chini, PNB Housing Finance, among others will announce their first quarter results.
PNB Housing Finance: Punjab National Bank expects to complete the stake sale in its mortgage lending arm, PNB Housing Finance, by the end of the financial year. It is also planning to list its insurance venture, PNB Metlife, on the bourses.
GAIL India: The Gujarat high court dismissed the petitions filed by the state Sales Tax Department which has raised a demand of Rs 3,449.18 crore and interest there on of Rs 1,513. 04 crore in respect of Hazira unit in Gujarat, treating the transfer of natural gas from the state to other states, as inter-state sales, during the period from April 1994 to March 2001, Moneycontrol reported.
Telecom, ISP stocks: The Centre has written to telecom operators and internet service providers seeking ways to block social media apps during emergencies. Experts and industry insiders say the move is not enforceable and violates the right to freedom of speech.
Power sector stocks: The parliamentary panel on energy blamed the RBI's revised resolution framework for the surge in stressed assets in the power sector. The panel has recommended harmonisation and simplification of resolution norms.
Dilip Buildcon: The consortium emerged as the lowest bidder in Coal Block in Punjab for Rs 32,156 core. Contract period of Pachwara Central Coal Block in Punjab is for 55 years. Dilip Buildcon holds 74 percent stake in JV that has bagged the Punjab project.
GOCL Corporation: The company has received order from Singareni Collieries Company Ltd, a PSU of Telangana state, worth Rs 203.09 crore for supply of explosives and accessories over a period of 2 years, Moneycontrol reported.
First Published: Aug 8, 2018 7:57 AM IST
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