Many companies are scheduled to announce their results today:- Arvind Ltd, Ashok Leyland Ltd, Indian Energy Exchange Ltd, Bharat Forge Ltd, Petronet LNG Ltd, Thermax Ltd and Voltas Ltd are some of the companies that will unveil their Q2 earnings on Wednesday.
The Indian benchmark indices started off on a positive note today, taking positive global cues and growing trend in O&G companies. The BSE Sensex is trading higher by 50 pts at 33,421 level while the NSE Nifty is trading higher by 9 pts by 10,359 levels in the later morning hours. The BSE Mid Cap and BSE Small Cap opened up by 0.3% and 0.4% respectively.
Stocks in Action:- Eicher Motors’ Royal Enfield brand has unveiled twin motorcycles, the Interceptor INT-650 and Continental GT-650 at Milan. Royal Enfield holds 95% market share in mid-sized motorcycle biz.
JSW Steel:– The Company is considering partnering Piramal Bain Fund for a joint bid to take in Bhushan Power & Steel which is undergoing insolvency proceedings. JSW Steel Ltd is among the 6 companies selected for the same, presently.
Punjab National Bank:- PNB is likely to rationalize branch network by closing or repositioning its loss-making 300 branches over the next one year period.
Reliance Communications Ltd:- The Rcom under the ADAG Group is likely to renegotiate its deal with the Canadian Investment Fund Brookfield together with other bidders for selling its tower unit.