Opening bell: Asian markets open mixed; ACC, Jubilant Foodworks in news
In other news, over two weeks into the GST regime, the all-powerful GST Council will meet on Monday to take stock of the implementation of the new indirect tax
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US equities end at record high; Asian markets open mixed
Stocks rose to record levels on Friday as earnings season kicked off. The S&P climbed 0.6% to close at 2,459.27 points, setting intra-day and closing records.
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Asian markets were mixed in early Monday trade as investors awaited the release of China’s second-quarter GDP.
GST Council to take stock today
Over two weeks into the goods and services tax (GST) regime, the all-powerful GST Council will meet on Monday to take stock of the implementation of the new indirect tax.
Number of public sector banks may go down to 12 as govt mulls consolidation
The government is working on a consolidation agenda with a view to creating 3-4 global-sized banks and reduce the number of state-owned lenders to about 12, an official said.
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RBI seen going for rate cut in August MPC meeting
With inflation falling to record low levels and industrial growth slipping to below 2%, bankers and economists feel the pressure has increased on the Reserve Bank of India to go for a policy rate cut in the monetary policy committee meeting next month.
HPCL to invest Rs61,000 crore by 2021 on expansion projects
State-owned Hindustan Petroleum Corp. Ltd (HPCL) will invest Rs61,000 crore over the next four years in expanding and upgrading its existing refining capacity to meet higher quality fuel norms.
Oil ministry intensifies monitoring of ONGC, OIL fields to avoid slippages in output
The oil ministry has intensified monitoring of oil and gas fields of state-owned firms like Oil and Natural Gas Corp. (ONGC) to avoid slippages in domestic output derailing the target of cutting import reliance by 10% by 2022.
Reliance may set up LNG retail outlets, charging points for electric vehicles
Reliance Industries Ltd (RIL) is considering a plan to enter retailing of liquefied natural gas and setting up of charging stations for electric vehicles at its petrol pumps, reports Mint.
ACC and Jubilant Foodworks Ltd are among the companies that will be announcing June quarter earnings on Monday.