BackOpening bell | Telecom firms make data cheaper; RIL, HUL in focus
In other news, RBI governor Raghuram Rajan has all but ruled out an interest rate cut in August citing escalating inflation pressures
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Asian markets steady, US markets close mixed
Asian markets outside Japan saw steady opening. According to Reuters, the US dollar gained in morning trade. Over the weekend, the US markets closed mixed. S&P 500 at 2,161 points is marginally down 0.09%.
Raghuram Rajan signals no rate cut in the offing
Reserve Bank of India (RBI) governor Raghuram Rajan has all but ruled out an interest rate cut in August, when the central bank reviews its monetary policy, citing escalating inflation pressures, reports Mint.
Telecom companies make data services cheaper
Ahead of the launch by Reliance Jio Infocomm, existing telecom companies have made their data services substantially cheaper, reports Business Standard. Bharti Airtel Ltd and Idea Cellular Ltd have not cut data prices but raised benefits in their data packs.
Domestic sales offsetting RIL export slump
Reliance Industries Ltd (RIL) exported less than 10 million tonnes of petroleum products in the April-June period—a first in three quarters—as domestic retail and bulk sales of petroleum products increased, reports Mint. The company released its June quarter results after market hours on Friday.
Wipro, Infosys vie for India Post payments bank’s back end operations
At least 15 companies, including Wipro Ltd, Infosys Ltd and International Business Machines Corp., have shown an interest in handling the back-end operations of India Post Payments Bank. Read more.
HB Stockholdings may sell stake in Shriram Industries
HB Stockholdings may sell its 25% stake in DCM Shriram Industries Ltd, reports Business Standard. According to the report, the move is prompted by a sharp rise in DCM Shriram Industries’ stock price.
Ashok Leyland to set up bus assembly plant in Kenya
Ashok Leyland Ltd plans to set up a bus assembly plant in Kenya with an investment of ₹ 70 crore as part of its global expansion plans, reports PTI. The new plant in Kenya will serve at least three neighbouring countries.
Hindustan Unilever earnings today
Exide Industries Ltd, Hindustan Unilever Ltd (HUL) and MindTree Ltd are some of the companies that will release their earnings for the June quarter today.
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