Home >Market >Stock-market-news >Opening Bell 28 July | Reliance Power, Jaypee Group in focus
A file photo of the BSE building in Mumbai. Photo: Abhijit Bhatlekar/Mint
A file photo of the BSE building in Mumbai. Photo: Abhijit Bhatlekar/Mint

Opening Bell 28 July | Reliance Power, Jaypee Group in focus

Weak energy prices and the decline in US markets are weighing on investor sentiment

Mumbai: Asian markets are trading lower. Weak energy prices and the decline in US markets are weighing on investor sentiment.

Over the weekend, US markets closed lower. S&P 500 lost 0.48% to 1,978 as earnings of Amazon.com Inc and Visa Inc. missed estimates. Read more.

Shares of Reliance Power Ltd and Jaypee Group-Jaiprakash Associates Ltd, Jaiprakash Power Ventures Ltd may see some action. Reliance Power is buying the hydropower assets of Jaiprakash Power, reports Mint. The development comes after a Abu Dhabi-based consortium called off its plan to buy Jaiprakash’s two hydropower plants.

Shares of state-owned hydroelectric companies may also be in the limelight. The government is exploring the possibility of merging all state-owned hydroelectric companies that include NHPC Ltd, THDC India Ltd, SJVN Ltd and North Eastern Electric Power Corp. Ltd, reports Mint.

The Adani Group, which controls Adani Enterprises Ltd, Adani Power Ltd and Adani Ports and Special Economic Zone Ltd, is planning to raise 10,000 crore through share sale, reports The Economic Times. The funds may be used for business expansion.

Central Bank of India Ltd is in the process of selling 4% of its stake to Life Insurance Corp. of India through an institutional placement, reports PTI. The funds will be used to meet the bank’s capital requirement.

As part of a revival strategy MCX Stock Exchange Ltd is working to raise private equity (PE) capital, change its name and expand its employee base, reports Mint. As a first step the bourse is looking at new avenues to raise capital.

The debt-laden GMR Group which controls GMR Infrastructure Ltd-is moving quickly to strengthen its balance sheet, reports Mint. The conglomerate, which has accumulated debt of 33,599 crore, plans to raise funds by selling shares in at least two group companies, the report adds.

The government is unlikely to approve SpiceJet Ltd’s proposal to offer restricted non-changeable, non-refundable fares, saleable at any time for domestic travel, reports Business Standard. According to the report, SpiceJet will have to refund the charges levied by the government and airport operators in the event of cancellations.

Blue Star Ltd, Bank of Baroda Ltd, Dabur India Ltd, Godrej Consumer Products Ltd, Havells India Ltd, Hindustan Unilever Ltd, Larsen and Toubro Ltd and UPL Ltd are some of the companies that will release their earnings for January-March quarter today.

Lastly, personal data can be extracted from iPhones through previously unpublicized techniques by Apple Inc. employees, reports Reuters. The same techniques to circumvent the backup encryption could be used to access “trusted" computers to which the devices are connected, the report adds.

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