BackOpening bell: Asian markets open lower; Ambuja Cements, HDFC Bank in news
In other news, Tata Housing is planning to add 8-10 projects to its portfolio in 2017-18 involving an investment of up to Rs800 crore
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US stock end lower; Asian markets follow suit
US equities fell on Friday as General Electric-led industrial stocks traded lower. Asian markets opened lower on Monday, with focus on the sliding dollar and the upcoming two-day policy meeting from the US Federal Reserve later in the week.
JSW Energy to focus on profitability, not costly acquisitions
JSW Energy Ltd has decided to focus on profitability rather than chase asset acquisition at unrealistic prices, said Prashant Jain, who recently took charge as the company’s joint managing director and chief executive officer.
Mutual fund folios hit record 5.8 crore at June end on high retail push
Showing a growing traction for mutual funds among investors, the number of folios has grown by over 93 lakh to an all-time high of 5.82 crore at the end of June 2017, from the year-ago level, driven by strong participation from retail investors.
ONGC not to make open offer post HPCL acquisition: report
Oil and Natural Gas Corp. (ONGC) will not be required to make an open offer to minority shareholders of HPCL after buying out government’s 51.11% stake as the deal won’t trigger takeover norms as did the Indian Oil Corp. (IOC)-IBP merger in 2002. Read more
Tata Housing to invest up to Rs800 crore for expansion in FY18
Tata Housing is planning to add 8-10 projects to its portfolio in 2017-18 involving an investment of up to Rs800 crore.
EIL’s Rs658.80 crore share buyback to open on 25 July
State-owned Engineers India Ltd’s Rs658.80 crore share buyback will open on 25 July and close on 7 August.
Earnings corner
Ambuja Cements, HDFC Bank, Hudco, Tata Communications are among the companies that will be announcing their June quarter earnings on Monday.
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