INSUBCONTINENT EXCLUSIVE:
Nifty futures on the Singapore Exchange were trading 33 points, or 0.31 per cent, down at 10,880, indicating a weak start for the Nifty50 on
Asian peers including Hang Seng, Nikkei and Shanghai were also trading in red in the morning trade following overnight losses on Wall
The Dow Jones Industrial Average declined 507.53 points, or 2.11 percent, to 23,592.98
The SP 500 slipped 54.01 points, or 2.08 per cent, to 2,545.94
The Nasdaq Composite Index ended 156.93 points, or 2.27 per cent, lower at 6,753.73.
Here's a look at the top stocks that may hog the
limelight in today's session:
Mahindra Mahindra: The company on Monday said that it has inked a share subscription agreement with its
Finland-based associate firm Sampo Rosenlew to increase its stake to 49.04 per cent from the existing 35 per cent for Rs 37.74
crore.
Infibeam Avenues: Infibeam Avenues said it has forged an alliance with Suvidhaa Infoserve for last-mile delivery of financial
Both companies are planning to develop an omni-channel marketplace, whereby Infibeam.com will be connected to Suvidhaa's vast network of
91,000 outlets under 4,500 pin codes, a statement said.
ILFS group companies: ILFS group, which sits on a debt pile of about Rs 90,000
crore, said it will sell equity stakes in its road assets to raise funds.
Bank of Baroda: State-owned Bank of Baroda will close down three
overseas branches by June
The bank in a regulatory filing said that as per the government guidelines for rationalisation of overseas presence, increase in efficiency
and profitability of the overseas offices, it will close down branches in Guyana, Trinidad and Tobago and Ghana by June 30, 2019.
Tata
Motors: Tata Motors-owned Jaguar Land Rover (JLR) is likely to cut jobs next year as part of its wider cost efficiency plans, according to a
report by PTI.
Tata Steel:Tata Steel and Thyssenkrupp announced the top leadership team for their proposed joint venture in Europe
JV, and will also serve as chairman of the management board.
Kotak Mahindra Bank: The Bombay High Court declined to provide any interim
relief to Kotak Mahindra Bank in its challenge of the Reserve Bank of India (RBI) order barring its promoter-managing director Uday Kotak
from reducing his stake in the bank through a preference share sale.
SBI Life Insurance Company: US private equity firm Carlyle is closing
in to buy a strategic stake in SBI Life Insurance Co as French insurer BNP Paribas Cardif looks to pare stake to meet regulatory terms for
public float.
Ashoka Buildcon: The company announced Rs 150 crore investment commitment into its city gas distribution (CGD) business Unison
Enviro Private (UEPL) by Morgan Stanley India Infrastructure
UEPL builds and operates CGD networks across cities and towns in India.
Rites Ltd: The company on Monday declared an interim dividend of Rs
Bombay Dyeing: The company has decided to close loss-making Indonesian arm by December 31.
Jet Airways: The airline company said a Forensic
Audit is being conducted by state-owned lender State Bank of India on specific transactions of the company and it is cooperating with the
