At 8:07 am SGX Nifty Index trading with gains of 26 points at 9,475, indicating positive start for Indian indices. The stock of Tata Motors will be in focus today as the index pivotal will report its quarterly earnings today.
Its operating profit (EBIT) for the quarter amounted to Rs 90.86 crore and its EBIT margin stood at 12.76 per cent.
The company reported PAT of Rs 496.2 crore, which represents a sequential QoQ decline of 49.5 per cent and a YoY decline of 40.4 per cent. The board of directors has recommended a final dividend of Rs. 2.7 per equity share for FY16-17.
IIFL Asset Management Co. Ltd (AMC) has raised $250 million for its latest IIFL Special Opportunities Fund which was launched in February 2017. IIFL Special Opportunities Fund is a close-ended scheme under Category II Alternative Investment Fund.
Much to the resentment of Indian film industry, cinema will be levied 28% GST as a replacement for entertainment tax as declared by Finance Minister Arun Jaitley.
BSE FMCG gained 3 per cent, BSE IT gained 0.34 per cent, BSE Consumer durables was up by 0.61 per cent.
The company reported PAT of Rs 26.7 crore, which represents a sequential QoQ decline of 1.4 per cent and a YoY decline of 24.9 per cent.
The stocks which are expected to witness significant movement on May 23 are Supreme Infrastructure India Limited, Centuryply/Indowind, Mahindra & Mahindra, Ajmera Realty & Infra India Limited and Karnataka Bank Limited.
To meet the growing automobile production and the increasing demand for airbags in the country Toyoda Gosei is going to establish a new plant in Gujrat.The new plant will be established in Gujrat which will be a branch of Toyoda Gosei Minda India (TGMIN), a subsidiary of Toyoda Gosei.
Spice-Jet is working on bringing down the cost of operations in order to enable low ticket prices, while contemplating a single class all economy cabin, with less leg space.
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