Market
Updated : 2020-07-21 08:04:41
The Indian market is likely to open higher on Tuesday following global peers as COVID-19 vaccine hopes fueled optimism. At 6:55 am, the SGX Nifty was trading 38.55 points or 0.35 percent higher at 11,114.80, indicating a positive start for the Sensex and Nifty50.
Telecom stocks: The Supreme Court reserved its order in the adjusted gross revenue (AGR) case. This, after Vodafone Idea and Bharti Airtel sought 15 years to repay their dues to the government while Tata Teleservices has said that a 7 to 10 year period should suffice for them. The court has directed AGR payments to be made on the Department of Telecom’s (DoT) preliminarily assessed dues rather than the operator’s detailed self-assessments. The next hearing has been scheduled for August 10.
Wipro: The company has received orders from ComplianceQuest for quality management solutions. (Image: Reuters)
ACC: The company’s net profit in April-June quarter declined 40.5 percent to Rs 270.9 crore from Rs 455.7 crore while revenue fell 37.3 percent to Rs 2,602.2 crore from Rs 4,149.8 crore, YoY.
InterGlobe Aviation: The company will lay off 10 percent of its total workforce as it is facing a crisis caused by the COVID-19 pandemic. (Image: IANS)
Indian Oil Corporation: Rating agency Fitch has affirmed the company’s long-term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-‘. The outlook is ‘Negative’. The agency has also affirmed IOC’s senior unsecured rating and the ratings on its outstanding senior unsecured debt at ‘BBB-‘
Jubilant Life Sciences: The company has received approval from the Drug Controller General of India (DCGI) to manufacture and market the antiviral drug remdesivir for restricted emergency use in India for the treatment of severe COVID-19. Jubilant’s remdesivir product will be marketed under the brand name ‘JUBI-R’ in India and will be made available in 100 mg vials (injectable). (Image: Reuters)
NTPC: The company has added 800 MW, Unit-2 of Lara Super Thermal Power Project to Installed capacity on successful completion of trial operation. The total installed capacity of NTPC and NTPC group has become 51,155 MW and 62,910 MW respectively.
NHPC: The company has signed a pact with Odisha Green Energy Body to develop solar projects.
Majesco: The company will sell its US subsidiary to Thoma Bravo for $420.7 million.
Omaxe: The company has entered into a steel supply deal with Jindal Steel & Power Ltd. JSPL will supply 7,000-8,000 metric tonne of structural steel to Omaxe.
Earnings: Axis Bank, Bajaj Finance, Bajaj Finserv, Hindustan Unilever, HDFC Life Insurance Company, ICICI Prudential Life Insurance Company, SBI Life Insurance Company, IndiaMART InterMESH, among others.
