Indian stock markets are likely to open flat on Thursday as market participants will be closely watching the proceedings of Karnataka Elections after Supreme Court in a midnight allowed Modi-led BJP to form the government in the state after governor Vajubhai Vala invited BS Yeddyurappa to be the CM of Karnataka. The early indicator of NSE Nifty was trading flat, up 0.02% at 10,766 on the Singapore Exchange on Thursday. Shares of Bajaj Finance, Bajaj Finserv, Alembic, Balkrishna Industries, Central Bank Of India, Coffee Day Enterprises, Escorts, JK Tyre & Industries, Kei Industries, McDowell Holdings, SRF, Taj Gvk Hotels & Resorts, Voltas and Wabco India will be in focus ahead of their respective Q4 earnings.
Tata Steel: Tata Steel reported a consolidated net profit of Rs 14,688.02 crore for quarter ended 31 March 2018 driven by an “exceptional” gain of Rs 11,376 crore.
Punjab and Sind Bank: Punjab and Sind Bank reported a net loss of Rs 524.62 crore for the last quarter of 2017-18 due to a significant rise in provisioning for bad assets.
Yes Bank: Yes Bank is planning to raise $1 billion (about Rs 6,700 crore) by selling shares by way of a public issue, preferential issue or issuance of ADR and GDR.
JSW Steel: JSW Steel has decided to invest an additional Rs 17,600 crore for increasing its steel capacity to 24.7 million tonne per annum (mtpa) by 2020, PTI reported.
SBI: SBI Card is looking to continue growing at a 40 per cent CAGR in the current financial year on rise in card issuance and total spends, a top company official said today.
Muthoot Finance: Muthoot Finance reported 40.3% jump in standalone net profit at Rs 451.39 crore for quarter ended 31 March 2018.
Reliance Communications: Shares of Reliance Communications on Wednesday plunged nearly 16% a day after NCLT admitted an insolvency petition filed by Ericsson against the company and two of its subsidiaries.
PNB: Punjab National Bank shares continued to tumble for the second straight session today, falling sharply by over 12% after the company posted a loss of Rs 13,416.91 crore for the January-March period.
TVS Motor: TVS Motor Co today reported 30.63% jump in standalone net profit to Rs 165.61 crore for the quarter ended 31 March.
Source: Financial Express