Stock Corner
1.
Shares of
paint, consumer durables and footwear companies have rallied by up to 10 per
cent on the BSE, after the GST Council on Saturday reduced tax rates from 28
per cent to 18 per cent on a range of daily use products and appliances. Among items on which GST was
reduced include footwear, small televisions, water heater, electric ironing
machines, refrigerators, lithium ion batteries, hair dryers, vacuum cleaners,
food appliances and ethanol.
2.
Shares of
public sector undertaking (PSU) banks have moved by up to 6% on the National
Stock Exchange (NSE) after Vijay Bank said its assets quality improved in June
2018 (Q1FY19) quarter.
3.
Havells has
started the financial year on a strong note clocking 40 per cent revenue growth
during the June quarter. This was primarily led by its electrical consumer
durables (ECD) segment while the Lloyd's air-conditioners (AC) business also
surprised positively and other segments too supported.
4.
UPL has
surged 15% to Rs 631 on the BSE on heavy volumes in noon deals, after the
company announced the acquisition of Arysta LifeScience – the agrochemical
business of US-based Platform Chemicals – for a consideration of $4.2 billion.
5.
HDFC Bank
fell 1.02% to Rs 2167.85 on BSE after net profit rose 18.17% to Rs 4601.44
crore on 18.85% increase in total income to Rs 26367.04 crore in Q1 June 2018
over Q1 June 2017.
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