Wednesday, 1 August 2018

Stock Market Corner

Stock Corner

1.                   Tata Motors arm to stop manufacturing operations in Thailand, to use a distribution model.


2.                   Jindal Steel and Power received 1lakh tonne order for rails floated by Indian Railways.
3.                   Two-and-three-wheeler maker TVS Motor Company reported a 18 percent year-on-year rise in July sales, driven by growth across segments. Total sales increased to 3.21 lakh units in month gone by against 2.71 lakh units sold in same period last year. Numbers are ahead of Nomura expectations of 3.11 lakh units.
4.                   Bank of Baroda closed 3 foreign branches in Oman and Bahrain.
5.                   Lakshmi Vilas Bank has revised the marginal cost of funds based lending rate (MCLR) with effect from August 1.
6.                   Battery manufacturer Exide Industries' June quarter profit increased 11.1 percent year-on-year to Rs 210 crore, supported by revenue and operational growth. But it was impacted by higher depreciation (down 28 percent) and tax cost (24 percent). Profit in the year-ago period stood at Rs 189 crore.
7.                   Shares of Bank of India were down around a percent on Wednesday as investors reacted to its financial performance for the June quarter. The public sector lender reported first quarter profit growth at 8.4 percent year-on-year despite rising provisions and weakening asset quality, beating analyst expectations.

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