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Stocks in the news: YES Bank, Tata Motors, Titan, RIL and Berger Paints

The Nifty futures of SGX were trading 134 points or 1.23 per cent down at 10,862.

Aug 06, 2019, 08.17 AM IST
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Wall Street tanked on Monday and futures pointed to more losses to come.
NEW DELHI: Domestic equity markets are likely to open on a negative note on Tuesday, following Nifty on Singapore Stock Exchange (SGX) and subdued global cues. At 07:45 am, the Nifty futures of SGX were trading 134 points or 1.23 per cent down at 10,862.

Wall Street tanked on Monday and futures pointed to more losses to come after a fall in China’s yuan currency and US President Donald Trump’s vow to impose additional tariffs on Chinese goods sparked an escalation of the US-China trade war.

The Dow Jones Industrial Average lost 767.27 points, or 2.9 per cent, to 25,717.74, the S&P 500 lost 87.31 points, or 2.98 per cent, to 2,844.74 and the Nasdaq Composite dropped 278.03 points, or 3.47 per cent, to 7,726.04.

Here is a list of top stocks that are likely to be in focus in today's trading session.

Tata Motors: ICRA, the Indian unit of Moody's Investors Service, on Monday downgraded automaker Tata Motors by a notch, citing “continued deterioration” in the financials of its British luxury car unit Jaguar Land Rover (JLR). In another development, the largest commercial vehicle maker also lowered production at its Pantnagar (Uttarakhand) facility to 15,000 units of smml pick-up trucks this month from 18,000 units last month amid sputtering sales.

YES Bank: Global rating agency Moody's on Monday maintained its decision to keep YES Bank ratings under review for downgrade for the second time in under two months citing worsening asset quality and higher exposure to shadow banks.

Berger Paints: The company on Monday reported a 31.76 per cent increase in consolidated net profit to Rs 176.41 crore for the first quarter ended June 2019. It had posted a net profit of Rs 133.88 crore in the April-June quarter a year ago.

RIL, Bharti Airtel: Reliance Jio and Bharti Airtel have expressed interest in bidding for physical telecom infrastructure of Anil Ambani-led Reliance Communications which is undergoing insolvency proceedings, a source privy to the development told PTI.

MTNL: Thousands of employees of debt-ridden telecom firm MTNL staged a protest outside the telecommunications ministry on Monday demanding the immediate release of salary and pensions pending for the last two months, a union leader said.

Dilip Buildcon: Highway developer Dilip Buildcon on Monday reported 54.74 per cent dip in consolidated net profit at Rs 100.27 crore for the quarter ended June 30, 2019. It had clocked a net profit of Rs 221.56 crore for the corresponding quarter of the previous fiscal.

Jindal Stainless: The company posted 56.9 per cent decline in consolidated profit at Rs 47.62 crore for the quarter ended June 30, 2019. It had reported a consolidated profit of Rs 110.63 crore in the year-ago period.

Results today: Central Bank of India, Fortis Healthcare, Hawkins Cookers, Indiabulls Housing Finance, Khadim, Sundaram Finance and Titan will announce their financial results for June quarter on Tuesday.

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