Karnataka political crisis:
On a day of high drama in the Karnataka Assembly and swift developments later, Governor Vajubhai Vala on Thursday directed Chief Minister H D Kumaraswamy to prove his majority on Friday by 1:30 p.m. "I require you to prove your majority on the floor of the House on or before 1:30 pm tomorrow (Friday)," said Vala in a letter to the Chief Minister within hours after Speaker KR Ramesh Kumar adjourned the Assembly to meet on Friday at 11 a.m. for resuming the debate on the confidence motion Kumaraswamy moved earlier in the day for a floor test. The Governor also brought to the chief minister's attention that he had already directed the Speaker to hold the floor test by the end of the day (Thursday) under Article 175(2) of the Constitution.
Sixth tranche of CPSE ETF:
The sixth tranche of Central Public Sector Enterprises (CPSE) ETF will hit the markets on July 19. The issue size offer of the ETF is Rs 6,000 crore. This is going to be the first tranche of the CPSE ETF since the Modi government assumed charge for second term. The CPSE ETF FFO will be open for retail subscription on Friday. The Centre is looking to mobilise up to Rs 10,000 crore through the latest FFO.
IndiGo Board meeting:
Under the cloud of sparring promoters, InterGlobe Aviation board is scheduled to meet on Friday to consider quarterly financial results and is also likely to discuss differences between the promoters over corporate governance matters. Bringing the differences between him and Rahul Bhatia that have been simmering for nearly a year into the open, co-founder and promoter Rakesh Gangwal has alleged corporate governance lapses -- a development that brought InterGlobe Aviation under regulatory scanner.
Q1 results of companies:
Several companies will announce their Q1 results: Reliance Industries, IndiGo Airlines, Bandhan Bank, Dabur, Hindustan Zinc, ICICI Lombard General Insurance, RBL Bank and Unitech Ltd are set to announce their Q1 results on July 19.