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Stocks to watch: Maruti, PNB, PSU banks, Zuari Agro, Infosys, GE Shipping

Here's a list of some of the companies whose shares are expected to trade actively in today's session -

SI Reporter  |  New Delhi 

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At 08:25 am, Nifty futures on the Singapore Exchange were trading 58.50 points or 0.50 per cent lower at 11,759, indicating a negative start for the Nifty50 index back home.

Here's a list of some of the companies whose shares are expected to trade actively in today's session -

Infosys, FDC, GE Shipping, others: Nine companies which have active buyback programmes are staring at an unexpected tax burden, says a Business Standard report. The Union Budget on Friday made it mandatory for listed companies to pay additional tax at 20 per cent on share buybacks. READ MORE

Maruti Suzuki India: The country's largest car maker Maruti Suzuki India (MSI) cut production by 16 per cent in June. It was the fifth consecutive month of production cut by the company.

Mindtree: Executive chairman Krishnakumar Natarajan, executive vice chairman & chief operating officer (COO) NS Parthasarathy, and managing director & chief executive officer (CEO) Rostow Ravanan quit on Friday after the IT company was acquired by engineering giant L&T.

Piramal Enterprises board has approved issuing NCDS worth Rs 1,500cr.

DHFL: Lenders' consortium has signed the Inter-Creditor Agreement (ICA) for resolution of Dewan Housing Finance Limited's (DHFL) liquidity crisis, according to reports by CNBC-TV18.

Lemon Tree Hotels: The company in its BSE filing said it has executed Share Purchase Agreement for acquisition of 100 per cent of voting rights of Berggruen Hotels Private Limited (Keys Hotels).

PNB: Punjab National Bank (PNB) on Saturday said it had reported a borrowing fraud of Rs 38.05 billion ($556 million) in Bhushan Power & Steel Ltd's account to the Reserve Bank of India (RBI). Bhushan Power and Steel, one of India's most indebted companies, was among the first 12 companies referred by the RBI India to a bankruptcy court for a debt resolution process under India's new insolvency law.

PSU banks: Global brokerages such as CLSA and Morgan Stanley believe that PSU banks will be the biggest beneficiaries from the Budget announcements. Finance Minister Nirmala Sitharaman has announced Rs 70,000 crore recapitalisation plan for the state-owned banks.

Zuari Agro: The company on Saturday announced it will shut down its Urea/Ammonia Plants.

First Published: Mon, July 08 2019. 08:32 IST
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