BackOpening Bell | RIL, Wipro shares could see some movement
Asian markets clocked marginal gains after the IMF halted negotiations with debt-strapped Greece
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Greece worries back to haunt the market
Asian markets clocked marginal gains after the International Monetary Fund (IMF) halted negotiations with debt-strapped Greece. Hong Kong’s Hang Seng gained 0.6%, Japan’s Nikkei Stock Average and China’s Shanghai Composite were trading flat.
US stocks end in the green
Overnight US stocks closed higher on Thursday, adding to strong gains made a day earlier, as retail sales provided more evidence of a strengthening economy, reports MarketWatch. Sales at US retailers climbed 1.2% in May, rising for the third month in a row. Nasdaq Composite, Dow Jones Industrial Average and S&P 500 ended marginally higher.
Nestle files case in Bombay high court
In India, Nestle India Ltd shares will be in focus after it filed a case in the Bombay high court for a review of orders passed by the Food and Drug Administration in Maharashtra and the Food Safety and Standards Authority of India banning the sale, production and distribution of Maggi noodles. The hearing will take place today. Meanwhile, the US Food and Drug Administration is also testing samples of Indian made Maggi noodles.
4G roll-out keenly watched at RIL AGM
Reliance Industries Ltd shares will be in focus on account of 41st Annual General meeting today. Investors are expecting RIL to spell out details for the 4G launch by its telecom venture Reliance Jio Infocomm, its strategy on expanding its fuel outlet network and earnings outlook from its expanded petrochemical capacity, read more.
Infosys aims for industry level growth next year
Infosys Ltd aims to touch industry-level growth rates next year, if it manages to meet its 10-12% revenue growth forecast this year, reports Economic Times. Infosys has also created a special team looking specifically at mergers and acquisitions.
Wipro Ltd in talks with Equiniti
Wipro Ltd shares will be in focus as it has initiated talks with UK-based outsourcing group Equiniti for a potential takeover that could be valued at about £1 billion or ₹ 9,900 crore, one of Wipro’s largest acquisitions, reports Economic Times.
Telecom commission gives clearance on sharing and trading of airwaves
Telecom shares will be in focus as the telecom department has given its final clearance to long-awaited rules on sharing and trading of airwaves. Trading allows operators to sell airwaves that they aren’t utilising, offering an exit route for struggling operators. Through sharing operators can pool in their spectrum resources to create a larger bank and each partner can use the airwaves from the pool as per its needs.
Ambani owned gas company - RGTIL gets loan restructuring package
Reliance Gas Transportation Infrastructure Ltd (RGTIL), an unlisted company owned by Mukesh Ambani has received a generous loan-restructuring package from Indian banks after the company incurred huge losses in the past few years, reports Business Standard. The company had a total debt of ₹ 16,010 crore as of 2014-15 and it is first time a company owned by the elder Ambani has sought a loan rescheduling from banks.
Electrosteel in talks with Tata Group
Electrosteel Steels Ltd shares will be in focus as it is in talks with the Tata Group and a Singapore-based financial investor for an investment in the company, read more.
Book an appointment with a minister
Lastly, face time with bureaucrats, even ministers is now available on tap or click, courtesy a website launched by the government — www.myvisit.gov.in. Anyone can book an online appointment with a government official with the help of an Aadhaar number, a mobile phone number or an email id, read more.
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