Kotak Mahindra Bank, Fortis, and RIL
IDEAL STOCK: Weak Asian markets and Nifty futures on Singapore Stock Exchange (SGX) indicate a negative opening for the domestic market on Thursday. Asian shares hit fresh one-year lows in early trade, while oil and precious metal prices also tumbled as Turkey’s currency crisis and fears of an economic slowdown in China fanned worries about global growth, Reuters reported.
At 08:16 am, the Nifty futures on SGX traded 21.50 points or 0.19 per cent lower at 11,412.50.
Kotak Mahindra Bank: The Reserve Bank of India has rejected the means by which Uday Kotak diluted his promoter stake in Kotak Mahindra BankNSE 0.45 %. The lender insisted it was compliant with regulations, setting the scene for a possible showdown with the regulator as a December deadline looms.
Fortis Healthcare: Shareholders of Fortis Healthcare have voted to approve its proposed $1 billion deal with Malaysian healthcare group IHH Bhd, the company told stock exchanges late on Tuesday.
GMR Infrastructure: The company reported widening of net loss at Rs 235.14 crore in the first quarter ended June 30, 2018. Income from operations during the first quarter this fiscal stood at Rs 1,648.04 crore. It was Rs 2,572.86 crore in the year-ago period.
Jet Airways: Blackstone Group LP is in talks to buy a stake in the loyalty program of Jet AirwaysNSE -1.10 % India, the troubled Indian carrier that’s exploring options to raise cash, Bloomberg reported citing sources.
Reliance Industries: The company has halted gasoline exports from its Jamnagar site, four people familiar with the matter said on Wednesday, causing the profit margin from producing the fuel to jump to its highest since September, Reuters reported.
Videocon Industries: The company's net loss widened to Rs 2,874.21 crore for April-June 2018-19 as against a loss of Rs 885.82 crore in the year-ago period due to write off of certain loans and advances of Rs 1,413.35 crore.
Gati: Allcargo Logistics is in initial round of talks to acquire a controlling stake in express logistics company Gati.
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