Benchmark indices registered a strong recovery from the intraday lows and ended on a positive note on August 2 with Nifty finished a tad below 11,000 mark. Benchmark indices bounced back in afternoon trade after media reports suggested that Prime Minister Office (PMO) and finance ministry’s top bureaucrats were in talks over foreign portfolio investor (FPI) surcharge issue. The PMO took stock of tax surcharge and its impact of the stock market and FPIs.
Carmakers Nissan Motor Co and Renault SA are trying to reach a deal to reshape their global alliance. Nissan wants Renault to reduce its 43.4% stake in the Japanese auto company. U.S. stocks were lower after the close on Friday, as losses in the Technology, Basic Materials and Oil & Gas sectors led shares lower. The DJIA lost 0.37% to hit a new 1-month low, while the S&P 500 index lost 0.73%, and the NASDAQ Composite index fell 1.32%.
Power Grid Corporation of India Limited has been declared as the successful bidder under tariff-based competitive bidding to establish transmission system for providing connectivity to RE Projects at Bhuj-II (2000 MW) in Gujarat’ on the build, own operate and maintain (BOOM) basis.
Adani Transmission Ltd. received Letter of Intent (LoI) for two transmission projects yesterday, the company said in a press release post market hours.
Zydus Cadila announced that it has completed Phase 3 Clinical Trial in India of Saroglitazar Mg for treating Type 2 Diabetes
Dewan Housing Finance defaulted on two NCDs interest worth Rs 35 lakh which were due on July 31 and Aug. 1.
RBI levied a penalty of Rs1.5cr on Bank of India for non-compliance with the RBI guidelines on frauds in Rotomac Group case.
RBI levied a penalty of Rs2cr on Allahabad Bank for non-compliance of rules.
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