Market Headstart: Nifty seen opening flat; Biocon, MindTree top buys Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 16.5 points gain or 0.15 percent. Nifty futures were trading around 11,277-level on the Singaporean Exchange.
Stocks in the news: Torrent Pharma, Bharti Airtel, Union Bank, Century Tex, Vimta Labs Bharti Airtel | Torrent Pharma | Transformers & Rectifiers | Rama Steel and Bank of Maharashra are stocks which are in news today.
RBI says no to Maha Bank proposal on setting off Rs 7,360 cr losses The bank's board and shareholders approved setting off accumulated losses of Rs 7,360.29 crore as of March 31, 2019, against the balance lying in share premium account and revenue reserve account of bank as on date of set-off.
Stocks in the news: ITC, RIL, Nestle, NIIT, Coffee Day, DHFL, Union Bank, Bata India, JK Cement Nestle India | NIIT | Coffee Day Enterprises | DHFL | Union Bank | Bata India and JK Cement are stocks which are in the news today.
Banking wrap: State-owned banks gear up to raise equity, SBI says limited room for improvement in margins The RBI slapped fine on eight public sector banks for violating norms on fraud classification, bill discounting and monitoring of end use of funds
RBI slaps fine on eight public sector banks for violating norms Bank of Baroda, Bank of India, Indian Overseas Bank and Union Bank of India were fined Rs 1.5 crore each, while Allahabad Bank and Bank of Maharashtra were penalised Rs 2 crore each. Oriental Bank of Commerce was penalised with Rs 1 crore, the RBI said.
Bank of Maharashtra posts Q1 profit of Rs 89 cr on tax refund, gross NPA rises to 17.9% Bank of Maharashtra received a tax refund of Rs 343.3 crore in Q1 against Rs 43.5 crore in same period last year.