Asian stock markets are tumbling today after US president Donald Trump imposed tariffs on an additional $200 billion worth of Chinese goods with China’s markets leading the declines, as trade tensions between the world’s two biggest economies continued to deteriorate.
Earlier today, SGX Nifty was trading at 10,932.50, down 25.50 points or 0.23 per cent.
The United States had just imposed tariffs on $34 billion worth of Chinese goods, drawing immediate retaliatory duties from Beijing on US imports in the first shots of a heated trade war.
Here are key stocks in focus today:
Tata Consultancy Services: The country's largest software exporter TCS on Tuesday posted a 23.4 per cent rise in consolidated net profit to Rs 7,340 crore for the first quarter ended 30 June, 2018. The company had reported a net profit of Rs 5,945 crore in the same period previous fiscal, TCS said in a regulatory filing.
PNB Housing Finance: Punjab National Bank (PNB) and Quality Investment Holdings (The Carlyle Group) have announced regarding sale of minimum 51% stake in PNB Housing Finance Limited to the potential acquirers. As on date, PNB owns 32.79% and Quality Investment Holdings owns 32.36% of the paid up equity share capital of the Company.
Tata Motors: Tata Motors said that it has bought 26 per cent stake in TruckEasy, a tech-based freight aggregator, marking its first investment in a start-up. It did not disclose the deal value. The investment is being done through Tata Motors Finance Holdings, a wholly-owned subsidiary of the company, Tata Motors said in a statement.