Donald Trump Imposed Tarrifs on China, Stock Market is Expected to Get a Hit
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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.