On Tuesday, share markets in India opened on a negative note but ended the day in green.
Top Stocks in Action Today
Godrej Agrovet share price is likely to be in focus today after reports that the mortgage company is planning to bid for Ruchi Soya Industries Ltd, which is undergoing bankruptcy resolution, with an eye on its palm oil business.
Canara Bank share price is among the stocks to watch today, after news that the Central Bureau of Investigation (CBI) has charged its former CMD and others with cheating and forgery in a loan default case.
As per the news, The CBI had registered a case on January 27, 2016, on the allegations that the company, dealing in wholesale and retail trading of silver jewellery and articles, etc. had cheated Canara Bank to the tune of Rs 683 million through its accounts at Kamla Nagar, New Delhi branch of the bank.
India’s Manufacturing and IT Sectors Seen to Rebound
As per an article in a leading financial daily, the Reserve Bank of India’s (RBI) data on performance of the private corporate sector has showed that India’s manufacturing sector witnessed an improvement in sales growth in the period October-December 2017-18 (Q3) on annual basis.
However net profit has remained subdued due to lack of support from other/non-operating income. It noted that during Q3 of FY18, manufacturing companies’ sales surged by 14% as compared to similar period of the previous fiscal. While net profit of these companies declined by 2.4%.