Indian Shares May Open On Mixed Note; Earnings Eyed

(RTTNews) - Indian shares are likely to open mixed on Monday, with investors reacting to quarterly earnings reports and staying somewhat cautious ahead of some crucial economic data, due this week.

Global cues are not any positive, with Wall Street closing on a mixed note and European stocks drifting lower on Friday amid rising concerns about global growth. Asian markets this morning are turning in a mixed performance.

The next round of trade talks between the U.S. and China are scheduled to commence later this week in Beijing.

On Friday, shares plunged sharply after leading automobile manufacturer Tata Motors reported its biggest quarterly loss ever, hit by asset impairment in its U.K. subsidiary JLR. Weakness in global markets added to the woes.

The benchmark BSE Sensex tumbled 424.61 points, or 1.15%, to 36,546.48. The broader Nifty index of the National Stock Exchange plunged 125.80 points, or 1.14%, to 10,943.60.fell sharply on Friday, with Tata Motors' dismal performance in the third quarter of the current fiscal and weak global cues weighing on markets, heading into the weekend.

Tata Steel reported a 54.33% jump in third quarter consolidated net profit, at Rs 1,753.07 crore, over a net profit of Rs 1,136 crore in the corresponding quarter last year.

State-run Bharat Petroleum Corporation Limited reported a 76.9% decline in net profit at Rs 495.14 crore for the quarter ended December 2018, compared to the corresponding quarter in 2017-18.

Lupin has announced the completion of USFDA inspection at the company's Goa manufacturing facility. The inspection closed with 2 observations, which the company says, are procedural in nature and that it is confident of addressing them satisfactorily.

Future Group stocks are likely to be in focus on reports Amazon has put on hold its plans to buy stake in Future Group.
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