Today's Sector News – 02.08.2019
* AUTOMOBILE: Hyundai Motor India's total sales in July decreased 4% on year to 57,310 units.
- Honda Cars India's total sales plunged 49% on year to 10,584 units in July.
* ECONOMY: At its meeting in June, the Reserve Bank of India's Monetary Policy Committee had briefly discussed cutting the policy repo rate by 35 basis points, but finally settled for a 25-bps cut due to lack of consensus on the steeper cut.
* INFORMATION TECHNOLOGY: Cognizant Technology Solutions reported a 12% rise in net profit to $509 mln in Apr-Jun.
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- Honda Cars India's total sales plunged 49% on year to 10,584 units in July.
* ECONOMY: At its meeting in June, the Reserve Bank of India's Monetary Policy Committee had briefly discussed cutting the policy repo rate by 35 basis points, but finally settled for a 25-bps cut due to lack of consensus on the steeper cut.
* INFORMATION TECHNOLOGY: Cognizant Technology Solutions reported a 12% rise in net profit to $509 mln in Apr-Jun.
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