Opening bell: Asian stocks fall; HUL, CESC, JSW Steel in focus
By Rob 0
Asian stocks track US market losses
Overnight, the US markets posted their largest single-day decline since September last year as turmoil surrounding Donald Trump’s administration impacted risk appetite. Tracking the cues, Asian markets opened with losses.
Govt approves new coal linkage policy
The Union Cabinet approved a transparent mechanism for coal allocation and signalled a renewed focus on nuclear power generation. Read more.
HUL Q4 profits beat estimates
Hindustan Unilever Ltd (HUL) reported fiscal fourth-quarter earnings that beat analyst estimates. Sales rose 6.3% to Rs8,969 crore. Read more.
CESC to split four ways
The RP-Sanjiv Goenka Group plans to split CESC Ltd into stand-alone listed entities focused on four business verticals—retail, BPO, power generation & transmission and power distribution, reported The Times of India.
Dabur buys two cosmetics companies in South Africa
Dabur India Ltd has entered into a share-purchase agreement with two companies—D and A Cosmetics Proprietary Ltd for 47 million South African rand and Atlanta Body & Health Products Proprietary Ltd—for 2 million South African rand (around Rs24.3 crore together).
JSW Steel Q4 profit triples to Rs1,009 crore
JSW Steel Ltd’s fiscal fourth-quarter profit tripled from a year ago, beating analysts’ estimates, on higher production and sales. Net profit rose to Rs1,009 crore in the three months ended 31 March from Rs301 crore a year ago.
Royal Enfield to step up presence in overseas markets
Royal Enfield, a unit of Eicher Motors, plans to almost double its exclusive retail stores abroad, reports Business Standard. According to the report, the company has identified Thailand, Indonesia, Colombia and Brazil as having the potential to become very large markets for its business over time.
Warburg Pincus sells its 25% stake in Capital First
Private equity firm Warburg Pincus LLC part-exited Capital First Ltd by selling a 25% stake in the non-banking financial company through open market transactions on Wednesday, reports Mint.
Competition heats up in broadband services
Bharti Airtel Ltd almost doubled its data benefits to broadband users as rival Reliance Jio is expected to launch its broadband services for homes. Read more.
Bank of Baroda, Bajaj Auto earnings today
It is going to be a results heavy day. Bank of Baroda Ltd, Bajaj Auto Ltd, Coffee Day Enterprises Ltd, Aditya Birla Nuvo Ltd, Cummins India Ltd, CESC Ltd, IDBI Bank Ltd, Jyothy Laboratories Ltd, Pidilite Industries Ltd and Tata Coffee Ltd are some of the companies that will release their earnings for the March quarter on Thursday.
First Published: Thu, May 18 2017. 07 55 AM IST