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Business News/ Market / Stock-market-news/  Opening Bell | Asia opens lower; Idea Cellular, Reliance Power, SKS in news
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Opening Bell | Asia opens lower; Idea Cellular, Reliance Power, SKS in news

Reliance Power gets Bangladesh nod for power project; Idea may potentially spend $1.3 bn in adding data spectrum in the upcoming auction around July

Photo: Hemant Mishra/MintPremium
Photo: Hemant Mishra/Mint

Global equities subdued

US markets closed with losses. S&P 500 lost 0.59% to 2,051 on subdued economic data from the US and China. Tracking the losses, Asia opened weak.

Freight rates rise on better demand for cargo transport

Demand for cargo transport by road has been boosted by higher output from industries such as cement, steel and fertilizer, higher demand, and an early onset of summer that forced farmers to advance their harvest. As a result, freight rates are up, reports Mint.

Govt liberalizes coal supply procedure

The Union cabinet has liberalized the way coal is supplied to central, state and independent power producers so that the fuel can be used optimally to generate electricity at the lowest cost possible. Read more.

Tobacco firms asked to implement pictorial warnings rule

The Supreme Court has directed all tobacco companies to implement the rule mandating 85% pictorial warnings on packets of tobacco products.

China’s Dalian Wanda Group scouts India for multiplexes

The Dalian Wanda Group, a Chinese conglomerate and the largest cinema exhibitor in the world, has initiated talks with Indian multiplex owners to acquire assets and enter the Indian market, reports Mint.

Reliance Power gets Bangladesh nod for power project

The government of Bangladesh has granted in-principle approval for the first phase of Reliance Power Ltd’s project in the country, reports The Times of India. In the first phase, the company will set up 750 megawatt power plant.

Idea may spend big in upcoming auction

Idea Cellular Ltd may potentially spend $1.3 billion (around 8,627 crore) in adding data spectrum in the upcoming auction around July, brokerage HSBC said, reports The Economic Times.

Kishore Biyani plans to hive off home furnishings business

Kishore Biyani, group chief executive officer of retail conglomerate Future Group, may hive off home retail business HomeTown from its flagship Future Retail Ltd and create a new home furnishing company by combining it with FabFurnish.com, which it acquired last month, reports Mint.

NTPC warns Reliance Infra units of cut in power supply

NTPC Ltd told two units of Reliance Infrastructure Ltd, which distributes electricity in large parts of Delhi, that power supply will be cut from 10 May over non-payment of dues, highlighting the financial distress in the distribution business, reports Mint.

SKS March quarter profit doubles

SKS Microfinance Ltd’s fiscal fourth-quarter profit, excluding those of its units, doubled to 84.4 crore from a year earlier. Revenue rose 68%. The company has decided to change its name to Bharat Financial Inclusion Ltd.

Hero MotoCorp earnings today

Emami Ltd, Godrej Properties Ltd, Hero MotoCorp Ltd, NDTV Ltd, P&G Hygiene and Health Care Ltd, Eicher Motors Ltd, Gillette India Ltd and Castrol India Ltd are some of the companies that will release their earnings for the March quarter today.

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Published: 05 May 2016, 08:05 AM IST
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