Opening Bell: Asian markets open lower; Coal India, Airtel, Jyothy Labs in news
In other news, the India Tourism Development Corporation Ltd (ITDC) is seeking shareholders’ nod to divest stake in hotels
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- Hedge funds can’t compete with stocks in tough Indian market, says Andrew Holland
- Aadhaar-PAN linking must from 1 July, govt notifies rules
- Tension in Haryana village after flags inscribed with ‘786’ put up in temple
Soft US data weigh on Asian markets
Asian markets opened lower. Stocks fell as soft US economic data added to investor concerns. US retail sales dropped more than expected in March, while annual core inflation slowed. Read more.
Outlook for gold prices improve on geopolitical tensions
Even as international gold prices hit a five-month high last week, the outlook for the yellow metal is still robust, as heightened geopolitical tensions, with the US bombing Syria and Afghanistan, have triggered a flight to safety, reports Mint.
177 mines of Coal India downgraded on quality concerns
The national coal quality watchdog has downgraded 177 of Coal India Ltd’s 413 mines, potentially impairing the company’s profitability, reports Mint. The downgrades took effect 1 April.
Airtel offers 10 GB more free data to counter Reliance Jio
Bharti Airtel Ltd is handing out free high-speed data to its postpaid subscribers for the next three months to counter aggressive offerings by Reliance Jio, reports PTI.
Henkel looking to raise stake in Jyothy Laboratories
The deadline for Henkel AG to exercise its option to acquire a 26% stake in Jyothy Laboratories Ltd may be extended as the German firm is keen to take at least 50% stake in the Indian company gradually, reports The Economic Times.
ITDC seeks shareholders’ nod for divesting stake in hotels
The India Tourism Development Corporation Ltd (ITDC) is seeking shareholders’ nod to divest stake in hotels, reports PTI. According to the report, the company is looking to divest or offload its stake in all hotels run by it except Ashok and Samrat hotels in the national capital.
Dilip Buildcon to monetise old projects
Dilip Buildcon Ltd is planning to monetise its old projects, reports Business Standard. According to the report, the company firmed up plans to sell its completed projects in Himachal Pradesh, Gujarat, Maharashtra and Madhya Pradesh.
Uttar Pradesh govt, Centre ink pact for 24x7 power supply
The Uttar Pradesh government and the Centre on Friday entered into an agreement which promises to provide 24x7 power supply to all the households in the state.
Supreme Court order hits tractors, construction vehicles sales
Tractor and construction equipment makers’ business has been hit as transport offices in most states refused to register these vehicles after the Supreme Court order, which stopped sales of vehicles meeting only BS-III emission standards. The order was not meant for tractors and heavy construction vehicles, which have different emission norms, reports Business Standard.
Infosys to ramp up local hiring in US amid H1B visa concerns
Infosys Ltd plans to focus more on local hiring in the US and is also looking at setting up development and training centres in the country as part of its efforts to tide over visa-related issues, reports PTI.
NSE, BSE to discontinue trading in Cairn India shares from 26 April
Lastly, the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) will discontinue equity as well as equity derivative trading in Cairn India Ltd from 26 April, as the company merged into its parent Vedanta, reports PTI.