Opening bell: Asian markets open mixed; NDTV, Capital First, TCS in focus
In other news, private equity firm Warburg Pincus plans to sell 10% stake in Capital First Ltd to take advantage of the rise in share price
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Asian markets open mixed
US markets closed higher. S&P 500 gained 0.86% to 2,349. Asian markets outside Japan opened mixed. According to Reuters, markets are awaiting data on Chinese home prices in March and South Korea’s producer price index.
Trump to seek changes in visa program
Keep an eye on IT stocks. US President Donald Trump on Tuesday will sign an executive order directing federal agencies to recommend changes to a temporary visa program used to bring foreign workers to the country, reports Reuters.
NDTV looks to sell assets
New Delhi Television (NDTV) Ltd, which runs news channels like NDTV India and NDTV 24x7, on Monday said that it is considering potential sale of certain strategic assets by one or more of its subsidiaries. Read more.
Warburg Pincus planning to sell 10% stake in Capital First
Private equity firm Warburg Pincus plans to sell 10% stake in Capital First Ltd to take advantage of the rise in share price, reports The Economic Times.
Indiabulls to carve out commercial office business into separate firm
Indiabulls Real Estate Ltd has revealed plans to carve out its leasing and commercial businesses into a separate entity, reports Mint. The residential business will continue to remain with IBREL.
M&M working on new-generation Scorpio
Mahindra & Mahindra Ltd (M&M) is working on a new-generation Scorpio that is expected to hit the roads in 2020, reports The Economic Times.
Godrej Properties ties up with Taj to build luxury hotel
Godrej Properties Ltd has partnered with Taj Palaces Resorts Safaris to develop a 150-room Taj Hotel at its ongoing mixed-use development project at Mumbai’s Vikhroli.
Govt may push doctors to prescribe generic medicines
The government will make “legal arrangements” to ensure doctors prescribe generic medicines, Prime Minister Narendra Modi said, a move that could hurt big drug companies but benefit millions of poor people, reports Hindustan Times.
India seeks an end to urea imports in 5 years
India is boosting production of the crop nutrient seeking to end imports in the next five years, reports Bloomberg. According to the report, India produced 24.5 million tonnes of urea in the year ended March 2016, compared with consumption of around 32 million tonnes during the period.
Govt scouts for merchant bankers for PSUs stake sale
Kick-starting the process of selling minority stake in seven public sector undertakings (PSUs) including Indian Oil Corporation Ltd, Steel Authority of India Ltd and National NTPC Ltd, the government has begun scouting for merchant bankers, reports PTI.
TCS earnings today
Hindustan Oil Exploration Co. Ltd, TCS Ltd and VST Industries Ltd are some of the companies that will release their earnings for the March quarter on Tuesday.