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Business News/ Market / Stock-market-news/  Opening bell: Asia opens mixed; Bayer Corp, Tata Coffee earnings in focus
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Opening bell: Asia opens mixed; Bayer Corp, Tata Coffee earnings in focus

In other news, NSE has hired accounting firm Deloitte India to do a forensic audit and examine allegations of unfair access to some brokers in algorithmic trading

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

US stocks end higher; Asian markets open mixed

Stocks closed higher on Tuesday, helped by stronger-than-expected quarterly reports and after mixed inflation data. The Dow Jones industrial average rose 0.42%, to close at 18,161.94. The S&P 500 climbed 0.62%, to end at 2,139.60. The Nasdaq composite advanced 0.85%, to close at 5,243.84.

Most Asian markets were stuck in wait-and-see mode on Wednesday morning, ahead of a slew of economic data, including third quarter gross domestic product (GDP), due from China. Japan’s Nikkei 225 was down 0.01%.

Centre, states brace for a testy face-off on GST rates

The goods and services tax (GST) council worked out a compensation formula for states and is now bracing for a testy debate on rates. The Centre has proposed a tiered rate structure with the rates varying from 4% for commodities like gold to 26% plus cess on so-called sin goods.

RBI’s monetary policy committee chose growth over inflation for rate cut

India’s new monetary policy committee (MPC) was concerned about economic growth, and saw the downturn in retail inflation and slack in the economy as an opportunity to cut the key policy rate. Read more.

Deloitte to audit NSE’s algorithmic trading system

The National Stock of Exchange of India Ltd (NSE) has hired accounting firm Deloitte India to do a forensic audit and to examine allegations of unfair access to some brokers in algorithmic trading.

No money with telecom firms to bid for more spectrum: COAI

Telecom companies can’t afford to bid for more spectrum even if the government were to hold another auction, after managing to sell just 41% of the radio waves it offered earlier this month. Read more.

GMR Group in talks for stake sale in Chhattisgarh power plant

Infrastructure conglomerate GMR Group has initiated discussions with SembCorp Industries Ltd of Singapore and US-based Lone Star Funds for selling a significant stake in GMR Chhattisgarh Energy Ltd (GCEL), a 100% subsidiary of GMR Energy Ltd (GEL), reports Mint.

Essar may start repaying loans in next few weeks

Essar Global, the holding company of India’s billionaire Ruia brothers, plans to repay about $2.1 billion owed to Standard Chartered Plc after agreeing to sell control of its refinery business.

Cairn India cannot export surplus crude from Barmer oilfields: Delhi HC

In a setback to Cairn India, the Delhi high court rejected its plea seeking permission to export surplus crude from Barmer oil fields in Rajasthan.

Apollo Hospitals to sell stake in clinics subsidiary, raises Rs450 crore

With an aim to raise funds to expand its clinics business, Apollo Hospitals will dilute some stake in the vertical for 450 crore this fiscal. Read more.

JSW Group to invest additional Rs3,400 crore at cement facility in Salboni

The JSW Group announced in Kolkata that it will invest an additional 3,400 crore at its cement production facility currently under construction at Salboni in West Bengal.

PNB Housing Finance’s Rs3,000 crore IPO to hit market on 25 October

PNB Housing Finance Ltd said its 3,000 crore initial public offering (IPO) will open for subscription on 25 October. The mortgage lender’s IPO, the second largest this year after ICICI Prudential Life Insurance Co.’s offering of almost 6,057 crore, will close on 27 October. Read more.

Earnings Corner

Bayer Corp, Hindustan Zinc, Kirloskar Industries, KPIT Technologies, RBL Bank, Tata Coffee and Quess Corp are among the companies that will be announcing their September quarter earnings today.

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Published: 19 Oct 2016, 08:02 AM IST
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