Opening Bell | Asian markets open mixed; ITC, Bhel, ONGC in news
In other news, State Bank of India to raise $1 billion through AT1 bonds
US markets end higher; Asia opens mixed
US stocks closed higher on Tuesday, despite shockingly weak economic data while keeping an eye on oil prices. The Dow Jones industrial average rose 0.25%, to end 18,538.12 points, the S&P 500 gained 0.3%, to close at 2,186.48 points. The Nasdaq closed 0.5% higher, at 5,275.91 points.
Asian shares opened mixed on Wednesday, shrugging off Wall Street’s higher close on “bad news is good news". Japan’s Nikkei 225 fell 0.87% in early Asian trade, while the yen strengthened against the dollar
Delhi high court stops Britannia from selling its digestive biscuits
In an interim relief to ITC Ltd, the Delhi high court restrained rival Britannia Industries Ltd from selling its digestive biscuits NutriChoice Zero. “Britannia is granted four weeks to phase out existing stocks and maintain accounts," justice S. Muralidhar said, while passing the injunction order, reports Mint.
SBI to raise $1 billion through AT1 bonds
State Bank of India (SBI) will raise $1 billion through a sale of dollar-denominated perpetual bonds to foreign investors, becoming the first Indian lender to sell such securities overseas. Read more.
Vedanta shareholders approve merger with Cairn
Mining conglomerate Vedanta Resources Plc said its shareholders have approved the merger of group firms Vedanta Ltd and Cairn India Ltd. The development brings the firm led by Anil Agarwal a step closer to salvage merger of the cash-rich oil firm with its debt-laden parent Vedanta.
Glenmark announces discovery and initiation of clinical development of novel anti-cancer drug
Glenmark Pharmaceuticals Ltd has discovered a novel drug candidate for the treatment of cancer and plans to conduct clinical trials. The experimental drug, GBR 1372, kills cancer cells by redirecting immune response to destroy cancer cells. Read more.
Lupin gets tentative nod from USFDA for Silodosin capsules
Drug firm Lupin has received tentative approval from the US health regulator for generic Silodosin capsules used for treatment of non-cancerous enlargement of the prostate gland.
Tata Motors bags order for 5,000 buses
Tata Motors has won orders to supply 5,000 buses worth Rs.900 crore to 25 state transport units during April-August. This is an 80% jump from the same period a year ago and is the highest in four years. Read more.
SUUTI stake sale: Govt eases rules for bankers for ITC, L&T,Axis
Merchant bankers managing sale of government stake in Axis Bank, L&T and ITC held through SUUTI can enter into a competing transaction with a private company provided they notify SUUTI as and when they enter into any conflict of interest situation.
Earnings corner
Bhel, GAIL, ONGC and SpiceJet are among the companies that will be announcing their June quarter earnings today.
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