Opening bell: Asian markets open higher, PNB, Titan earnings in focus
US markets end higher; Asian markets follow suit
US equities closed mostly higher on Thursday after a wild session as investors examined the details of the tax-reform plan proposed by Republicans.
Asian shares rose in early trade on Friday after US stocks closed mixed. Investors digested the release of House Republicans’ tax-reform plan and President Trump’s nomination of Jerome Powell, Federal Reserve Governor, to be the next head of the central bank.
Suzuki frets about India’s electric shift despite Maruti sales surge
Toshihiro Suzuki, chief executive of Suzuki Motor Corp. and director on the board of India’s largest car maker, warned of serious downside risk to Maruti Suzuki India Ltd on account of a policy induced push to electric vehicles in the country.
Bank of England hikes interest rate for first time in over a decade
Bank of England policy makers raised interest rates for the first time in a decade, yet showed concern for Britain’s Brexit-dented economy by indicating that another increase isn’t imminent.
Airtel earmarks Rs25,000 crore capex in FY18 for 4G network expansion
Telecom major Bharti Airtel Ltd said that it will invest Rs25,000 crore in expanding and strengthening its 4G network during the ongoing fiscal year instead of Rs20,000 crore announced earlier.
Mahindra Logistics IPO subscribed 8 times on last day
India’s Mahindra Logistics Ltd’s initial public offering of shares to raise Rs830 crore ($128.5 million) was subscribed nearly eight times on the last day of the sale on Thursday, stock exchange data showed.
New India Assurance IPO subscribed 1.07 times so far on second day
The initial public offering (IPO) of state-owned general insurance firm The New India Assurance Co. Ltd was subscribed 1.07 times so far on the second day of the share sale on Thursday.
PNB, Hindalco, Tata Power, Titan and UCO Bank are among the companies that will be announcing their September quarter earnings today.