Opening Bell: Asian markets open lower; Nalco, IT stocks in focus
Asian stocks track US market losses
US markets closed lower. S&P 500 lost 0.26% to 2,342 points as political uncertainty weighed on equities. Tracking the cues, Asian markets opened lower.
Donald Trump calls for tighter H1B visa programme
US President Donald Trump has ordered federal agencies to look at tightening the H1B visa programme used to bring high-skilled foreign workers to the US, reports Reuters. Tight regulations can raise costs and slow business for Indian IT services firms, reports Business Standard.
TCS misses both revenue and profit estimates
Tata Consultancy Services Ltd (TCS) has missed analysts’ estimates for both revenue and profit in the fourth fiscal quarter. Read more.
RBI asks banks to closely monitor telecom loans
The Reserve Bank of India (RBI) has advised banks to consider setting aside higher provisions even for good loans in stressed sectors. The advisory means the central bank is worried that banks have not fully recognized their bad loans, reports Mint.
Govt to sell 10% stake in Nalco
The government plans to sell 10% stake in National Aluminium Co. Ltd (Nalco) on Wednesday. The issue price has been set at Rs67 a share, a discount to Tuesday’s closing price of Rs73.45 per share.
Nestle plans to bring more global products to India
Nestlé India Ltd, known for its Maggi instant noodles, is considering options to introduce more international products in the country, reports Business Standard.
Berger Paints to enter new product categories
Berger Paints India Ltd is planning to enter new product categories, reports The Hindu Business Line. According to the report, the company is eyeing an entry into auto-refinish and marine paints through joint ventures.
IndusInd Bank, Yes Bank earnings today
IndusInd Bank Ltd and Yes Bank Ltd are some of the notable companies that will release their earnings for the March quarter on Wednesday.