Opening bell: Asian markets open lower; Bajaj Finance, Airtel, Wipro in news
Asian stocks dip in morning trade
Asian markets opened lower. Equities took a breather as investors awaited more data to assess strength of global economy. Overnight, the US markets closed slightly higher supported by upbeat earnings. S&P 500 at 2,477 is up 0.05%.
Baba Ramdev to launch Patanjali branded clothes
Baba Ramdev’s Patanjali Ayurved Ltd is preparing to launch its “swadeshi” line of clothes for men, women and children by April, reports Mint. The sales target for the first year is set at Rs5,000 crore.
Honda aims to become number one two-wheeler maker by 2020
Honda Motorcycle & Scooter India expects to become number one two-wheeler maker by 2020 as it expects BS VI emission norms implementation to give it competitive advantage, reports The Economic Times.
Bajaj Finance to buy 11% stake in Mobikwik
Bajaj Finance Ltd said it will buy up to nearly 11% stake in mobile wallet company Mobikwik for about Rs225 crore, reports PTI.
Wipro invests in software testing company
Wipro Ltd said it has invested an undisclosed sum in software testing company Tricentis, reports PTI.
Airtel may sell 3% stake in Bharti Infratel
Bharti Airtel Ltd is considering selling about a 3% stake in its tower unit, Bharti Infratel, through an institutional share sale, reports Bloomberg.
Jet Airways pilots’ union to meet management today
Jet Airways pilots’ union, National Aviators’ Guild, is likely to hold talks with the airline management on Thursday on the issue of steep reduction in the salaries of junior trainee pilots, reports PTI.
Thyssenkrupp said to consider breakup as plan B to Tata Steel Europe
Thyssenkrupp AG is considering a radical breakup plan as a possible alternative to the proposed combination of its European steel operations with India’s Tata Steel Europe Ltd, reports Bloomberg.
Emami eyes acquisitions to grow personal care business
Emami Ltd is open to acquisitions to expand its healthcare and personal care products businesses, reports Business Standard.
After LPG, government looking to end kerosene subsidy
According to The Economic Times, the government has asked the state oil companies to keep raising prices of subsidised kerosene by 25 paise every fortnight until the subsidy is eliminated, or until further orders.
CAG finds fault in Mangalore Refinery project implementation
The Comptroller and Auditor General has reported deficiencies in planning and execution of capital projects, operation of processing units, and support facilities, leading to cost and time overruns at Mangalore Refinery and Petrochemicals Ltd, reports The Hindu Business Line.
Titan, Colgate Palmolive earnings today
Titan Co. Ltd, Jyothy Laboratories Ltd, Indian Oil Corp. Ltd, ICRA Ltd, Cummins India Ltd, Colgate Palmolive (India) Ltd, Ceat Ltd, and BSE Ltd are some of the companies that will release their earnings for the June quarter on Thursday.