Opening bell: Asian markets open mixed; HPCL, Balrampur Chini earnings today
US markets end mixed; Asia follows suit
US stocks closed mixed on Monday, after the Dow Jones industrial average hit a new all-time high, as investors evaluated the prospects of economic growth following Donald Trump’s presidential election win.
Asian markets traded mixed on Tuesday, as the Nikkei stuttered after a three-day winning streak as the yen strengthened against the dollar.
Key rules changed to mitigate cash crunch
The government has extended the usage of existing Rs500 and Rs1,000 notes for select transactions till 24 November from the earlier deadline of 14 November. Read More
Tata Motors’ independent directors refuse to pick sides in Tata-Mistry fight
Independent directors at Tata Motors Ltd refused to take sides in the Ratan Tata-Cyrus Mistry spat, saying the auto maker’s board was collectively responsible for all decisions relating to strategy and operations.
Axis Bank in talks to sell Mswipe stake
Private sector lender Axis Bank Ltd is looking to sell its approximately 8% stake in Mswipe Technologies Pvt. Ltd, a mobile payments services provider. Read more.
Aurobindo Pharma posts Rs602 crore net profit in Q2
Aurobindo Pharma Ltd said fiscal second-quarter profit rose 33.2%, beating analysts’ estimates, on higher sales of generic drugs in the US.
Hedging losses crimp Tata Motors Q2 profit
Tata Motors posted a quarterly profit but missed the analysts’ earnings estimates by a wide margin because of currency hedging losses at its UK Jaguar Land Rover unit, following the nation’s decision to leave the European Union.
KG basin issue: RIL serves arbitration notice to government
Reliance Industries Ltd (RIL) served a notice to the government demanding arbitration after the ministry of petroleum and natural gas asked it to pay $1.55 billion for allegedly producing gas from a reservoir in the Krishna Godavari basin geologically connected to that of state-owned Oil and Natural Gas Corp. Ltd. Read More
Balrampur Chini, HPCL, Container Corporation of India, Shree Renuka Sugars are among companies that will be announcing their September quarter earnings on Tuesday.