BackOpening bell: Asian markets open lower; Sun Pharma, Coal India, IndiGo in news
In other news, India's trade deficit hits 35-month high as exports decline, while the govt seeks special dividend from RBI for bank recapitalisation
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Asian stocks track US market losses
Asian markets opened lower tracking the overnight losses in the US stocks. Equities fell on concerns about sustainability of commodity prices. S&P 500 at 2,578 points is down 0.23%.
India’s trade deficit hits 35-month high as exports decline
India’s merchandise exports declined for the first time in 14 months in October as exporters struggled with a liquidity crunch because of delayed refunds under the goods and services tax regime, leading to highest trade deficit in 35 months, reports Mint.
Govt seeks special dividend from RBI for bank recapitalisation
The government has sought a special dividend from the Reserve Bank of India (RBI) to fund a part of its Rs2.11-trillion plan to recapitalise public sector banks, reports Business Standard.
Sun Pharma’s Q2 profit falls 59.7% on weak US sales
Sun Pharmaceutical Industries Ltd reported a 59.7% decline in fiscal-second quarter profit because of weak US sales.
Godrej Industries’s Q2 profit rises 53% to Rs95 crore
Godrej Industries Ltd on Tuesday said consolidated net profit in the September quarter rose 53% from a year ago to Rs95 crore on the back of growth in the agriculture, consumer and property business.
Coal India in talks with railways to hike rake loading
Coal India Ltd is talking to the railways to increase rake loading from an average of 216 so far since April to 250 by the end of the fiscal year, as it seeks to meet increased demand, reports The Economic Times.
Malvinder Mohan Singh steps down from Religare Enterprises
Malvinder Mohan Singh stepped down from the post of non-executive chairman at Religare Enterprises, reports The Economic Times. The company named S. Lakshminarayanan to take over the position from Singh, the report adds.
IndiGo challenges Delhi airport directive to shift operations to Terminal 2
IndiGo, run by Interglobe Aviation Ltd, approached the Delhi high court, challenging a Delhi International Airport Pvt. Ltd decision relating to shifting a part of the airline’s operations to a new terminal, reports Mint.
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