Opening bell: Parliament session to resume today; Maruti, United Spirits in news

In other news, India’s monsoon may escape the effects of a possible El Nino as it may not develop until later this year

Photo: Mint
Photo: Mint

Global equities mixed

US markets closed lower. S&P 500 lost 0.23% to 2,362 points after strong jobs data report made interest rate hike a “near certainty”. Tracking the cues, markets outside Japan opened mixed in Asia.

El Nino seen arriving too late to hurt India’s monsoon rains

India’s monsoon may escape the effects of a possible El Nino as it may not develop until later this year, reports Bloomberg. A late El Nino may miss India’s monsoon season that runs from June through September.

Parliament to resume budget session today

The budget session of Parliament will resume on Thursday even as the political class waits with bated breath for the outcome of the five assembly elections.

Qatar Airways to start fully-owned airline in India

In a potential competition to domestic carriers, Qatar Airways said it will start a fully owned airline in India, reports Mint. The airline is British Airways-owner IAG’s biggest shareholder. It also owns stakes in Latam Airlines Group SA and Meridiana Fly SpA.

United Spirits bets on relaunches for market share gains

India’s largest liquor company United Spirits Ltd is betting on relaunches of its top whisky brands and brand extensions to drive growth in a market that has been sluggish for more than five years, reports Mint.

Maruti Suzuki lines up new cars for 2017-18

Maruti Suzuki India Ltd is gearing up to introduce four new products in 2017-18, reports PTI. Of them, two will be new models and two will be upgrades.

Canadian pension funds buy 1.5% stake in Kotak Bank

Canadian pension funds Canada Pension Plan Investment Board and Caisse de Depot Quebec have bought 1.5% stake in Kotak Mahindra Bank Ltd from Uday Kotak, its executive vice-chairman and managing director.

MRPL may sell shares to comply with rules

Mangalore Refinery and Petrochemicals Ltd (MRPL) may sell shares to comply with rules that mandate listed companies to have at least 25% of their equity with the public.

Pricing power returns for paper makers

Lastly, most paper companies raised prices at least twice since January believing return of demand-supply balance, reports Business Standard. According to the report, higher price for wood pulp globally has made imports costlier.

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