Opening bell: Parliament session to resume today; Maruti, United Spirits in news
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- McDonald’s terminates franchise agreement with CPRL for 169 restaurants
- China expresses ‘strong dissatisfaction’ with US intellectual property probe
- University of Texas removes Confederate statues
- Tata Motors CEO says to invest Rs4,000 crore to boost car, truck sales
- Trai’s discussion paper on spectrum auction likely this week
Global equities mixed
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.