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Business News/ Market / Stock-market-news/  Opening bell: Asia opens lower; Cummins India, GAIL, Jet Airways in focus
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Opening bell: Asia opens lower; Cummins India, GAIL, Jet Airways in focus

In other news, Tata Motors' March quarter profit fell by half from a year ago to Rs2,175.16 as vehicle sales declines at JLR

Asian stocks fell, with investors cautious over fresh trade-related developments as the trade dispute between the US and China remained in focus. Photo: PTIPremium
Asian stocks fell, with investors cautious over fresh trade-related developments as the trade dispute between the US and China remained in focus. Photo: PTI

US stocks end higher; Asian markets see a negative opening

US stocks closed slightly higher on Wednesday—paring earlier losses—after the Federal Reserve said it would be comfortable letting inflation temporarily run above its inflation target.

Asian stocks traded lower on Thursday, with investors cautious over fresh trade-related developments as the trade dispute between the US and China remained in focus.

Tata Motors Q4 profit halves to Rs2,125 crore on one-off charge, expenses

Tata Motors Ltd’s Q4 profit halved, missing analysts’ estimates due to higher expenses and a one-time impairment charge for certain product development programmes, the Jaguar Land Rover (JLR) parent said.

Cabinet clears ordinance for amendments to bankruptcy code

The Cabinet approved promulgation of an ordinance to amend the 16-month-old Insolvency and Bankruptcy Code (IBC), which proposes to classify home buyers as “financial creditors" at par with lenders to help them quickly get refunds from defaulting companies.

TCS expands operations in Florida as part of Transamerica deal

India’s largest IT services firm Tata Consultancy Services Ltd (TCS) said it has expanded operations in Florida, US, with over 430 employees joining the company as part of its deal with Transamerica.

Jet Airways reports Rs1,036 crore Q4 loss

Jet Airways (India) Ltd reported a loss of Rs1,036 crore, , excluding those of its units, in the March quarter, as the airline saw its revenue decline and costs increase significantly during the quarter.

India climbs one spot to 44th in competitive rankings, China at 13

As the Narendra Modi government completes four years this month, India continues to perform modestly in the global competitive rankings, rising one place to 44 this year out of 63 countries ranked by the IMD World Competitiveness Center.

Yes Bank recovers 66% of original claim filed for Bhushan Steel

Private sector lender Yes Bank has recovered 66% of the original claim filed for Rs325 crore after the sale of Bhushan Steel to Tata Steel under the insolvency resolution process.

Fortis Healthcare investors oust fourth director from board

Investors in India’s Fortis Healthcare Ltd voted out a fourth director from the hospital operator’s board, it said, expressing displeasure over the company’s handling of offers of investment.

Earnings Corner

Cummins India, GAIL, Glaxo SmithKline, NCC and Pidilite Industries are among the companies that will be announcing their March quarter earnings today.

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Published: 24 May 2018, 08:16 AM IST
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