Opening bell: Asian markets open mixed; BHEL, ACC, Glenmark earnings today
In other news, Suzuki to invest $3 billion in India over three years, while NCLT allows auction of ABG Shipyard arm Western India
Asian stocks mixed in morning trade
Asian markets opened mixed. Stocks outside Japan are largely unchanged. Overnight, US stocks closed marginally lower. S&P 500 at 2,681 points is down 0.5%.
SC cancels 88 mining leases in Goa, calls for auctions
The Supreme Court cancelled 88 iron ore mining leases in Goa, dealing a blow to miners including Vedanta Ltd. The existing leases will run till 15 March, after which mining activity has to stop. Read more
One-time expense hits Cognizant earnings
Cognizant Technology Solutions Corp. managed to grow its December quarter revenue faster than analysts’ expectations, but a one-time expense due to a change in US tax policy hit profitability, reporting its first quarterly loss.
Aurobindo Pharma Q3 profit up about 3%
Aurobindo Pharma Ltd posted about 3% rise in quarterly profit, but missed analysts’ estimates. Revenue from operations rose 11%. Read more
Suzuki to invest $3 billion in India over three years
Suzuki Motor Corp. has lined up an investment of about $3 billion (Rs20,000 crore) in India over the next three years, reports The Economic Times. Of the $3 billion, $2.3 billion will be pumped in by Maruti Suzuki, rest by manufacturing arm Suzuki Motor Gujarat.
NCLT allows auction of ABG Shipyard arm Western India
The bankruptcy court has allowed the auction of properties of Western India Shipyard Ltd, a subsidiary of Gujarat-based ABG Shipyard Ltd, one of the 12 large cases referred by the Reserve Bank of India (RBI) for early bankruptcy proceedings.
Prestige Estates, HDFC to form affordable housing platform
Prestige Estates Projects Ltd said it will create an affordable housing platform with HDFC Capital Advisors Ltd, a subsidiary of HDFC Ltd, to jointly invest Rs2,500 crore in low- and mid-income housing projects.
BHEL, ACC, Glenmark earnings today
CESC Ltd, Bharat Forge Ltd, ABB India Ltd, BHEL Ltd, ACC Ltd, Glenmark Pharmaceuticals Ltd, Page Industries Ltd and Sail Ltd are some of the companies that will release their earnings for the December quarter on Thursday.
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