Opening bell: Asian markets open lower; Coal India, L&T in news
In other news, Aurobindo Pharma eyes 40% rise in US injectables business, while DLF debt rises Rs900 crore to Rs26,800 crore in September quarter
Asian markets drop in morning trade
Asian markets opened with losses. Stocks fell in the morning trade, tracking the losses in the US markets. Over the weekend, US markets closed lower. S&P 500 at 2,582 points is down 0.09%.
Coal India Q2 profit falls by 40% to Rs368.88 crore
Coal India Ltd has reported lower profits for the sixth straight quarter. In the September quarter, it reported nearly 40% fall in its consolidated net profit to Rs368.88 crore compared to Rs612.44 crore in the corresponding quarter last fiscal year, reports PTI.
Larsen & Toubro Q2 profit jumps 27%
Larsen & Toubro Ltd (L&T) reported a higher-than-expected 27% rise in second quarter net profit, helped by a one-off gain from the sale of a subsidiary, reports Reuters.
Adani close to acquiring Reliance Infra’s Mumbai business
Adani Transmission is likely to clinch a deal of Rs13,000-14,000 crore with Reliance Infrastructure to acquire the latter’s Mumbai power business much before the January 2018 deadline, reports PTI.
Aurobindo Pharma eyes 40% rise in US injectables business
Drug maker Aurobindo Pharma Ltd expects its US injectables business to grow at least 40% this financial year thanks to new launches and higher sales from existing products, reports Mint.
DLF debt rises Rs900 crore to Rs26,800 crore in September quarter
Net debt of DLF Ltd rose by Rs900 crore during the September quarter to Rs26,800 crore and the borrowing could rise further to meet the construction cost of its ongoing projects, reports PTI.
Differences with lenders may hit RCom’s SDR plan
The strategic debt restructuring (SDR) plans of Reliance Communications Ltd may have hit a road block, with the company and its lenders sparring over the treatment of loans given by group entities to the telecom company, reports The Economic Times.
GST collections gain momentum
The initial revenue shock following the rollout of the goods and services tax (GST) seems to have abated, with states steadily improving collections aided by relaxations in deadline, waiver of late payment fee and steps to encourage compliance, reports Mint.
Idea Cellular, NTPC earnings today
Adani Enterprises Ltd, Adani Ports and SEZ Ltd, Gillette India Ltd, The Indian Hotels Co. Ltd, Idea Cellular Ltd and NTPC Ltd are some of the companies that will release their earnings for the September quarter on Monday.
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