Opening bell: Asian markets open higher; HDFC, Novartis India in news
US stocks end higher; Asian markets follow suit
US stocks rose to all-time highs on Wednesday as a gain in chip stocks propelled the tech sector higher.
Major Asian markets traded higher on Thursday, following the stronger lead seen on Wall Street. Investors in the region will also keep an eye on Caixin’s China services and composite PMI later in the morning after the Caixin manufacturing PMI beat estimates and the country’s official PMI met expectations.
RBI to issue new Rs10 notes in chocolate brown colour
The Reserve Bank of India (RBI) will shortly issue new Rs10 notes under the Mahatma Gandhi series. The central bank has already printed around 1 billion pieces of the new Rs10 note.
HDFC to keep Rs1,575 crore from HDFC Standard Life IPO as special provision
Housing Development and Finance Corp. Ltd (HDFC) will make a special provision of Rs1,575 crore, using a part of the proceeds from the initial public offering (IPO) of HDFC Standard Life Insurance.
Novartis’s diclofinac injection flagged by health ministry panel
A health ministry panel has raised concerns about the safety of painkiller injection diclofenac marketed by drug maker Novartis India and made by Themis Medicare Ltd, after Troikaa Pharmaceuticals alleged that the painkiller injection contains Transcutol, which damages kidneys.
Reliance Industries likely to see big cash flow boost, says CLSA report
Reliance Industries Ltd is likely to see a big cash-flow boost as projects of over $40 billion start to deliver in full swing this fiscal while capex falls, international brokerage house CLSA said on Wednesday.
Sebi allows commodity bourses to raise transaction charges
Capital markets regulator Securities and Exchange Board of India (Sebi) has allowed the commodity derivative exchanges to keep the highest transaction charge in turnover slab of any contract at a maximum of double the lowest charge in the same segment.
New launches boost Skoda volume 30% in 2017
Volkswagen Group company Skoda said its sales spiked 30% to 17,438 units in 2017 over the previous year, driven by the latest launch, the Kodiaq SUV, besides rollout of three refreshed versions of its popular sedans.
Tata Motors MD tells staff to bolster accountability, performance
Homegrown auto major Tata Motors Ltd managing director and chief executive officer Guenter Butschek has called employees to bolster accountability and drive performance within the organisation as the firm seeks to build on the positives of its turnaround drive that is expected to be completed by March. Read more
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