Opening bell: US markets fall, Asia follows suit; M&M, SBI, Tata Steel earnings today
In other news, Fortis Healthcare promoters resign from board, while Shoppers Stop aims to become debt-free in FY19
Global equites tumble again
Fortis Healthcare promoters resign from board
Malvinder Mohan Singh, executive chairman, and Shivinder Mohan Singh, non-executive vice-chairman of Fortis healthcare, have resigned from their posts. Both tendered their resignation from the directorships of the company.
Sail swings to profit in December quarter
Steel Authority of India Ltd (Sail) posted a profit for the December quarter, snapping 10 straight quarters of losses, reports Reuters. Revenue from operations rose 21.4%.
Shoppers Stop aims to become debt-free in FY19
Shoppers Stop Ltd plans to become debt-free in 2018-19, which would allow it to focus more aggressively on strategies such as ramping up contribution from its private labels to overall revenue and expanding its footprint in the cosmetics segment, reports Mint.
Allahabad Bank share sale: staff allege coercion
The management of Allahabad Bank is said to have issued a diktat to all its employees to participate in an ongoing share sale to employees. The bank is looking to sell 50 million shares through an employee share purchase scheme. Read more
Mahindra & Mahindra, SBI, Tata Steel earnings today
It will be a results heavy day. BPCL Ltd, Bank of Baroda Ltd, Bata India Ltd, Gillette India Ltd, HPCL Ltd, Mahindra & Mahindra Ltd (M&M), ONGC Ltd, Marico Ltd, State Bank of India Ltd (SBI) and Tata Steel Ltd are some of the companies that will release their earnings for the December quarter on Friday.