Sell-off deepens losses in global equities
Overnight, the US markets closed sharply lower. S&P 500 lost 4% to 2,648 points on rising bond yields and inflation fears. Tracking the cues, Asian stocks opened lower too.
Tata Motors Q3 profit rises but misses estimates
Tata Motors Ltd reported a near 11-fold rise in fiscal third-quarter profit as a surprise turnaround in its India business helped offset a slowdown in its Jaguar Land Rover (JLR) unit. Earnings still missed analysts’ estimates. Read more
Singtel to invest Rs2,649 crore in Bharti Telecom
Singapore Telecommunications Ltd (Singtel) will indirectly raise its stake in Bharti Airtel Ltd by investing Rs2,649 crore in Bharti Telecom Ltd, the promoter company of Airtel, through a preferential allotment of shares.
Emami to buy 26% stake in Brillare
Emami Ltd said it had concluded a deal to acquire a substantial minority stake in Brillare Science Pvt. Ltd, valuing the company at Rs75-100 crore, reports Mint. Brillare produces hair and skin care products, and sells them to professional salons.
ArcelorMittal to sell entire stake in Uttam Galva
ArcelorMittal is set to sell its entire 29% stake in Uttam Galva Steels to its co-promoter for Re1 a share, reports Business Standard. With this, ArcelorMittal will cease to be a promoter of Uttam Galva, which is undergoing insolvency proceedings, the report adds.
Hero MotoCorp, Lupin earnings today
It will be a results heavy day. Castrol India Ltd, Berger Paints Ltd, Blue Star Ltd, Dish TV India Ltd, Apollo Tyres Ltd, Hero MotoCorp Ltd, JSW Energy Ltd, Lupin Ltd, Natco Pharma Ltd, Siemens Ltd and Thermax Ltd are some of the companies that will release their earnings for the December quarter on Tuesday.