Opening bell: Asian markets open higher; Nestle, RCom, Glenmark in news
Maggi fails lab test in Uttar Pradesh, fine imposed on Nestle India, while Reliance Communications to sell DTH arm Reliance BIG TV
Asian markets track US market gains
Asian stocks opened with gains, tracking the positive closing in the US markets. Stocks gained on optimism on earnings and global economy.
Maggi fails lab test in Uttar Pradesh, Nestle India imposed fine
The district administration of Shahjahanpur, Uttar Pradesh, has slapped a fine on Nestle India and its distributors after its popular noodles brand Maggi allegedly failed to pass the lab test, even as the company questioned the findings, reports PTI.
RCom to sell DTH arm Reliance BIG TV
Reliance Communications (RCom) said it will sell its direct-to-home (DTH) subsidiary Reliance BIG TV Ltd to Pantel Technologies Pvt. Ltd and Veecon Media and Television Ltd.
Coal India weighs salary hike for employees
Coal India Ltd is considering hiking salary of its executives, which may cost the company about Rs800 crore, reports PTI.
Glenmark plant gets US FDA observations
The US Food and Drug Administration (US FDA) has found deficiencies in manufacturing practices at Glenmark’s plant in Baddi and has issued seven adverse observations after an audit earlier this month, reports Business Standard.
Govt may delay implementation of fiscal consolidation roadmap
The finance ministry may have pushed back implementing the new fiscal consolidation roadmap recommended by the N.K. Singh committee by two years after it asked the 15th Finance Commission to be chaired by Singh to dwell on the same, reports Mint.
GST may cloud GDP data for September quarter
The September quarter GDP growth data, which will be released on Thursday, is expected to show an acceleration in economic growth from 5.7% in the June quarter, but the data may be clouded by the goods and services tax (GST) rollout, reports Mint.
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