Photo: Mint
Photo: Mint

Opening bell: Asian markets open subdued; Airtel, HCL Tech in focus

In other news, Sun Pharmaceutical Industries Ltd is looking to sell its US subsidiary, Ohm Laboratories

US markets closed lower. S&P 500 lost 0.27% to 2,265 as investors waited for clarity on President Donald Trump’s policies. Tracking the cues Asian markets opened subdued. Read more

HUL results reveal demonetisation impact

Hindustan Unilever Ltd’s (HUL’s) December quarter earnings show the extent to which demonetization has hit consumption growth in the economy. Sales volume declined 4% from a year ago. Net profit was higher because of one-time gains.

Sun Pharma to sell US arm Ohm Laboratories

Sun Pharmaceutical Industries Ltd is looking to sell its US subsidiary, Ohm Laboratories, as it looks to consolidate its operations in the country, reports Business Standard citing a television report. Ohm Laboratories has manufacturing facility in New Jersey, the report adds.

Bharti Infratel profit rises 25% to Rs620 crore

Bharti Infratel Ltd reported a 25% rise in net profit to Rs620 crore for the December quarter from Rs495 crore a year ago. Revenue increased 10% to Rs3,401 crore during the quarter from Rs3,106 crore a year ago.

Diageo may have to make another open offer in USL

Diageo Plc may have to make another open offer for United Spirits Ltd shareholders, reports Business Standard. According to the report, the severance package paid to Vijay Mallya by Diageo resulted in change of ownership and can trigger open-offer under takeover regulations.

Government to sell 10% in MOIL

Government plans to sell 10% in state-owned manganese miner MOIL Ltd on Tuesday at a floor price of 365 a share, reports PTI. The floor price is at 4.6% discount to Monday’s closing price of 382.7 on the BSE.

Sebi seeks forensic audit of MCX’s trading software

The Securities and Exchange Board of India (Sebi) has directed the board of Multi Commodity Exchange of India Ltd (MCX) to commission a special audit of its trading software, reports Mint. The software is owned and operated by Financial Technologies India Ltd, renamed 63 Moons Technologies Ltd.

CBI arrests former IDBI Bank chairman, 7 others

The Central Bureau of Investigation (CBI) evening arrested a former chairman of IDBI Bank Ltd, three other bank officials and four Kingfisher Airlines executives in an alleged money laundering case involving Vijay Mallya.

HCL Tech, Zee, Airtel earnings today

It will be a results heavy day. HCL Technologies Ltd, Zee Entertainment Enterprises Ltd, Wockhardt Ltd, TVS Motor Co Ltd, IDBI Bank Ltd, ICICI Prudential Life Insurance Co Ltd, HDFC Bank Ltd, and Bharti Airtel Ltd are some of the companies that will release their earnings for the December quarter today.

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