Opening bell: Asian stocks open mixed; Unichem Labs, DLF, oil firms in news
Asian stocks open mixed
Asian markets opened mixed. According to Bloomberg, traders are keeping an eye on US President Donald Trump’s first trip to the region and assessing the fallout from the anti-corruption crackdown in Saudi Arabia. Over the weekend, US stocks closed slightly higher. S&P 500 at 2,587 points is up 0.31%.
Unichem to return 50% of proceeds from Torrent deal to shareholders
Unichem Laboratories Ltd plans to return to its shareholders more than 50% of net proceeds it will receive from the sale of domestic formulations business to Torrent Pharmaceuticals Ltd, reports Mint.
Govt to give 60% stake in ONGC, OIL fields to private companies
The oil ministry is expected to approach the Union cabinet to allow private companies take 60% stake in producing oil and gas fields of national oil companies, ONGC Ltd and Oil India Ltd, with the view that they would raise production above the baseline estimate, reports PTI.
CCI clears GIC’s Rs9,000 crore deal with DLF’s rental arm
The Competition Commission of India (CCI) has approved Singapore’s sovereign wealth fund GIC’s plan to acquire 33% stake in DLF Cyber City Developers for Rs8,900 crore, reports PTI.
Most stocks listed this year trading below issue share price
India’s primary market has been the most vibrant in 2017, with companies raising a record amount, but nearly one-third of these stocks are trading below their issue price, reports Mint.
GST may see most comprehensive tweak since its launch
The goods and services tax (GST) could be in for a revamp that’s more comprehensive than the tweaks that have been made thus far to iron out compliance problems, reports The Economic Times.
Just Dial, KEC International earnings today
Indian Bank Ltd, L&T Infotech Ltd, Just Dial Ltd, KEC International Ltd, Rural Electrification Corp. Ltd, Petronet LNG Ltd and Thomas Cook (India) Ltd are some of the companies that will release their earnings for the September quarter on Monday.
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