Opening Bell | Asian markets open higher; ITC, HDFC Bank in news2 min read . Updated: 21 Jul 2016, 08:48 AM IST
In other news, L&T Infotech to make stock market debut today
Asia opens in green
Stents to come under price control
The Union government added coronary stents to the national list of essential medicines 2015, effectively bringing them under price control, a move opposed by stent manufacturers, reports Mint.
Indian firms get approval for AstraZeneca’s drug
Indian drugmakers Aurobindo Pharma Ltd, Glenmark Pharmaceuticals Ltd and Sun Pharmaceutical Industries Ltd won US approval to sell generic versions of the cholesterol pill Crestor, which brings $7 million in US sales every day to AstraZeneca Plc, reports Bloomberg.
SBI, Edelweiss to launch stressed asset fund
State Bank of India Ltd (SBI) and Brookfield Asset Management Inc. propose to launch a joint venture fund to purchase distressed assets. Separately, Edelweiss Financial Services Ltd also plans to launch a distressed asset fund with a corpus ranging between $750 million and $1 billion.
UK fund to invest in India Infoline Finance
Financial services firm IIFL Holdings Ltd said CDC Group Plc, the development finance institution owned by the UK government, will invest about ₹ 1,000 crore in its unit India Infoline Finance Ltd.
L&T Infotech to make stock market debut
L&T Infotech Ltd, which recently concluded its ₹ 1,243-crore initial public offering, will make its stock market debut on Thursday.
DLF, Blackstone realign shareholding deal
DLF Ltd and Blackstone Group LP arrived at a mutual decision to divide the shareholding agreement for the seven properties the two partners own across Chennai, Bengaluru, Kochi and Indore, reports Mint.
Shree Cement to invest ₹ 600 crore in Jharkhand
Shree Cement Ltd signed an agreement with Jharkhand government to set up three million tonne annual capacity cement grinding unit, at an investment of ₹ 600 crore, reports Business Standard. The company plans to complete the project in two years.
Hindustan Zinc Q1 profit drops 47%
Hindustan Zinc Ltd reported a 47% fall in net profit at ₹ 1,037 crore for the quarter ended 30 June 2016. The company released results after the market hours on Wednesday. Read more.
Ambuja Cements gets nod to buy stake in Holcim India
The cabinet committee approved Ambuja Cements Ltd’s planned acquisition of a 24% stake in Holcim India Pvt. Ltd, paving the way for the proposed restructuring of the holding pattern of Holcim’s India units, ACC Ltd and Ambuja Cements Ltd.
ITC, HDFC Bank earnings today
Hindalco Industries Ltd, Kotak Mahindra Bank Ltd, JSW Energy Ltd, ITC Ltd, HDFC Bank Ltd, Biocon Ltd, Ashok Leyland Ltd, Cairn India Ltd and ABB India Ltd are some of the companies that will release their earnings for the June quarter today.