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Photo: Hemant Mishra/Mint
Photo: Hemant Mishra/Mint

Opening bell: Asian markets open mixed; focus on UltraTech, Zensar earnings

In other news, Sebi appoints three-member bench to adjudicate NSEL broker issue

US stocks end higher; Asian markets open mixed

US stocks closed mostly higher on Friday as investors digested commentary from key Federal Reserve officials while parsing through strong bank earnings and US economic data. The Dow Jones industrial average rose 0.22%. The S&P 500 gained 0.02% and the Nasdaq rose 0.02%.

Asian markets opened mixed on Monday as traders awaited Chinese data due this week. In Japan, the Nikkei 225 was up 0.25% in early trade, with shares receiving a boost from a relatively weaker yen.

Brics leaders commit to reviving economic growth

The world’s five largest emerging economies, which together account for 30% of the world’s economic output, committed themselves to reviving global growth by using a combination of monetary, fiscal and structural tools at the eighth Brics summit in Goa on Sunday.

ReNew Power plans to raise $500 million via offshore bonds

Green energy producer ReNew Power Ventures Pvt. Ltd plans to raise around $500 million (Rs3,300 crore) through an offshore bond sale and use the proceeds to repay part of its domestic debt. Read more.

Sebi appoints three-member bench to adjudicate NSEL broker issue

In a rare instance, the Securities and Exchange Board of India (Sebi) has appointed a three-member adjudicating bench after its initial probe found that certain brokers involved in the 2013 payments crisis at the National Spot Exchange Ltd (NSEL) had mis-sold NSEL products, reports Mint.

LIC to invest Rs6,000 crore in NHAI bonds

India’s largest institutional investor Life Insurance Corp. of India (LIC) has decided to part-fund the government’s ambitious projects till completion and initially invest up to Rs6,000 crore in bonds sold by the National Highways Authority of India (NHAI) this financial year alone.

PNB Housing Finance’s Rs2,500 crore IPO to hit markets in November

Having secured markets regulator Sebi’s nod, PNB Housing Finance is likely to launch the initial public offering (IPO) to raise Rs2,500 crore as early as next month. The leading housing finance firm had filed IPO papers with Sebi in July and got the final approval last week.

Petrol price hiked by Rs1.34 per litre; diesel price up by Rs2.37

Petrol price has been hiked by Rs.1.34 a litre, the fifth increase in two months, and diesel by Rs.2.37 a litre on the back of spike in global rates. Read more.

Essar Oil sells 98% to Rosneft, Trafigura and UCP

Ruia’s promoted Essar Oil sealed a deal with Russia’s Rosneft, United Capital Partners and Trafigura Group Pte. to sell 98% in its most priced asset, the 20 million tonnes per annum Vadinar refinery and Vadinar port in Gujarat. Read more.

NIIT Technologies’s Q2 profit falls 9% to 64.6 crore; revenue up 2%

IT firm NIIT Technologies Ltd has reported better-than-expected revenue of Rs.692.2 crore in the September quarter helped by growth in its banking, financial services and insurance business (BFSI) business from the US.

Infosys revises salaries of CFO, COO and other key executives

The country’s second largest IT firm Infosys Ltd has revised the pay packages of its top leadership, including chief operating officer U.B. Pravin Rao and chief financial officer M.D. Ranganath. Read more.

Cipla signs deal to set up first biosimilars unit in South Africa

Indian pharmaceutical major Cipla has signed a memorandum of agreement for South Africa’s first biosimilars manufacturing facility to be set up at a cost of nearly $91 million.

Earnings corner

DHFL, Lakshmi Vilas Bank, UltraTech Cement, Orient Papers, Zenzar Technologies are among the companies that will be announcing their September quarter results today.

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