Opening bell: Asian stocks extend losses; SBI, Cipla earnings today
In other news, SpiceJet said its first quarter profit for the current fiscal rose 18% on higher fares and better seat occupancy
Global equities extend losses on North Korea tensions
Asian markets extended losses on Friday morning. Stocks fell as tensions between the US and North Korea sent investors into less risky assets such as gold and bonds, reports Reuters. US stocks closed lower. The S&P 500 had its biggest one-day drop in almost three months. Read more.
SpiceJet Q1 profit rises 18% on higher airfares
SpiceJet Ltd said its first quarter profit for the current fiscal rose 18% on higher fares and better seat occupancy.
Phillips Carbon Black to invest Rs300 crore to expand capacity
Phillips Carbon Black Ltd said it will be investing Rs300 crore to ramp up capacity, reports PTI. The company is also evaluating a greenfield carbon black plant in south India.
Engie in talks to partner Everest Industries for solar roofs
French energy company Engie is in talks with Everest Industries Ltd for a partnership for solar-ready roofs, reports Mint. The plan is to create a new category of solar-ready roofs.
MCX gets Sebi approval for launching gold options
The Multi Commodity Exchange Ltd (MCX) has received capital markets regulator Securities and Exchange Board of India’s (Sebi) approval to launch options on gold.
Union Bank of India Q1 profit falls nearly 30%
Union Bank of India Ltd reported nearly 30% fall in first-quarter net profit as provisions for bad loans remained high, reports Reuters.
UK trade unions split over Tata Steel’s pension plan
The biggest trade union in the UK has expressed reservations about Tata Steel Ltd’s proposed solution for pension liabilities, even as another union has backed the plan, reports Business Standard. According to the report, Tata Steel is expected to announce its plan to detach the existing pension scheme from the business on Friday.
RBI halves dividend payout to government
The Reserve Bank of India (RBI) said that it would pay Rs30,659 crore as a dividend to the government, less than half the surplus it transferred the previous year, potentially affecting the government’s fiscal math this financial year, reports Mint.
Sebi gives suspected shell companies a chance to be heard
Two days after asking stock exchanges to act against 331 listed entities suspected to be shell companies, the Securities and Exchange Board of India (Sebi) softened its stance, giving the firms an opportunity to be heard.
State Bank of India, Cipla earnings today
Bosch Ltd, BPCL Ltd, CESC Ltd, Bank of Baroda Ltd, BEML Ltd, Cipla Ltd, Godrej Industries Ltd, Hindalco Industries Ltd, JSW Energy Ltd, Sail Ltd, State Bank of India Ltd (SBI), TVS Motor Co. Ltd and Sun TV Network Ltd are some of the companies that will release their earnings for the June quarter on Friday.
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