BackOpening bell: Asian markets open higher, IDFC, HDFC, Tata Steel, LIC in focus
IDFC and Shriram Group unlikely to extend exclusive negotiation period for their proposed merger, while HDFC is planning an IPO for its mutual fund unit in 2018
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Asian stocks gain in morning trade
Asian markets opened higher. Stocks gained on better than expected US growth data, reports Bloomberg. Over the weekend, the US markets closed with gains. S&P 500 at 2,581 is up 0.81%.
Exclusivity period for IDFC-Shriram merger talks unlikely to be extended
IDFC Ltd and the Shriram Group are unlikely to extend the exclusive negotiation period for their proposed merger which is ending on 8 November, reports Mint.
HDFC planning IPO of mutual fund unit next year
Housing Development Finance Corp. Ltd (HDFC) is looking to list its mutual fund unit in 2018 and is also evaluating a plan to start a distressed asset fund, said chairman Deepak Parekh.
Adani Transmission Q2 net profit falls 33%
Adani Transmission Ltd on Saturday said its consolidated net profit after tax fell by 33% to Rs66.69 crore in the second quarter ended on September, reports PTI.
Q2 earnings: Sales rise but consumer demand still weak
Indian companies reported a slight improvement in business environment in the September quarter from the preceding three months amid lingering issues surrounding the goods and services tax (GST) and depressed rural demand, reports Mint.
Panel proposes lower GST rates for small businesses
A ministerial panel has recommended lowering the goods and services tax (GST) rates for small businesses and extending the benefit to more such units in an attempt to reduce their tax burden and improve compliance, reports Mint.
HDFC, Tata Steel earnings today
Bharat Electronics Ltd, HDFC Ltd, IDFC Ltd, Bharti Infratel Ltd, Lupin Ltd, LIC Housing Finance Ltd, Marico Ltd, UPL Ltd, Sintex Industries Ltd, Tata Steel Ltd and Wockhardt Ltd are some of the companies that will release their earnings for the September quarter on Monday.
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