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Opening bell: Asian markets open higher; Dish TV, Biocon in focus

LiveMint logoLiveMint 17-08-2017 Harsha Jethmalani

US stocks end higher; Asian markets clock gains

US equities closed higher Wednesday but backlash from the business community against President Donald Trump kept gains in check.

Asian markets made slight gains in early Thursday trade after a rally in the dollar was halted on political turbulence stateside, while investors digested the Wednesday release of the US Federal Reserve’s minutes.

Cabinet approves new mechanism to speed up strategic disinvestment

To accelerate strategic disinvestments in central public sector enterprises (CPSEs), the cabinet committee on economic affairs (CCEA) mandated a panel headed by finance minister Arun Jaitley to oversee the asset sale process.

RBI minutes show MPC members warned that inflation could accelerate

The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) members said easing inflation had supported the need for a rate cut at its August meeting, but warned consumer prices could start accelerating, minutes from its last meeting showed.

Tax incentives to northeastern, Himalayan states extended till March 2027

Industries in the northeastern and Himalayan states will continue to get tax exemption till March 2027, albeit as refund, under the current goods and services tax (GST) regime which was rolled out on 1 July, finance minister Arun Jaitley said.

Biocon withdraws application for breast cancer biosimilars

Shares of pharma major Biocon Ltd took a hammering on Wednesday after it withdrew its application for Trastuzumab and Pegfilgrastim, biosimilars for breast cancer, following recent CGMP (current good manufacturing practices) observations issued by the European regulatory authorities.

USFDA issues EIR for Granules India’s Gagillapur plant

Drug firm Granules India said the US health regulator has issued establishment inspection report for its Gagillapur plant in Hyderabad without any observations.

GMR finds buyer for its barge-mounted power plant

The GMR Group, which owns a 220 MW gas based power plant in Andhra Pradesh’s Kakinada, will sell its barge-mounted power plant to a buyer for $63 million.

Earnings Corner

Dish TV and Somany Ceramics are among the companies that will announce their June quarter earnings on Thursday.

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