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Opening bell: Asian markets open higher; Glenmark Pharma, Asian Paints in focus

LiveMint logoLiveMint 11-05-2017 Harsha Jethmalani

US markets end mixed; Asian equities open higher

US equities closed mixed Wednesday as investors digested President Donald Trump’s firing of FBI director James Comey.

Asian indices were cautiously higher in early Thursday trade, following a mixed close stateside as investors noted Snap’s $2.2 billion loss.

Sensex, Nifty make a splash, hit record highs on rain forecast

Indian stock indices closed at new lifetime highs on Wednesday as prospects of monsoon rains exceeding earlier expectations spurred investors to buy shares of companies likely to benefit from higher consumption, shrugging aside concerns over corporate earnings.

Hero MotoCorp Q4 profit declines 14% on discounts for BS III vehicles

Hero MotoCorp Ltd’s fiscal-fourth quarter profit fell 14% as India’s largest motorcycle maker sold Bharat Stage III compliant two-wheelers at a discount to clear inventory, following a court directive.

Century Textiles looks to exit paper business

Century Textiles and Industries Ltd (CTIL), a part of the B.K. Birla Group, is in advanced talks to sell its paper business to JK Paper Ltd in a deal valuing the paper division at close to Rs5,000 crore by enterprise value, reports Mint.

Dish TV and Videocon d2h merger gets CCI approval

The Competition Commission of India (CCI) has approved the merger between Zee Entertainment Enterprises Ltd’s DTH platform Dish TV and Videocon d2h, the direct-to-home television arm of Videocon Industries Ltd.

Kotak Mahindra Bank to launch $867 million share sale as early as this week: IFR

Kotak Mahindra Bank Ltd plans to launch a qualified institutional placement of shares to raise about Rs5,600 crore ($867 million) as early as this week, IFR reported, citing people close to the plans.

Solar power tariffs fall to new low of Rs2.62 per unit

India’s solar power tariffs fell to a new low of Rs2.62 per unit during the auction of a 250 megawatt (MW) capacity at Bhadla in Rajasthan.

Crystal Crop plans IPO, eyes 20% revenue growth

Agro-chemical firm Crystal Crop Protection expects 20% increase in turnover this fiscal year at about Rs1,600 crore and plans to launch an initial public offer (IPO) early 2018 to raise funds for expansion.

India’s gold imports jump over four times in April: report

Gold imports by India gained more than four-fold in April driven by jewellers restocking in anticipation of a recovery in sales during the wedding season that will last till mid-June.

SoftBank losses from Indian start-ups Snapdeal, Ola at $1.4 billion

Japanese investor SoftBank Group Corp. has written down the value of its investments in online marketplace Snapdeal and cab aggregator Ola by $1.4 billion.

Earnings corner

Asian Paints, Glenmark Pharmaceuticals, ICRA Ltd, GSK Consumer Healthcare are among the companies that will be announcing their March quarter earnings on Thursday.

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