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Opening bell: Asian markets open lower; Nestle India, Dr Reddy’s, Titan in focus

LiveMint logoLiveMint 12-05-2017 Harsha Jethmalani

US equities end lower; Asia follows suit

US equities ended lower on Thursday as retail stocks fell sharply.

Markets in Asia got off to a weaker start early Friday, following the lower close stateside on weak earnings from US retailer Macy’s and ahead of the G7 finance meeting in Italy.

Top 7 IT firms including Infosys, Wipro to lay off at least 56,000 employees this year

Information technology (IT) companies in India are in the midst of the industry’s largest retrenchment drive, with seven of the biggest IT firms planning to ask at least 56,000 engineers to leave this year.

SBI denies reports of Rs25 transaction charges on regular ATM withdrawals

State Bank of India (SBI) has denied reports that it has increased service charges to Rs25 on regular ATM transactions.

SBI will introduce a new facility that would enable withdrawal of cash through ATMs using the bank’s mobile wallet. The bank will charge Rs25 on every cash withdrawal from the mobile wallet via ATMs.

HCL Q4 net profit rises 12.3% to Rs2,325 crore

Noida-based HCL Technologies Ltd reported a 12.3% sequential growth in net profit at Rs2,325 crore in the quarter ending March, as it added more clients in the quarter and focused on growth areas like digital, cloud, security and internet of things (IoT).

Reliance Infra wins Rs2,950 cr arbitration award against DMRC over airport metro

Reliance Infrastructure (RInfra) said an arbitral tribunal has awarded its arm Delhi Airport Metro Express Private Limited (DAMEPL) a compensation of Rs2,950 crore against the Delhi Metro Rail Corporation (DMRC).

Govt set to release IIP, WPI new base year series

The government is set to release the new Index of Industrial Production (IIP) and Wholesale Price Index (WPI) series with 2011-12 base year replacing the 2004-05 base years on Friday.

Reliance Jio case: CCI to probe established telcos, says report

The Competition Commission has ordered a detailed probe against major telecom players for allegedly trying to block the entry of newcomer Reliance Jio. Read more.

Earnings corner

Dr Reddy’s Laboratories, Havells India, Inox Wind, Nestle India, PNB Housing Finance and Titan are among the companies that will be announcing their March quarter earnings on Friday.

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