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Opening bell: Asian markets open mixed; Bajaj Finance, Mindtree in focus

LiveMint logoLiveMint 19-07-2017 Harsha Jethmalani

US stocks end higher; Asian markets open mixed

US equities closed mostly higher on Tuesday as investors parsed through more corporate quarterly reports.

Asia markets were mixed as the dollar fell and yields lowered on dimmed prospects for US healthcare reform.

HUL Q1 results beat analyst estimates

Hindustan Unilever Ltd (HUL) on Tuesday reported June quarter results that beat analyst estimates as India’s largest packaged consumer goods maker cut costs and benefited from price increases in earlier quarters.

Ultratech Q1 net profit rises 14.9% to Rs890 crore

Ultratech Cement Ltd reported a 14.9% jump in standalone net profit to Rs890.6 crore in the quarter ended June 2017, as compared to the same quarter last year. Read more

ITC erases Rs50,000 crore in market value, shares tank 13% on higher cigarette cess

Shares of cigarette maker ITC Ltd on Tuesday closed 12.6% lower, its steepest fall in 25 years, erasing over Rs50,000 crore in market value, after many brokerages downgraded the stock and cut their target prices as the government increased cess on cigarettes.

Essar Steel seeks more time to file objections to insolvency proceedings

Essar Steel told the National Company Law Tribunal (NCLT) that it needs more time to file objections to the insolvency proceedings initiated against it by its creditors, including State Bank of India (SBI) and Standard Chartered Bank.

RIL, Shell, ONGC fined $3 billion in PMT oil field dispute: report

The government has ordered Reliance Industries (RIL), Royal Dutch Shell and Oil and Natural Gas Corp. (ONGC) to pay $3 billion in penalty following an arbitration award in the Panna Mukta Tapti (PMT) oil field dispute that went in favour of the government. Read more

Infosys’s Ritika Suri, who led the Panaya acquisition, has resigned

Ritika Suri, the executive who heads the large deals team at Infosys Ltd, and was previously in charge of mergers and acquisitions (M&As), has resigned, dealing a blow to chief executive Vishal Sikka who has struggled to retain top leaders at India’s second largest software services company since he took over three years ago.

Tata Power to invest $90 million in renewable energy arm TPREL

Tata Power Co. Ltd plans to invest around $90 million (close to Rs600 crore) in equity capital in its renewable energy arm Tata Power Renewable Energy Ltd (TPREL) as the company seeks to develop its immediate pipeline of 320 megawatts (MW) of solar assets, reports Mint.

Earnings corner

Amtek Auto, Bajaj Finance, Havells India, Mindtree and Sanofi India are among the companies that will be announcing their June quarter earnings on Wednesday.

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