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Opening bell: Asian markets open mixed on UK election worries; Jet Airways in focus

LiveMint logoLiveMint 31-05-2017 R. Sree Ram

US markets close slightly lower; Asia opens mixed

Overnight US markets closed slightly lower. S&P 500 lost 0.12% to 2,412 on selling in energy shares. According to Bloomberg Asian markets opened lower amid concerns about British election. Read more.

Monsoon rains hit southern Kerala coast

The monsoon has arrived in mainland India, two days before the normal onset date, said India Meteorological Department (IMD) on Tuesday. Read more.

Jet Airways Q4 profit falls 91%

Jet Airways (India) Ltd recorded a 91% decline in March quarter net profit as higher income was more than offset by costlier fuel, lower airfares, and weak demand from the key Gulf region, reports Mint.

Jindal Poly Films in talks to acquire DuPont Teijin’s European operations

Jindal Poly Films Ltd is in talks to acquire the European operations of DuPont Teijin Films for Rs2,000 crore, reports The Economic Times.

Hindalco expects domestic aluminium demand to rise 7%

Hindalco Industries Ltd, India’s biggest aluminium producer, expects domestic aluminium demand to rise 7% in the current fiscal year, led by the government’s infrastructure push and the likelihood of higher power sector orders, reports Mint. The company reported a 25.6% rise in fourth quarter net profit, helped in part by higher aluminium prices.

Cadila Healthcare plans to raise Rs1,000 crore via QIP

Cadila Healthcare Ltd is in talks to raise around Rs1,000 crore through a qualified institutional placement (QIP) of shares, reports Mint.

United Spirits to sell 13 properties previously owned by Vijay Mallya

United Spirits Ltd plans to sell 13 properties, earlier owned by Vijay Mallya, who has failed to buy these back within an agreed deadline, reports PTI. The company reported a March quarter net loss of Rs104.2 crore, largely due to the impact of exceptional items. Excluding these items, United Spirits earned a profit of Rs152.3 crore. Revenue grew 9.22% to Rs6,485.2 crore.

Natco Pharma’s Q4 net profit more than doubles

Natco Pharma Ltd’s consolidated net profit more than doubled at Rs177 crore in the fourth quarter ended 31 March 2017 compared to Rs63 crore in the corresponding quarter of the previous financial year. Revenue grew by 46.2%.

Promoters may lose control of Amtek Auto

Debt-ridden automobile component maker Amtek Auto Ltd may slip out of the hands of its current promoters as they seek large investments in the company to bring down debt, reports Business Standard.

Eveready to transfer packet tea business to JV with McLeod Russel India

Eveready Industries Ltd plans to transfer its packet tea business to a joint venture with McLeod Russel India Ltd, reports Mint.

Petroleum ministry hires Deloitte for oil PSU merger

The petroleum ministry has appointed consultancy firm Deloitte to work on a proposed merger of public sector companies under its administrative control, reports Business Standard.

GMR Infrastructure, Castrol India earnings today

GMR Infrastructure Ltd and Castrol India Ltd will release their earnings for the March quarter today.

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