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Opening Bell: Asian markets open mixed; Avenue Supermarts in news

US stocks end lower; Asian equities open mixed

US stocks closed narrowly mixed Tuesday as technology stocks recovered some of their losses.

Asian shares remained cautious on Wednesday as investors digested Federal Reserve chair Janet Yellen’s overnight speech and as North Korea tensions took a backseat.

GST receipts in August raise questions about compliance

Union and state governments collected Rs90,669 crore as goods and service tax (GST) in August, 3.6% less than what was collected in July, the first month of the indirect tax reform, as businesses and traders attempted to settle down in the new system despite technology hiccups.

Tata group weighs retaining part of telecom business

The Tata group is not looking to sell its telecom business in its entirety, but will retain some valuable segments within the business, reports Mint.

Avenue Supermarts gets buy rating as Goldman starts coverage, shares jump 18%

Shares of Avenue Supermarts Ltd jumped more than 18% on Tuesday, after Goldman Sachs initiated coverage on the parent company of D-mart with a buy rating and set a target price which was 54% higher than Monday’s close.

Prataap Snacks IPO subscribed 47.29 times on final day

Prataap Snacks Ltd’s initial public offering was subscribed 47.29 times so far on the last day on Tuesday. Read more.

ADB lowers India’s 2017 growth forecast to 7%

The Asian Development Bank (ADB) has lowered its 2017 growth forecast for India to 7% from its July estimate of 7.4%, reflecting “short term disruptions” such as last year’s demonetisation and this year’s implementation of the goods and services tax (GST) that the bank expects to “dissipate”.

Godrej Agrovet IPO price range at Rs450-460 per share

Godrej Agrovet Ltd has set a price range of Rs450-460 a share for its initial public offering to raise up to Rs1,160 crore ($177.6 million), according to a public notice.

Source:livemint.com

Categories:   Stock Market

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