Opening bell: US markets fall, Asia follows suit; M&M, SBI, Tata Steel earnings today

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Global equites tumble again

Overnight, the US markets slumped confirming a correction in the equity prices, reports Reuters. S&P 500 at 2,581 points is down 3.75%. According to Bloomberg, Asian stocks dropped in morning trade.

Fortis Healthcare promoters resign from board

Malvinder Mohan Singh, executive chairman, and Shivinder Mohan Singh, non-executive vice-chairman of Fortis healthcare, have resigned from their posts. Both tendered their resignation from the directorships of the company.

Sail swings to profit in December quarter

Steel Authority of India Ltd (Sail) posted a profit for the December quarter, snapping 10 straight quarters of losses, reports Reuters. Revenue from operations rose 21.4%.

Shoppers Stop aims to become debt-free in FY19

Shoppers Stop Ltd plans to become debt-free in 2018-19, which would allow it to focus more aggressively on strategies such as ramping up contribution from its private labels to overall revenue and expanding its footprint in the cosmetics segment, reports Mint.

Allahabad Bank share sale: staff allege coercion

The management of Allahabad Bank is said to have issued a diktat to all its employees to participate in an ongoing share sale to employees. The bank is looking to sell 50 million shares through an employee share purchase scheme. Read more

Mahindra & Mahindra, SBI, Tata Steel earnings today

It will be a results heavy day. BPCL Ltd, Bank of Baroda Ltd, Bata India Ltd, Gillette India Ltd, HPCL Ltd, Mahindra & Mahindra Ltd (M&M), ONGC Ltd, Marico Ltd, State Bank of India Ltd (SBI) and Tata Steel Ltd are some of the companies that will release their earnings for the December quarter on Friday.livemint