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Opening bell: Asian markets open higher; HDFC, Yes Bank, Nestle in focus

LiveMint logoLiveMint 26-07-2017 Harsha Jethmalani

US markets end higher; Asian markets follow cues

US stocks traded mostly higher on Tuesday after a slew of major companies reported better-than-expected quarterly results.

Stocks in Asia traded in the green on Wednesday, following the firmer lead on Wall Street on Tuesday and as oil prices extended gains.

Vodafone-Idea merger expected to complete in 2018

The merger of Vodafone India Ltd and Idea Cellular Ltd is set to be completed ahead of time in 2018, the companies said. Read more

Reliance Jio impact: Airtel posts smallest profit in 18 quarters

Bharti Airtel Ltd’s June quarter profit plunged 75%, the third straight quarterly decline, as new entrant Reliance Jio Infocomm Ltd sparked a price war aimed at upending the telecom sector.

Hero MotoCorp Q1 profit rises 3.5% on higher sales

Hero MotoCorp Ltd posted a 3.5% increase in quarterly profit on Tuesday, in line with expectations, helped by higher sales volumes.

BSE to auction investment limits for Rs7,400 crore corporate bonds

Leading stock exchange BSE will auction investment limits on Wednesday for foreign investors to purchase corporate bond securities worth over Rs7,400 crore.

Axis Bank Q1 profit falls 16% to Rs1,305.60 crore

Private sector lender Axis Bank Ltd reported a 16.07% decline in its net profit for the June quarter as bad loans continued to mount and provisions soared. This is the sixth consecutive quarter in which Axis Bank has posted a decline in profit.

Unichem Laboratories gets USFDA nod for hypertension drug

Drug firm Unichem Laboratories has received approval from the US health regulator for losartan potassium and hydrochlorothiazide, used for treatment of hypertension and reduction in risk of strokes in patients with hypertension.

Monnet Ispat: NCLT appoints administrator for bankruptcy proceedings

Allowing the plea of consortium of lenders led by SBI, the National Company Law Tribunal (NCLT) appointed interim resolution professional (IRP) to initiate bankruptcy proceedings against Monnet Ispat & Energy Ltd.

Earnings corner

HDFC, Inox Leisure, Nestle India, Orient Cement, PVR and Yes Bank are among the companies that will be announcing their June quarter earnings on Wednesday.

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