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Opening bell: Asian markets open higher; Lupin, Dish TV earnings in focus

LiveMint logoLiveMint 24-05-2017 Harsha Jethmalani

US equities end higher; Asian markets follow suit

US stocks closed higher on Tuesday as hope around Donald Trump trade was renewed among investors.

Major indices in Asia opened higher on Wednesday as investors looked ahead to US Federal Reserve views on interest rate hike prospects and await an upcoming OPEC meeting widely expected to extend production cuts for nine months to March 2018.

More trouble for IDBI Bank as Icra downgrades its bond rating

IDBI Bank Ltd’s list of troubles just grew longer. Rating company Icra Ltd downgraded the lender’s outstanding debt worth Rs25,924 crore, including the so-called additional tier-1 (AT-1) bonds, citing its weak capital position.

Nifty, Sensex tank on profit booking, global cues after Manchester bombing

Benchmark Sensex tumbled 206 points while the broader Nifty closed below the 9,400-mark as investors booked profits amid volatile global cues.

Tata Motors Q4 profit dips 16.8% to Rs4,336 crore

Tata Motors Ltd said its consolidated net profit for the March quarter fell 16.8% from a year ago as losses at its Indian business partially offset a surge in sales at its British luxury unit Jaguar Land Rover (JLR).

UTI Asset Management set to launch IPO, to sell 26-30% stake

UTI Asset Management Co. Ltd, India’s oldest and the sixth largest asset management company is ready to launch an initial public offering (IPO) and will offer to sell 26-30% of its equity, reports Mint.

RBI refuses to disclose list of loan defaulters

The Reserve Bank of India (RBI) has refused to make public the list of loan defaulters with public sector banks despite an order of the Supreme Court in 2015 to make this information public.

Paytm Payments Bank launched, offers 4% interest rate on savings account

Paytm Payments Bank Ltd rolled out its banking operations. With the launch of Paytm Payments Bank, there are now three payments bank in the country, including Airtel Payments Bank Ltd and India Post Payments Bank Ltd.

Jindal Steel Q4 net loss narrows to Rs100 crore

Jindal Steel and Power (JSPL) said its consolidated loss narrowed to Rs100 crore in the fourth quarter ended on 31 March, helped by better performance of its steel business.

Great Eastern Shipping to raise Rs150 crore via NCDs

Great Eastern Shipping Company announced that the debenture issue committee has approved raising up to Rs150 crore via issuance of non-convertible debentures on private placement basis.

Earnings corner

Bharat Forge, DishTV, Lupin and Somany Ceramics are among the companies that will be announcing their March quarter earnings on Wednesday.

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