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Opening Bell: Asian markets open mixed; Heromoto Corp, IDBI Bank, IndiGo in news

LiveMint logoLiveMint 10-05-2017 Harsha Jethmalani

US stocks end higher; Asian equities open mixed

US stocks rose on Tuesday, with the S&P 500 and Nasdaq Composite hitting new records, as earnings season neared its end.

Equities in Asia were mixed in early Wednesday trade as investors digest the dramatic dismissal of FBI Director James Comey in the US and follow the inauguration of liberal candidate Moon Jae-in after his win in the South Korean presidential election.

Airtel Q4 profit plunges 72% to Rs373.4 crore

Bharti Airtel Ltd posted a 72% decline in net profit for the fourth quarter as free services offered by new entrant Reliance Jio Infocomm Ltd until 31 March damaged business of India’s largest telecom services provider.

Godrej Consumer shares soar 10% on robust Q4 show

Shares of Godrej Consumer Products Ltd (GCPL) surged almost 10% after the company reported an over three-fold jump in consolidated net profit for the quarter ended 31 March.

India to grow at 7.7% in FY19 after demonetisation disruptions: IMF

India’s growth is expected to rebound to 7.2% in the 2017-18 fiscal and 7.7% in 2018-19 after disruptions caused by demonetisation, the International Monetary Fund (IMF) said on Tuesday, while recommending the removal of long-standing structural bottlenecks to enhance market efficiency.

Passenger vehicle sales up 15% to 277,000 units in April: Siam data

Sales of passenger vehicles in India rose 14.68% in April from a year earlier, largely on the back of demand for compact cars, according to data released by industry lobby group Society of Indian Automobile Manufacturers (Siam).

Rupee sees biggest loss against US dollar in 2017

The Indian rupee weakened against the US dollar, tracking the losses in Asian currencies markets pushing the currency to its biggest loss for the calendar year.

Hudco IPO subscribed 3 times on Day 2

The initial public offer of state-owned Hudco was subscribed 3 times on the second day of offer on Tuesday. The IPO received bids for 61,39,95,600 shares against the total issue size of 20,40,58,747 shares.

RBI puts IDBI Bank under watch for high bad loans

The Reserve Bank of India (RBI) has invoked its so-called prompt corrective action (PCA) framework on IDBI Bank Ltd because of its rising bad loans and negative return on assets.

IndiGo to start regional operations, annual profit falls 16.5% to Rs1,659 crore

InterGlobe Aviation Ltd, which runs India’s largest airline IndiGo turned in a profit Rs1,659 crore in the year ended 31 March and has decided to buy 50 turboprop planes to start regional aviation operations.

Earnings corner

Dalmia Bharat Cements, Heromoto Corp, Kirloskar Engineering, Zee Entertainment Enterprises are among the companies that will be announcing their March quarter earnings on Wednesday.

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