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Opening bell: Asian markets open mixed; M&M, Hindalco earnings in focus

LiveMint logoLiveMint 30-05-2017 R. Sree Ram

Asian stocks mixed in morning trade

Asian markets are mixed in the morning trade. According to Bloomberg, markets are closed in China, Hong Kong for holiday. While stocks in Japan, Australia retreated, South Korean markets fluctuated, the report adds.

Sebi looks to tighten the screws on P-Notes

The Securities and Exchange Board of India (Sebi) proposes to levy a $1,000 fee on foreign portfolio investors (FPIs) for each participatory note (P-Note) issuance in an effort to cut down on speculative investments. Read more.

L&T Q4 profit rises 29.5% to Rs3,025 crore

Larsen and Toubro Ltd (L&T) reported a 28% jump in March quarter consolidated net profit on higher revenue and lower taxes, beating Street expectations.

Coal India Q4 profit down 38% to Rs2,716 crore

Coal India Ltd reported a sharp drop in its consolidated net profit in the fourth quarter period ending March 2017 to Rs2,716.09 crore, down by 38% over the corresponding period profit of Rs4,398.35 crore.

BHEL Q4 net profit down 57% at Rs215.55 crore

BHEL Ltd’s standalone net profit declined by 57% to Rs215.55 crore in the fourth quarter ended March, due to lower income and provisions for higher wages.

Fairfax to sell more stake in ICICI Lombard

Fairfax Financial Holdings is looking to sell more stake in ICICI Lombard General Insurance Co Ltd, reports Business Standard. The company on Saturday sold 12.18% in ICICI Lombard to private equity firms.

RCom management tries to reassure investors

Reliance Communication Ltd (RCom) is seeking approvals from its bankers to sell its telecom towers business and merge its wireless business with Aircel Ltd, steps which will allow the company to pare debt, its management said in an investor call.

Tech Mahindra warns about US visa policy

Tech Mahindra Ltd vice president Vineet Nayyar warned that US President Donald Trump’s visa policy will damage the IT industry even as the company reported weak earnings, reports Bloomberg.

Fitch downgrades IDBI Bank’s rating

Fitch downgraded IDBI Bank’s rating reflecting the deterioration of its financial profile in the last two years and high risks of further losses and capital erosion, reports PTI.

Jet Airways, Mahindra & Mahindra earnings today

Thermax Ltd, Jet Airways (India) Ltd, Mahindra & Mahindra Ltd (M&M), United Spirits Ltd, Hindalco Industries Ltd, Steel Authority of India Ltd, and Natco Pharma Ltd are some of the companies that will release their earnings for the March quarter today.

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