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Opening bell: Asian markets open mixed; ONGC, Crompton Greaves results in focus

LiveMint logoLiveMint 26-05-2017 Harsha Jethmalani

US equities end higher; Asian markets open mixed

US stocks closed higher on Thursday as Wall Street remained positive about the Federal Reserve’s plan to trim its balance sheet, while tech stocks climbed.

Stocks in Asia were mixed at the open on Friday, after major oil producers agreed to extend output cut for an additional nine months at an Opec meeting in Vienna on Thursday.

Sensex at new high, Nifty above 9,500 on Fed’s gradual approach

Indian stocks rose to record highs on Thursday, tracking global equities, after minutes of the US Federal Reserve’s meeting on 2-3 May showed policymakers favouring a gradual approach to interest rate increases.

Indian Oil Q4 net profit jumps 85%

Indian Oil Corp. said net profit rose 85% in the fourth quarter, in line with analysts’ expectations, as revenue from operations grew.

Cipla Q4 net loss narrows to Rs61.79 crore

Pharmaceutical company Cipla reported a narrowing of its consolidated net loss to Rs61.79 crore for the fourth quarter that ended on 31 March.

Raymond shares see huge selling; tank 10% on land deal concerns

Shares of Raymond came under massive selling pressure, plunging nearly 10% in early trading session after proxy advisory firm IiAS warned that a proposed real estate deal will result a loss of over Rs650 crore for the company and its shareholders.

Sintex in talks with TPG, Blackstone, Carlyle to sell stake in Sintex Plastics

Sintex Industries Ltd, the world’s largest maker of plastic water tanks, is in talks with private equity (PE) funds to sell a minority stake in its newly demerged entity—Sintex Plastics Technology Ltd, reports Mint.

Earnings corner

BEML, Crompton Greaves, ONGC, Sun TV and Tata Chemicals are among the companies that will be announcing their March quarter earnings today.

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