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Opening bell: US markets edge higher; ICICI Bank, RIL in news

LiveMint logoLiveMint 03-05-2017 R. Sree Ram

US markets edge higher

US markets closed in green. S&P 500 at 2,391 is up 0.12% on gains in technology and industrial shares. In Asia equity markets in Hong Kong, Japan and South Korea are closed for holidays.

Centre, states to consider simpler power tariff system

Union power minister and state ministers will consider the possibility of reducing the number of power tariff slabs and examine ways of re-engineering of power plants to use domestic coal in place of imported fuel, reports Mint.

Commercial vehicle sales drop in April

The apex court’s order restricting selling BS-III vehicles has taken a toll on commercial vehicle sales in April, as sales dropped at most companies, reports Business Standard.

RIL free cash flow may turn positive from FY19

With most of its expansion and diversification plans completed, Reliance Industries Ltd (RIL), which has been reporting negative free cash flow for the past four years, may return to positive terrain starting 2018-19, reports Mint.

Heineken looking to raise stake in United Breweries

Heineken International is looking to raise stake in United Breweries Ltd, reports The Economic Times. According to the report, Heineken approached lenders with a proposal to buy Vijay Mallya’s shares in United Breweries that are pledged with them.

Reliance Defence to exit corporate debt restructuring scheme

Reliance Infrastructure Ltd said its unit Reliance Defence and Engineering Ltd has received approval from the corporate debt restructuring empowered group for exiting from the scheme. Read more.

RBL Bank posts 55% increase in Q4 profit

RBL Bank Ltd, formerly known as Ratnakar Bank, reported a 55% increase in profit for the March quarter on higher interest income.

ICICI Bank earnings today

Dewan Housing Finance Corp. Ltd, ICICI Bank Ltd, and V-Mart Retail Ltd are some of the companies that will release their earnings on Wednesday.

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