Opening bell: Asian markets open mixed; Infosys, RCom in news
In other news, RBI kept key interest rates unchanged but softened its hawkish stance owing to the fall in retail inflation to a record low
US equities end higher; Asian markets open mixed
US equities closed higher on Wednesday as investors hoped the testimony from former FBI chief James Comey will be less damaging to President Donald Trump than previously feared.
Asian markets were mixed at the open on Thursday ahead of key risk events later in the day, with apparent land-to-ship missiles fired by North Korea in the morning added to the mix.
Infosys drops $20 billion revenue target, forms advisory panel for CEO Vishal Sikka
Infosys Ltd has dumped its ambitious long-term revenue target, had search firm Egon Zehnder evaluate each of the 10 members of the company’s board, and set up a three-member panel to “support and advise” chief executive officer Vishal Sikka in executing strategy.
Reliance Communications rejects new Moody’s, Fitch ratings downgrades
Reliance Communications Ltd (RCom) pushed back against Moody’s Investor Services and Fitch Ratings, disagreeing with the ratings agencies’ assessment that the mobile phone carrier could struggle to reduce its long-term debt even after completing key asset deals.
RBI keeps key repo rate unchanged, lowers inflation forecast
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) kept key interest rates unchanged but softened its hawkish stance owing to the fall in retail inflation to a record low and lower-than-expected economic growth.
GMR wins rights to build new airport in Greece
GMR Airports Ltd, a subsidiary of GMR Infrastructure Ltd, has won the rights to build, operate and manage an airport in Greece, its second international airport after Mactan Cebu International Airport (MCIA) in Philippines.
Yes Bank gets shareholders’ nod to raise Rs20,000 crore
Private sector lender Yes Bank has received shareholders’ nod to raise Rs20,000 crore in debt instruments through various routes.
Jaguar Land Rover sales rise 1% in May to 45,487 units
Tata Motors-owned Jaguar Land Rover (JLR) on Wednesday reported retail sales of 45,487 units for May, up 1% from the same month last year. Read more.
Cadila Healthcare’s market cap jumps, making it No. 2 pharma company in India
Cadila Healthcare Ltd has become India’s second-most valuable pharmaceutical company in terms of market capitalisation, beating drug makers such as Lupin Ltd, Dr Reddy’s Laboratories Ltd and Cipla Ltd that have higher revenues.
Biocon shareholders approve issue of bonus shares
Biotechnology major Biocon’s shareholders have approved issue of bonus shares by way of capitalisation of reserves, PTI reported.