Opening bell: Asian markets open higher; HDFC Bank, ICICI Lombard, HUL, Suzlon in news
Asian markets gain in morning trade
Asian markets opened higher, helped optimism about earnings and U.S. tax reform. Overnight US markets closed with gains. S&P 500 at 2,355 is up 0.76%.
Warburg in lead to buy part of Watsa’s ICICI Lombard stake
Warburg Pincus is the frontrunner to acquire a minority stake in ICICI Lombard General Insurance Co. Ltd from Prem Watsa’s Fairfax Financial Holdings, reports Bloomberg. Fairfax, which owns 35% of ICICI Lombard, is looking to reduce its holding.
Unilever says India business recovered after demonetisation
Unilever Plc said its Indian business has recovered from the hit it experienced following the government’s invalidation of high-value currency notes in November. The company runs the business in India through Hindustan Unilever Ltd (HUL).
Future Retail to demerge home retail business
Shares of Future Retail Ltd hit an all-time high on Thursday after India’s biggest departmental store chain said its board has decided to consolidate its offline and online home retail businesses under a single entity called Praxis Home Retail Pvt. Ltd.
Suzlon wins 100 megawatt wind power project
Suzlon Group has received an order from ReNew Power Ventures for its 100.80 megawatt wind power project. The project is scheduled to be completed by March 2018.
Supreme Court approves e-auction of Taj Mansingh Hotel
The Supreme Court has approved the e-auction of Taj Mansingh Hotel in Delhi, rejecting the claim of Tata group-owned Indian Hotels Co. Ltd over the property. According to The Times of India, Indian Hotels Co will have to compete in auction with ITC Ltd.
Air traffic growth slows to 18-month low as fares rise
Higher fares slowed air passenger traffic growth to an 18-month low in March, typically a lean month for air travel. Read more.
ACC, HDFC Bank earnings today
ACC Ltd, HDFC Bank Ltd, and Tata Metaliks Ltd are some of the companies that will release their earnings for the March quarter today.