BackOpening bell | Asia opens lower, airline stocks in news
Steady profits recorded in recent quarters may prompt Jet Airways to place another large aircraft order
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US markets close slightly lower
US markets closed slightly lower after a volatile session. S&P 500 lost 0.07% to 1,852 on losses in shares of energy companies. Asian markets opened on a weak note.
PSU bank profits plunge in Q3
Three public sector banks—Central Bank of India Ltd, Dena Bank Ltd and Allahabad Bank Ltd—posted a net loss and Punjab National Bank Ltd’s net profit plummeted 93% in the three months ended 31 December from a year ago. Read more.
Jet Airways may order more planes
Steady profits recorded in recent quarters may prompt Jet Airways (India) Ltd to place another large aircraft order, reports Mint. A sharp fall in jet fuel price last year buoyed profits at local airlines, which are preparing to bulk up their fleets. According to another report, the airline’s turnaround plan is on track.
SpiceJet readies cargo plans
SpiceJet Ltd has readied plans to cash in on the e-commerce boom, as the no-frills carrier looks for new streams of revenue, reports The Economic Times. According to the report, the airline plans to open as many as 40 warehouses across the country to provide fast delivery options for customers.
Jaiprakash Power may default on FCCBs
Debt-laden Jaiprakash Power Ventures Ltd may need additional time, beyond 13 February, to fulfil its repayment obligations to holders of its $200 million foreign currency convertible bonds (FCCBs), reports Mint.
Aurobindo reports 39% net profit growth
Drug maker Aurobindo Pharma Ltd has reported a 39% rise in its consolidated net profit for the quarter ended 31 December, helped by new products. Revenue rose 10% to ₹ 3,495 crore from ₹ 3,166 a year ago.
Piramal looking to split business units
Piramal Enterprises Ltd is looking to demerge its healthcare and financial services businesses to grow the unrelated divisions separately, reports The Economic Times.
Cipla, Bata India, ACC results today
Rural Electrification Corp. Ltd, Cipla Ltd, Bata India Ltd, GMR Infrastructure Ltd, Ambuja Cements Ltd, ACC Ltd, NHPC Ltd, Tata Chemicals Ltd and Tata Global Beverages Ltd are some of the companies that will release their earnings for the December quarter today.
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