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Business News/ Market / Stock-market-news/  News roundup 18 April | RIL Q4 earnings will be in focus
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News roundup 18 April | RIL Q4 earnings will be in focus

Asian markets were trading mixed on Friday morning on low volumes

The Shanghai Composite was down 0.6% while Japan’s Nikkei Stock Average was up 0.4%. Markets in Hong Kong were shut. Photo: Reuters Premium
The Shanghai Composite was down 0.6% while Japan’s Nikkei Stock Average was up 0.4%. Markets in Hong Kong were shut. Photo: Reuters

Mumbai: US markets ended higher on Thursday as investors took a positive view of the earnings releases, economic data and hopes for an end to the violence in Ukraine, reports Financial Times. The Dow Jones Industrial Average closed flat, S&P 500 advanced 0.1% and Nasdaq Composite was up 0.2%. Most markets will be shut around the world on account of Easter holiday.

Asian markets were trading mixed on Friday morning on low volumes. The Shanghai Composite was down 0.6% while Japan’s Nikkei Stock Average was up 0.4%. Markets in Hong Kong were shut.

Standard and Poor’s rating services said it might upgrade India’s outlook if the government that is elected next month addresses India’s fiscal and economic challenges through steps such as passing a goods and services tax.

Wipro Ltd forecast weak revenue growth in the June quarter, between $1.72 billion and $1.76 billion in April-June. This has raised concerns that its return to double-digit growth will take longer than expected. Wipro reported 41% jump in March quarter net profit to 2,227 crore.

HCL Technologies Ltdposted a higher-than-expected 59% increase in its March quarter net profit to 1,624 crore helped by robust growth in the infrastructure management services.

The Supreme Court ruled on Thursday that Comptroller and Auditor General of India will have the right to audit the receipts of telecom operators that share revenue with the government for use of spectrum. The ruling is a concern because it may be extended to other sectors in which companies pay the government to use national resources.

Piramal Enterprises Ltdagreed to acquire 20% stake in Shriram Capital Ltd for around 2,014 crore to reinforce its presence in the financial services industry.

Reliance Industries Ltd is likely to post flat net profit growth in the March quarter at around 5,550— 5,650 crore compared to a year earlier as an improvement in refining margin will be offset by weaker profitability at its petrochemical business and a drop in non-operating income.

Lastly, voter turnout improved in the fifth phase of polling for the Lok Sabha elections in constituencies in 10 out of 12 states compared with the percentage of voters in 2009, read more.

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Published: 18 Apr 2014, 08:20 AM IST
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