Opening bell: Asian markets open higher; IndusInd Bank, TCS earnings in focus
US stocks end higher; Asian markets follow suit
US stocks closed higher on Wednesday after the US Federal Reserve released a summary from its previous meeting that showed it believes the economy is strong enough to withstand another rate hike in December.
Asian shares gained on Thursday after Wall Street closed at record levels following the latest minutes from the Federal Reserve. Meanwhile, the dollar remained on the back foot against a basket of currencies.
‘Many’ US Fed members favour December rate hike, minutes show
US Federal Reserve bankers are sharply divided over whether to increase interest rates again this year amid persistently weak inflation, but many still favour a rate hike, minutes of the Federal Open Market Committee (FOMC) showed.
Reliance Industries Q2 result to get a boost from refining business
Reliance Industries Ltd (RIL) is likely to report an increase in profit for the three months to September, benefiting from higher refining margins that will offset weaker earnings from its petrochemicals business.
Lupin buys US firm Symbiomix Therapeutics for $150 million
Lupin Ltd said its US subsidiary has acquired Symbiomix Therapeutics LLC for a cash consideration of $150 million, in a bid to expand in the women’s health segment.
GIC Re IPO receives 80% subscription on first day
General Insurance Corp. of India Ltd’s (GIC Re) Rs11,372 crore initial public offer (IPO) was subscribed 80% on the first day of shares sale.
Direct tax collections rises 16% to Rs3.86 trillion in April-September
India’s direct tax collections for April-September rose 15.8% to Rs3.86 trillion, buoyed by a healthy growth in advance tax mop-up, the finance ministry said.
IEX IPO subscribed 2.17 times on last day
Indian Energy Exchange Ltd’s (IEX) initial public offering (IPO) was subscribed 2.17 times on the last day of the share sale.
Lakshmi Vilas Bank Q2 net profit down 84%
Lakshmi Vilas Bank Ltd said its net profit in the second quarter fell 83.81% from a year ago due to higher provisioning.
IndusInd Bank and Tata Consultancy Services are among the companies that will be announcing their September quarter earnings on Thursday.