Mumbai: Asian markets are trading mixed. While Japanese shares fell on a strengthening yen, equities in South Korea gained on positive economic data from Australia. South Korea’s Kospi at 1,944 is up 0.45%. Investors are awaiting the outcome of European Central Bank meeting, scheduled to take place on Thursday.
Overnight, US markets closed flat. Lower than expected earnings from freight companies sparked selling in transportation stocks. S&P 500 at 1,512 closed marginally up 0.05%. Read the Reuters report.
Back home, some of the largest Indian banks are starting to feel the heat from the prolonged weakness in the global economies. State Bank of India, Bank of Baroda and Bank of India are witnessing a rise in non-performing assets in their overseas portfolios. Read the Mint report.
NTPC Ltd stock may continue to trade with negative momentum. The base price of the offer for sale has been fixed at Rs.145 apiece, a 4.5% discount to the Wednesday closing price of Rs.152. Read more.
To repay debt Suzlon Energy Ltd is planning to sell stakes in its subsidiaries, reported Business Standard. According to the report, the company has given a commitment to raise money through stake sale to the lenders that had restructured its loans.
Troubles at Hero MotoCorp Ltd are far from over. According the Business Standard, a tripartite negotiation between the union representatives and the management remained inconclusive.
Auditors of the United Breweries Holdings Ltd have raised concerns over the company’s exposure to Kingfisher Airlines Ltd. According to The Times of India United Breweries has an exposure of Rs.13,530 crore to the grounded airline.
ACC Ltd, Ambuja Cements Ltd, Apollo Hospitals Ltd, Aurobindo Pharmaceuticals Ltd, Bombay Dyeing Ltd, Ceat Ltd, Gillette India Ltd, Jyothy Laboratories Ltd and MRF Ltd are some of the notable companies that will release their earnings on Thursday.