Opening bell: Asian stocks open higher; Infosys, ICICI Securities, banks in news
In other news, IDBI Bank has prepared a plan for improving its financial health and reducing stressed assets
Asian stocks gain in morning trade
Asian markets opened with gains. Stocks gained relief the US-led strikes on Syria avoided a direct confrontation with Russia, reports Reuters. Over the weekend US stocks closed mixed. S&P 500 at 2,656 is down 0.29%.
ICICI Securities Q4 net profit jumps 91%
ICICI Securities on Saturday reported a 91% rise in net profit to Rs159 crore in the fourth quarter of 2017-18, compared to Rs83 crore in the year-ago period.
Infosys FY19 outlook worries investors
Infosys Ltd on Friday posted lukewarm Q4 results, but the company’s decision to lower its operating margin band for 2018-19 disappointed investors, reports Mint.
Meanwhile, the company said it will hold an analysts’ meet on 23 April where it is expected to unveil its new strategy, reports PTI.
IndiGo may get Airbus A320neo planes by April end
Airbus will resume global deliveries of its A320neo planes to customers by the end of this month, reports The Economic Times. Indian airlines IndiGo and GoAir will likely to get deliveries by the last week of April or early May, the report adds.
CBI books ex-UCO Bank CMD in cheating case
The Central Bureau of Investigation (CBI) has booked former a chairman and managing director (CMD) of UCO Bank and others in connection with an alleged loan fraud which has caused a loss of over Rs737 crore to the bank, reports PTI.
ICICI Lombard frontrunner for Star Health
ICICI Lombard General Insurance Co has emerged as the frontrunner to acquire Star Health and Allied Insurance Co from its founders and financial investors, reports The Economic Times.
Lenders reject RIL and JM Financial’s bid for Alok Industries
A resolution plan for Alok Industries Ltd submitted jointly by Reliance Industries Ltd (RIL) and JM Financial Asset Reconstruction Co. was not approved by the committee of creditors. Read more.
NPAs in Q4 to rise by Rs8,000 crore due to Gitanjali Gems
Non performing assets (NPAs) or bad loans in the banking sector are set to shoot up by at least Rs8,000 crore as advances to the scam-hit Gitanjali Gems group have turned bad during the quarter ended 31 March, reports PTI.
IDBI Bank prepares roadmap for financial revival
IDBI Bank has prepared a plan for improving its financial health and reducing stressed assets, reports PTI. The bank has also identified various non-core assets and real estate properties for sale to shore up its capital, the report adds.
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