Opening bell: Asian stocks edge-up; Bajaj Auto, Amara Raja, Ashok Leyland earnings today
In other news, RCom is in talks with Ericsson India for a settlement and Malaysia’s IHH Healthcare extends the deadline for acceptance of its offer for Fortis Healthcare
Asian stocks edge-up in morning trade
Asian markets outside Japan were trading slightly higher in the morning hours. Overnight US stocks closed mixed. S&P 500 at 2,720.13 was down 0.09%.
Finance minister promises help to banks under RBI watch
Finance minister Piyush Goyal promised all possible support to the 11 state-run banks that are under the Reserve Bank of India’s (RBI) Prompt Corrective Action framework, reports The Economic Times.
Meanwhile, the Centre may ask RBI to consider revising the prompt corrective action framework so that a complete restriction on fresh lending does not affect credit flow, reports Business Standard.
Honda looking to corner larger share of Indian automobile market
Honda Cars India Ltd is looking to corner a larger share of the Indian automobile market with the introduction of three model refreshes during the fiscal.
Reliance Power exits Tiaiya power project
Reliance Power has exited Tilaiya Ultra Mega Power Project by selling stake for Rs712.64 crore, which includes Rs600 crore in bank guarantee, reports PTI.
RCom, Ericsson India likely to settle dispute outside NCLT
Even as the National Company Law Tribunal (NCLT) has admitted the petition for insolvency, Reliance Communications (RCom) is in talks with Ericsson India for a settlement of the dispute over dues to the latter, reports Business Standard.
McLeod Russel looks to sell estates to pay down debt
After years of chasing growth through acquisitions across the world, McLeod Russel India Ltd is looking to sell some of its estates in Assam in a bid to pay down its debts, reports Mint.
Hexaware, L&T Infotech evaluating bid to acquire Genpact unit
Hexaware Technologies, Mphasis and L&T Infotech are among the potential suitors evaluating a bid to acquire IT services and consulting business Headstrong, put on the block by Genpact, reports Times of India.
IHH extends for Fortis Healthcare
Malaysia’s IHH Healthcare extended the deadline for acceptance of its offer for Fortis Healthcare to May 29 after the Manipal-TPG consortium sweetened its offer for the company.
Bajaj Auto, Amara Raja, Ashok Leyland earnings today
Bajaj Auto Ltd, Thermax Ltd, Inox Wind Ltd, Amara Raja Batteries Ltd, and Ashok Leyland Ltd are some of the companies that will release their earnings for the March quarter today.