Opening bell: Asian markets edge higher; NTPC, L&T earnings today
In other news, IDBI Bank and Bank of Baroda report huge losses at the end of the March quarter after setting aside funds to cover rising bad loans
Asian stocks edge higher
Markets in Japan and South Korea moved higher after US President Donald Trump appeared to confirm that his June summit with North Korea’s Kim Jong Un was on, reports Bloomberg. Over the weekend US stocks closed mostly lower. S&P 500 was down 0.24% at 2,721.
Adani Group looks to buy Shree Renuka Sugars
The Adani Group may acquire the sugar business of Shree Renuka Sugars Ltd from Wilmar Sugar Holdings, reports Mint. Wilmar Sugar owns a 39% stake in Shree Renuka.
IDBI Bank, Bank of Baroda post massive Q4 losses
IDBI Bank and Bank of Baroda on Friday reported huge losses at the end of the March quarter after setting aside funds to cover rising bad loans.
Sebi serves notice to ICICI Bank’s Chanda Kochhar in Videocon loan case
Markets regulator Sebi has started proceedings against ICICI Bank Ltd for non-disclosure of information in the matter of alleged conflict of interest in the grant of loans to the Videocon group.
Grasim Industries to invest Rs1,000 crore
Grasim Industries aims to generate additional revenues of about Rs1,200 crore per annum with its plan to invest Rs1,000 crore in expanding caustic soda and new chlorine value-added products, reports The Hindu Business Line.
Govt may tell Tata Tele to settle dues before deal with Tata Communications
The government, which owns 26% in Tata Communications Ltd, may veto the company’s plan to buy the enterprise business of Tata Teleservices Ltd unless all government dues are cleared, reports Mint.
Bank of India, NTPC, L&T earnings today
It will be a results heavy day. Bank of India, Aurobindo Pharma Ltd, NHPC Ltd, NTPC Ltd, Rural Electrification Corp Ltd, and Larsen & Toubro Ltd (L&T) are some of the companies that will release their earnings for the March quarter today.