US stocks end lower; Asian markets open on a mixed notes

US stocks dropped on Friday as a decline in Apple pushed the technology sector lower. A rise in interest rates also kept a lid on equities.

Asian stocks were narrowly mixed on Monday, with Japan and South Korea getting off to a muted start after US markets posted Friday losses amid declines in technology stocks.

TCS bets on Business 4.0 to push digital revenue to over $5 billion this year

India’s largest IT services firm Tata Consultancy Services Ltd (TCS) is betting big on its ‘Business 4.0’ strategy to propel its revenues from new age-technologies like automation, cloud and Internet of Things (IoT) to over $5 billion this year.

Economic recovery on firm footing: RBI governor Urjit Patel

India is witnessing a revival in investment activity after several quarters of downturn, putting the nation’s economic recovery on a surer footing, Reserve Bank of India (RBI) governor Urjit Patel said at the International Monetary and Financial Committee meeting in Washington DC.

True North in talks to buy 26% stake in Federal Bank’s NBFC

Private equity (PE) fund True North Capital is in advanced talks to buy a 26% stake in Fedbank Financial Services (Fedfina) for Rs400 crore. Read more

Idea Cellular’s proposal for 100% FDI under consideration of DIPP

Idea Cellular Ltd’s proposal to allow up to 100% FDI in the company is under consideration of the Department of Industrial Policy and Promotion (DIPP)

L&T sells Bengaluru land parcel to Phoenix-CPPIB platform for Rs650 crore

Island Star Mall Developers Pvt. Ltd, a strategic investment alliance by Phoenix Mills Ltd and Canada Pension Plan Investment Board (CPPIB) has acquired a land parcel in Hebbal, north Bengaluru for Rs650 crore from L&T Construction Equipment Ltd.

HDFC Bank Q4 net profit rises 20% to Rs4,799 crore

HDFC Bank Ltd said its fourth quarter net profit rose 20.28% on the back of higher net interest income and other income.

12 IPOs lined up for the next 2 months to raise Rs17,000 crore

The initial public offering (IPO) market is gearing up for a burst of activity, with at least 12 companies planning to raise more than Rs17,000 crore over the next two months, after a quiet start to the June quarter.

Earnings corner

Bharat Financial Inclusion, Reliance Infrastructure and LIC Housing Finance are among the companies that will be announcing their March quarter earnings today.