Mumbai: Overnight US markets closed higher. S&P 500 gained 0.28% to 2,114 on buying in shares of Merck and Co. and International Business Machines Corp. (IBM). Asian markets outside Japan opened in the green. Japanese markets are closed for a holiday.

Data drives growth for Airtel, Idea

Bharti Airtel Ltd and Idea Cellular Ltd reported strong fourth-quarter earnings growth on a surge in data usage. Bharti Airtel posted a 30.5% profit increase. Idea Cellular reported a 60% increase in its fourth-quarter profit. Read more.

UK unions give Tata Steel notice of industrial action ballot

British steel unions have given legal notice to Tata Steel UK, a unit of Tata Steel Ltd, about their intention to start balloting members for industrial action, reports Reuters. The unions are locked in a dispute with the company about its proposal to change their pension scheme. They are balloting their members to vote for a strike or industrial action, short of a strike, the report says.

Bharat Forge, Punj Lloyd competing for defence contract

Keep an eye on Bharat Forge Ltd and Punj Lloyd Ltd. According to The Economic Times, the companies emerged as the contenders for the 16,800 crore defence contract to replace anti-aircraft guns of the Indian Army.

Infosys banks on design thinking to win mega deals

Infosys Ltd is trying to improve the effectiveness of its sales team by incorporating elements of design thinking, among other measures, while making pitches to prospective clients in an effort to win more orders that exceed $100 million in annual revenue, reports Mint.

Bajaj Auto to launch higher capacity bikes next year

Bajaj Auto Ltd plans to roll out higher cubic capacity (cc) bikes going up to 500-cc next calendar year, reports Business Standard.

ICICI Bank sets aside 929 crore for loans restructured prior to 2008

ICICI Bank Ltd provided for an additional 929 crore against loans restructured prior to 2008 to comply with Reserve Bank of India (RBI) guidelines in the quarter ended March 2015, reports Mint.

Kumar Birla may become chairman of Century Textiles, Enka

According to The Economic Times, Kumar Mangalam Birla is likely to become chairman of Century Textiles and Industries Ltd and Century Enka Ltd. Both companies are set to release their results on 5 May.

Wockhardt to recall some products from US

Wockhardt Ltd will recall medicines manufactured at its Chikalthana and Waluj factories in Aurangabad, Maharashtra, from the US market ahead of a potential import alert by that country’s drugs regulator.

GIC to acquire 64% stake in Nirlon

Singapore’s sovereign wealth fund GIC is acquiring 63.9% stake in real estate firm Nirlon Ltd, reports PTI. The stake is being acquired at 222 per share. The stock closed at 160 on Tuesday.

Reliance Power terminates Tilaiya power plant

Reliance Power Ltd terminated its agreement to set up the 3,960 megawatt Tilaiya power plant in Jharkhand. The company cited delay in land acquisition for the plant for scrapping the project

HDFC earnings today

Biocon Ltd, Ambuja Cements Ltd, HDFC Ltd, Hexaware Technologies Ltd, Gateway Distriparks Ltd, Raymond Ltd, Sesa Sterlite Ltd and TVS Motor Co Ltd are some of the companies that will release their earnings for the March quarter today.