Opening bell: Asian markets open higher; HPCL, Asian Paints, Just Dial in news
In other news, Ashok Leyland eyes five-fold rise in LCV exports, while United Spirits, RBL Bank earnings will be announced today
Asian markets gain in morning trade
Asian stocks gained in morning trade tracking the earnings season and the deal to end US government shutdown. The opposition Democrats reached an agreement with the Republicans to have a debate on immigration so as to end the ongoing federal government shutdown which lasted for three days. Read more
Overnight, the US markets closed with gains. S&P 500 at 2,832 points is up 0.81%.
IMF sees India GDP growth at 7.4% in 2018
India is projected to grow at 7.4% of its gross domestic product (GDP) in 2018 as against China’s 6.8%, the International Monetary Fund (IMF) said, making it the fastest growing economy among emerging economies following last year’s slowdown, reports PTI.
HPCL may acquire MRPL in cash, share-swap deal
Hindustan Petroleum Corp. Ltd (HPCL) may acquire Mangalore Refinery and Petrochemicals Ltd (MRPL) in a cash and share-swap deal, reports PTI.
Asian Paints posts 16% rise in Q3 net profit
Asian Paints Ltd posted a 15.9% rise in consolidated net profit for the quarter ended 31December, even as revenue remained flat on a consolidated level. The results came after market hours on Monday.
Just Dial Q3 net profit up 4%
Just Dial reported a 4.2% rise in its standalone net profit in the December quarter. Revenues increased 9.16% from the year ago quarter. Read more
Ashok Leyland eyes five-fold rise in LCV exports
Ashok Leyland is aiming to increase its export basket of light commercial vehicles (LCV) to 25% from the present 5% over the next three years, reports PTI. The company plans to invest Rs400 crore into a new platform of LCVs.
Oil ministry seeks cut in excise duty on petrol, diesel in budget
India’s oil ministry is pushing for a cut in excise duty on petrol and diesel in the upcoming 2018/19 budget to cushion the impact of rising oil prices on consumers, reports Reuters.
United Spirits, RBL Bank earnings today
NIIT Ltd, United Spirits Ltd, RBL Bank Ltd and Symphony Ltd are some of the companies that will release their earnings for the December quarter on Tuesday.
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