US stocks close slightly higher; Asia mixed
Overnight US stocks closed slightly higher. S&P 500 at 2,654 is up 0.25%. Asian markets opened mixed.
Munjal-Burmans, IHH sweeten Fortis bids, add new terms
At least two bidders, IHH Healthcare Bhd and a group led by businessman Sunil Munjal, have sweetened their offers for the assets of troubled Fortis Healthcare Ltd ahead of the Tuesday deadline for submitting binding offers, reports Mint.
Dabur Q4 profit jumps 19% to Rs396.2 crore
Dabur India Ltd on Tuesday reported a 19% increase in its March-quarter consolidated net profit as volumes in domestic packaged goods business grew 7.7%.
L&T to sell its electric unit to Schneider for Rs14,000 crore
Larsen & Toubro Ltd will sell its electrical and automation business to European multinational Schneider Electric for Rs14,000 crore. This is part of L&T’s stated move to prune non-core businesses.
M&M buys 10% stake in Canadian agri tech firm
Mahindra & Mahindra Ltd (M&M) is investing just over $5 million for a 10% stake in Canadian technology company Resson Aerospace Corp., reports The Times of India. The investment will allow M&M to use the Canadian company’s technology, the report adds.
Auto sales rise 12% in April on recovery in rural areas
India’s top car makers reported an 11.99% growth in sales in April, as sales recovered in semi-urban and rural markets, besides stable urban demand. Read more.
Infrastructure output slows to 4.1% in March
The growth of eight core sectors slowed to 3-month low of 4.1% in March due to weak performance in sectors such as coal, crude oil and natural gas, reports PTI.
HCL Tech, Hero MotoCorp, IndiGO earnings today
It will be a results heavy day. HCL Technologies Ltd, Hero MotoCorp Ltd, InterGlobe Aviation Ltd (IndiGo), Marico Ltd, Siemens Ltd, and Tata Power Co Ltd are some of the companies that will release their earnings for the March quarter today.