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Photo: Mint

Opening bell: Asian markets open lower; Ashok Leyland, Indian Bank, Balaji Telefilms in focus

In other news, the scrip of local search engine Justdial surged nearly 7% as the company's board will meet next week to consider a proposal for share buyback

US markets end mixed; Asian equities open lower

US stocks closed narrowly mixed near record levels Thursday as earnings season got underway, amid renewed uncertainty about the Donald Trump administration’s ability to implement its pro-growth proposals.

Asian markets were subdued in early Friday trade amid greater political uncertainty and as the euro rose to two-year highs on Thursday after comments from the chief of the European Central Bank.

Reliance Industries Q1 profit up 28% on higher margins, Gulf Africa sale

Energy giant Reliance Industries Ltd (RIL) reported a consolidated quarterly net profit increase of 28%, beating analysts’ estimates, helped by higher-than-expected refining and petrochemicals margins and a one-time gain.

Justdial shares surge nearly 7% on share buyback plan

The scrip of local search engine Justdial surged nearly 7% as the company’s board will meet next week to consider a proposal for share buyback.

Wipro Q1 profit rises 1.2% to Rs2,083 crore

Wipro Ltd, India’s third-largest software services exporter, posted a 1.2% rise in first-quarter consolidated profit helped by higher revenue from banking, financial services and insurance segment.

RIL buys 25% stake in Balaji Telefilms for Rs413 crore

Reliance Industries Ltd (RIL), India’s biggest company by market value, on Thursday acquired a 24.92% stake in film and television production house Balaji Telefilms Ltd in a deal worth Rs413.28 crore. Read more

HDFC to raise Rs3,500 crore through NCDs

Mortgage lender HDFC Ltd has proposed to raise Rs3,500 crore through a private placement basis by issuing non-convertible debentures (NCDs) to shore up long term resources.

Kotak Mahindra Bank Q1 net profit rises 23% to Rs912.73 crore

Kotak Mahindra Bank Ltd said its net profit for the June quarter rose 23% from a year ago due to higher net interest and other income.

Earnings corner

Ashok Leyland, Indian Bank, DHFL and MRPL are among the companies that will be announcing their June quarter earnings on Friday.

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