US markets end higher; Asian markets follow suit
US equities rose sharply on Tuesday as solid quarterly reports from several large-cap companies rolled through.
Asian indices traded higher in early Wednesday trade, following the rise in US indices.
Nifty closes at all-time high of 9,306.60 points, valuations rich
The National Stock Exchange’s (NSE’s) benchmark Nifty rose to a record closing high and the BSE Sensex ended just 57 points short of the psychologically important mark of 30,000 as better-than-expected quarterly corporate earnings and the forecast of a normal monsoon buoyed investors.
Wipro guides for decline in organic business, a first since financial crisis
Wipro Ltd, which has been lagging peers for years, may face the infamy of becoming the first top-tier Indian IT services company to report a decline in revenue growth.
Reliance Jio subscriber base at 109 million, says capex will decline
Almost two-thirds of Reliance Jio Infocomm Ltd’s subscribers at the end of March had signed up for the so-called Prime subscription, indicating their willingness to pay for the service—belying analyst expectations that the user base would fall once the company started charging.
IRB’s InvIT IPO targets Rs5,000 crore, maiden fund opens on 3 May
Engineering company IRB Infrastructure became the first firm to announce a public offer in the InvITs space with a Rs5,000 crore plus public issue of its fund opening on 3 May.
LIC Housing Finance Q4 profit rises 18% to Rs529 crore
Housing finance company LIC Housing Finance Ltd said its March quarter net profit rose 18.11% from a year ago, beating market estimates. Net profit rose to Rs529.18 crore for the fourth quarter from Rs448.01 crore a year ago.
Tata Power to sell non-core assets, improve efficiencies to offset Mundra impact
Power producer Tata Power Co. Ltd plans to sell non-core investments and improve efficiencies to counter the impact of the Supreme Court ruling that disallowed it to charge higher tariff from its Mundra plant.
Axis Bank and Lakshmi Vilas Bank are among the companies that will announce their March quarter earnings on Wednesday.