US equities end higher; Asian markets open lower
The S&P 500 and the Nasdaq composite notched new all-time highs on Monday despite a narrow trading range as investors digested Emmanuel Macron’s victory over Marine Le Pen in the French presidential election.
Asian markets were lower in early Tuesday trade after soaring in the previous session with investors focused on key regional events unfolding in the day, including a presidential election in South Korea and the release of the Australian federal budget.
GST rollout scheduled for 1 July: Arun Jaitley
The Goods and Services Tax (GST) is on schedule for implementation from 1 July and will not lead to any significant increase in prices of goods although cost of some services may see a marginal hike, finance minister Arun Jaitley said on Monday.
SBI cuts home loan interest rates steeply for new borrowers
India’s largest lender State Bank of India (SBI) announced a steep reduction of 25 basis points in affordable housing loans to 8.35% for new borrowers. Under the new government scheme, loans under Rs30 lakh qualify for affordable housing.
Hudco IPO subscribed 63% on day 1
State-owned HUDCO’s initial public offer to raise Rs1,224 crore was subscribed 63% on the first day of the IPO.
Airlines launch fare sale for low-traffic routes
Airlines have lowered fares on short-haul, low traffic routes in June in order to fill seats and maximize revenues.
Canara Bank Q4 profit at Rs.214.18 crore
Canara Bank Ltd reported a March quarter net profit of Rs.214.18 crore, against a Rs3,905.49 crore loss recorded a year ago when it made heavy provisions for bad loans.
Eris Lifesciences gets Sebi nod for Rs2,000 crore IPO
Pharmaceutical firm Eris Lifesciences Pvt Ltd has received capital market regulator Sebi’s approval to raise an estimated Rs2,000 crore through an initial public offering (IPO).
Bharti Infratel Q4 profit falls 17% to Rs597 crore, misses estimates
Indian telecom tower firm Bharti Infratel Ltd posted a 17% drop in consolidated net profit for the March quarter, missing analysts’ estimate, hurt by higher expenses.
Earnings corner
Bharti Airtel, Dena Bank, Godrej Consumer Products, Indigo are among the companies that will be announcing their March quarter earnings on Tuesday.