Asian stocks steady in morning trade
Asian stocks outside Japan are slightly higher in morning trade. According to Reuters concerns about the US administration’s protectionist stance cast a shadow on financial markets. US stocks closed mixed. S&P 500 at 2,837 is down 0.06%.
Govt to infuse Rs88,000 crore in PSU banks by March
The government formally kicked off banking reforms, linking Rs88,000 crore of capital infusion in ailing public sector banks with a set of performance metrics.
IndiGo’s Q3 profit soars 56%
InterGlobe Aviation Ltd, which operates budget airline IndiGo, said its Q3 profit rose 56%, boosted by foreign exchange gains and credits from Pratt & Whitney to compensate for glitches in engines that grounded the airline’s Airbus planes.
Biocon profit down 46% to Rs91.9 crore
Biocon Ltd’s consolidated net profit declined 46% to Rs91.9 crore in the quarter ended 31 December. Net sales rose 1.3% to Rs1,057.9 crore. Read more.
Torrent, Adani, Tata eye CESU Odisha acquisition
At least four companies—Tata Power, Adani Group, Torrent Power and Greenko Group—have shown interest in acquiring Central Electricity Supply Utility of Odisha (CESU Odisha), reports Mint.
Eveready to form JV with Indonesia’s Universal Wellbeing
Battery maker Eveready Industries India Ltd said it will start a company jointly with Indonesian conglomerate Universal Wellbeing Pte Ltd. Besides packaged food and beverages, Universal Wellbeing sells fabric care, home care and personal care products.
Dr Reddy’s, Maruti Suzuki earnings today
Dr Reddy’s Laboratories Ltd, Jindal Steel & Power Ltd, LIC Housing Finance Ltd, Maruti Suzuki India Ltd, and UPL Ltd are some of the notable companies that will release their earnings for the December quarter today.