Asian markets gain in morning trade on Friday. Photo: Aniruddha Chowdhury/Mint
Asian stocks gain in morning trade
Asian shares gained in morning trade as comments from a US Federal Reserve official eased worries that the central bank might raise rates more aggressively this year, reports Reuters. Overnight, US stocks closed slightly higher. S&P 500 at 2,703 points is up 0.1%.
Infosys files counterclaim against former CFO
After submitting an application to resolve its former chief financial officer Rajiv Bansal’s severance pay issue, Infosys has filed a counter-suit for Rs100 crore, alleging that he did not fulfil his obligations and breached trust, reports The Hindu Business Line.
Adani Transmission bags Rajasthan project
Adani Transmission said it has received a letter of intent from PFC Consulting Ltd, an arm of Power Finance Corporation, to construct, own, operate and maintain an inter-state transmission project in Rajasthan.
Trying to get Fortis back on track: Singh brothers
Fortis Healthcare founders Malvinder Mohan Singh and Shivinder Mohan Singh said they are trying to get Fortis Healthcare back on track even as they relinquished their board positions, reports Business Standard.
Meanwhile, promoter holding in the troubled Fortis has fallen to an all-time low of 3% from about 8.6% just three weeks ago and 34.4% at the end of December 2017, due to invocation of pledged shares by financiers, reports The Times of India.
Petronet eyeing ‘eco-structure’ to boost LNG adoption
Petronet LNG Ltd, India’s largest importer of liquid gas, plans to set up a liquefied natural gas eco-structure, reports Mint. It would require an investment of around Rs15,000 crore over the next decade. Petronet’s investment is pegged at Rs1,500 crore over a few years.
Federal Bank to acquire a 26% stake in Equirus Capital
Federal Bank Ltd said it would acquire a 26% stake in investment bank Equirus Capital Pvt. Ltd. Financial details of the transaction were not disclosed. Read more
