US stock end higher; Asian markets see weak opening
Asian markets were subdued early on Tuesday despite gains seen on Wall Street on the back of an apparent cooling in recent US-China trade tensions.
US stocks closed higher on Monday as trade tensions between the US and China dissipated for the moment, while investor sentiment was also boosted by news of deal making activity.
NCLAT issues notice to Tata Steel over Bhushan Steel acquisition
The National Company Law Appellate Tribunal (NCLAT) refused to grant an interim stay on acquisition of Bhushan Steel Ltd by Tata Steel Ltd. “Let us decide the law, but not stall the process,” a bench headed by Justice S.J Mukhopadhyay said.
India’s Q4 GDP growth likely at 7.4%: Icra
Rating agency Icra Ltd expects gross domestic product (GDP) growth in the fourth quarter of the fiscal 2017-18 at 7.4% on account of good rabi crop harvest and improved corporate earnings, up from 7.2% in the third quarter.
Moody’s downgrades PNB on impact of Nirav Modi fraud
International rating agency Moody’s Invertor Service said it has downgraded state-run Punjab National Bank’s (PNB) rating to Ba1/NP from Baa3/P-3, due to impact on the lender’s profitability following the Nirav Modi fraud case.
Colgate-Palmolive Q4 net profit rises 32% to Rs188.77 crore
FMCG major Colgate-Palmolive India Ltd (CPIL) reported an increase of 32.39% in its net profit to Rs188.77 crore for the fourth quarter ended 31 March led by strong volume growth.
Tata Power, Actis in fray to buy Essel’s solar power plants
Tata Power Ltd and Actis LLP are in separate talks to buy the solar power business of Subhash Chandra’s Essel Infraprojects Ltd, reports Mint.
NSE to delist Kingfisher Airlines, 17 others from 30 May
National Stock Exchange has decided to delist Vijay Mallya-promoted Kingfisher Airlines Ltd and Plethico Pharmaceuticals Ltd and 16 other companies from 30 May.
Earnings corner
Andhra Bank, Bata India, Cipla, Dr Reddy’s Laboratories, IOC and State Bank of India are among the companies that will be announcing their March quarter earnings today.