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Opening bell: Asian stocks open mixed; IndiGo, Siemens, Fortis in news.

Date: 03-05-2018
Subject: Opening bell: Asian stocks open mixed; IndiGo, Siemens, Fortis in news
Asian shares opened subdued ahead of the Sino-US trade talks, reports Reuters. Overnight US stocks closed mixed. S&P 500 at 2,635 is down 0.7%.

IndiGo Q4 profit falls 73% to Rs117.6 crore

InterGlobe Aviation Ltd run IndiGo said its net profit for the March quarter fell 73% from a year ago on costlier fuel, lower yields and aircraft groundings.

In another report, the Securities and Exchange Board of India (Sebi) is looking into a plunge in shares of InterGlobe Aviation Ltd just before the company announced the departure of its top executive Aditya Ghosh.

Tata Power reports Q4 profit of Rs1,478 crore

Improved performance by its renewables business and a one-time reversal of a write-off on its Mundra power plant led Tata Power to report 751% recovery in headline net profit for the January-March quarter.

Siemens March quarter profit rises 18%

Siemens posted 18% rise in its standalone net profit to Rs219.7 crore in the quarter ended March this year, reports PTI. Revenue rose 10.6%.

Former Tata Power chief to head Adani Transmission

Former managing director (MD) and chief executive officer (CEO) of Tata Power Anil Sardana has been appointed as the MD and CEO of Adani Transmission Ltd, reports Business Standard.

Manipal-led bid for Fortis Healthcare faces objections

Two major investors in Fortis Healthcare, who have concerns over the bidding process, plan to vote against a Manipal Hospitals-led consortium if that group is selected as the winning bidder, reports Reuters.

Godrej, Patanjali among bidders for Ruchi Soya

Patanjali Ayurveda submitted a bid for Ruchi Soya Industries, reports The Times of India. The company joins Godrej Agrovet, Adani Wilmar and Emami who too submitted bids for Ruchi, the report adds.

Castrol India, MRF, Adani Ports earnings today

Castrol India Ltd, MRF Ltd, JSW Energy Ltd, Adani Ports & SEZ Ltd, Adani Power Ltd, JSW Energy Ltd, IRB Infrastructure Finance Ltd, and PNB Housing Finance Ltd are some of the companies that will release their earnings for the March quarter today.

Source: livemint.com

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