US markets close mixed
Overnight, the US markets closed mixed. S&P 500 at 2,294 points is up 0.07%. Asian markets are little changed in morning trade.
RBI signals end to rate cut cycle
The Reserve Bank of India (RBI) signalled an unexpected early end to the two-year-old rate cut cycle, citing concerns of resurgent inflation, and left its key policy rate unchanged. Read more.
Domestic air traffic may grow 25% next fiscal
Aviation consultancy CAPA expects the domestic air traffic to grow 25% and cross 130 million in 2017-18 but airlines will see bigger risks to profitability due to rising costs and yield pressure, reports Business Standard.
Kumar Birla may head Vodafone and Idea combine
Details emerging of early talks between Vodafone India Ltd and Idea Cellular Ltd indicate that Aditya Birla Group chairman Kumar Mangalam Birla could be chairman of the merged entity, reports Mint.
Cipla Q3 net profit jumps 43.85% to Rs374.83 crore
Cipla Ltd reported 43.85% jump in consolidated net profit at Rs374.83 crore for the third quarter ended 31 December 2016. Net sales increased 15.63%.
Hero MotoCorp’s Q3 profit declines, but exceeds estimates
Cost-cutting efforts and lower raw material prices helped Hero MotoCorp Ltd contain the impact of demonetisation on its net profit, which declined 2.67% in the December quarter from a year ago, but beat analyst estimates.
United Breweries asks Mallya to step down as chairman
United Breweries Ltd has asked Vijay Mallya to step down as non-executive chairman of the company. The decision was taken at the company’s board meeting on Wednesday.
Govt sets record disinvestment target for FY18
Failure to meet annual divestment targets in all but three in the last 16 years did not prevent the government from setting out another record target this time: Rs72,500 crore, reports Mint.
Green cards targeted in US senators’ bill
Two US senators have proposed a legislation to cut the number of legal immigrants to the US by half within a decade, a move that could adversely hit those aspiring to get a green card or permanent residency in the US, reports PTI.
Lupin, Power Grid earnings today
BPCL Ltd, Cairn India Ltd, Aurobindo Pharma Ltd, Bata India Ltd, ABB India Ltd, Escorts Ltd, Lupin Ltd, Power Grid Corp. of India Ltd, and Page Industries Ltd are some of the companies that will release their earnings on Thursday.
