FINWIRES · TerminalLIVE
FINWIRES

Reliance Power Swings to Loss in Fiscal Q4

By

Reliance Power (NSE:RPOWER, BOM:532939) booked a consolidated loss of 4.94 billion Indian rupees in the fiscal fourth quarter, compared with consolidated profit of 1.26 billion rupees a year earlier, according to a Thursday filing with the Indian exchanges.

Loss per share during the quarter ended March 31 stood at 1.194 rupees, compared with earnings per share of 0.280 rupees a year earlier.

Revenue from operations in fiscal Q4 decreased to 18.9 billion rupees from 19.8 billion rupees a year earlier.

Shares of the company fell nearly 1% in Friday's trading.

Related Articles

Asia

Emerging Asia Sees Strong Capital Flows, But Differentiation Emerges, Fitch Says

Solid Asia-Pacific corporate and financial institution credits continue to anchor capital flow and benchmark deals in the region, Fitch Ratings said in a Friday release.Global emerging market portfolio inflows reached $58.3 billion in April, a reversal of the $66.2 billion outflow in March, Fitch cited the Institute of International Finance as saying.Emerging Asia accounted for the largest share in debt investments for the month, indicating stable investor demand for Asian debt despite oil price pressure due to the Iran war, Fitch said.Emerging markets including India, Indonesia, the Philippines, Sri Lanka, and Thailand have observed depreciation in the 5% to 7% range due to the Iran conflict, reflecting oil import reliance and fuel buffers, the rating agency said.Investor appetite among emerging Asian markets exhibits differentiation, as seen in greater FX reserve drops for the Philippines and Sri Lanka compared to the others, Fitch said.The rating agency believes sovereign support anchors funding access for issuers, with debt markets gaining from countries' external positions, deeper domestic funding markets and better policy response to shocks.

$^HSI$^JKSE$^PSEi$^SET$^SSEC$^SZSE
Asia

ApicHope Pharmaceutical Unit Gets China Nod for Hemostatic Drug

ApicHope Pharmaceutical (SHE:300723) unit Guangzhou Yipinhong Pharmaceutical obtained drug registration from China's medical products regulator for aminocaproic acid injection.The drug is used to treat various bleeding caused by hyperfibrinolysis, according to a Friday fling with the Shenzhen bourse.The approval is valid until May 2031.Shares of the pharmaceutical company were up 3% Friday.

$SHE:300723
Asia

Hong Kong Stocks End Higher After Roller Coaster Week; TenNor Therapeutics Soars in Debut

Hong Kong stocks zigzagged between gains and losses over the past four sessions, but managed to end the tumultuous week in positive territory.The Hang Seng Index rose by 219.51 points, or 0.9%, to end at 25,606.03, while the Hang Seng China Enterprises Index increased by 75.55 points, or 0.9%, to close at 8,550.87.U.S. Secretary of State Marco Rubio said there had been "some good signs" in talks between Washington and Tehran, but both sides remained at odds over Iran's uranium stockpile and controls on the Strait of Hormuz, Reuters reported.Meanwhile, analysts warned that the upcoming global initial public offering of Elon Musk's SpaceX could siphon off funds from the broader Asia-Pacific region, including Hong Kong, in preparation for subscriptions, the South China Morning Post reported.The aerospace company is reportedly seeking $75 billion in what could be the world's largest IPO, topping Saudi Aramco's $29.4 billion offering in 2019.In local development, Hong Kong's consumer inflation held steady at 1.7% year over year in April, unchanged from the previous month.Hong Kong financial markets will be closed on Monday, May 25, for a local holiday and reopen on Tuesday, May 26.In corporate news, Chinese biotech firm TenNor Therapeutics (HKG:6872) had a stellar debut in Hong Kong as its shares closed at HK$211, 179% higher than its IPO price of HK$75.70.

$^HSI$HKG:6872