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Jefferies Adjusts Indian Oil's Price Target to INR175 From INR185, Keeps at Buy

Indian Oil (NSE:IOC, BOM:530965) has an average rating of overweight and mean price target of 162.69 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

BOM:530965NSE:IOC

Asia50d ago

Jefferies Adjusts Indraprastha Gas' Price Target to INR180 From INR205, Keeps at Buy

Indraprastha Gas (NSE:IGL, BOM:532514) has an average rating of overweight and mean price target of 198.80 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

BOM:532514NSE:IGL

Asia50d ago

Mankind Pharma's Consolidated Profit Rises in Fiscal Q4; Shares Up 3%

Mankind Pharma (NSE:MANKIND, BOM:543904) consolidated profit attributable to equity holders climbed to 5.54 billion Indian rupees in the fiscal fourth quarter from 4.21 billion rupees a year ago, according to an Indian bourse filing on Tuesday.Shares of the company rose 3% in Wednesday's trade.Earnings per share for the quarter ended March 31 increased to 13.41 rupees from 10.18 rupees a year earlier, the filing said.The pharmaceutical company's revenue from operations in fiscal Q4 rose year on year to 34.4 billion rupees from 30.8 billion rupees.

BOM:543904NSE:MANKIND

Asia50d ago

Samvardhana Motherson Plans Up to INR50 Billion Debt Offering

Samvardhana Motherson International (NSE:MOTHERSON, BOM:517334) received in-principle board approval to raise up to 50 billion Indian rupees through the issue of debentures on a private placement basis, according to a Wednesday filing to the Indian stock exchanges.The auto components manufacturer plans to issue 500,000 non-convertible debentures with a face value of 100,000 rupees each in one or more tranches.The debt securities will be listed on the BSE or the National Stock Exchange of India.The company's shares were up nearly 2% in recent trade.

BOM:517334NSE:MOTHERSON

Asia50d ago

Malaysian Shares Records Sixth Day of Losses as Macro Tailwinds Fail to Lift Market Gloom

Malaysian shares fell for a sixth straight session on Wednesday, as investors remained downbeat despite positive trade data in April.The FTSE Bursa Malaysia KLCI shed 9.58 points to end nearly 0.6% lower at 1,717.69. The day range was between 1,716.47 and 1,727.50.In economic news, Malaysia's total trade rose 28.6% year-on-year to 336.7 billion ringgit in April, driven by strong growth in both exports and imports, according to data released by the Department of Statistics. Exports surged 36.9% to 182.7 billion ringgit, while imports climbed 20% to 154 billion ringgit. As a result, the trade surplus widened to 28.8 billion ringgit from 23.6 billion ringgit a year earlier.In corporate news, Bus Cap's initial public offering has been oversubscribed by 72.24 times. The IPO involves a public issue of 107.4 million new shares and an offer for sale of 19.2 million existing shares at an IPO price of 0.23 ringgit per share on Bursa Malaysia's ACE Market.Shares of Vizione (KLSE:VIZIONE) gained about 6% on today's close after its unit Bina Permai secured a 65.6 million ringgit contract for main building works of a residential apartment project in Kuala Lumpur, Malaysia.Whereas, shares of Maxis (KLSE:MAXIS) slid about 2% on Wednesday's close after its unit Maxis Broadband issued two tranches of Sukuk Murabahah, totaling 1 billion ringgit, under its existing 10 billion ringgit debt program.

FTSE Bursa Malaysia KLCIKLSE:MAXISKLSE:VIZIONE

Asia50d ago

Da Ming Grants 2 Million Share Awards

Da Ming International (HKG:1090) granted nearly 2 million award shares to eight employees as bonuses under an employee incentive scheme, according to a Wednesday Hong Kong bourse filing.Of the total, 500,000 award shares were granted to Ni Chen, who will join the board as an executive director effective June 1.

HKG:1090

Asia50d ago

China Merchants Property Operation Plans Commercial REIT Listing

China Merchants Property Operation & Service (SHE:001914) will jointly file for a commercial real estate investment trust offering with CMP Financial, according to a Wednesday filing with the Shenzhen bourse.The proposed REIT, to be listed on the Shenzhen Stock Exchange, will include Shenzhen Taizi Plaza and Kunshan Merchants Garden City.CMS Asset Management will act as the fund manager and special plan manager.CMP Financial is a subsidiary of the company's controlling shareholder, CMSK.Shares of the real estate developer closed 2% higher on Wednesday.

SHE:001914

Asia50d ago

Balaji Amines Begins Commercial Production of Dimethyl Ether at Solapur, India Unit; Shares Up 7%

Balaji Amines (NSE:BALAMINES, BOM:530999) has begun commercial production of dimethyl ether (DME) at the fourth unit in Solapur, in Maharashtra, India, with effect from Wednesday, according to a same-day filing to the Indian stock exchanges.The unit has a capacity of 100,000 tons per annum under expansion cum diversification of a new-age gas used as an alternative to LPG for fuel and aerosol applications.With this commissioning, the company will initially focus on catering to the aerosol industry and other commercial applications for heating, as a fuel.The company's shares were up nearly 7% in recent trade.

BOM:530999NSE:BALAMINES

Asia50d ago

Jefferies Adjusts Zydus Lifesciences' Price Target to INR1,200 From INR1,100, Keeps at Buy

Zydus Lifesciences (NSE:ZYDUSLIFE, BOM:532321) has an average rating of overweight and mean price target of 1,031.39 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

BOM:532321NSE:ZYDUSLIFE

Asia50d ago

Hong Lai Huat Buys Back Shares

Hong Lai Huat (SGX:CTO) bought back 650,000 shares worth SG$55,275 on Wednesday, according to a same-day filing with the Singapore Exchange.The property developer is authorized to buy back around 48.3 million shares under its existing buyback mandate.

SGX:CTO

Asia50d ago

Singapore Shares Close Lower; TSH Resources Slides 7%

Singapore shares ended lower on Wednesday amid mounting inflation concerns as elevated oil prices, driven by the ongoing U.S.-Iran stalemate, weighed on investor sentiment.The Straits Times Index ranged between 5,024.99 and 5,069.45 throughout the day. It ended the session down by 27.43 points, or 0.5%, to close at 5,044.91.On the corporate front, Singapore-listed shares of TSH Resources (SGX:TSH, KLSE:TSH) fell 7% at the close after the palm oil company reported a 56% decline in its attributable profit to 21.3 million ringgit from 48.2 million ringgit a year earlier.TrickleStar (SGX:CYW) closed 3% lower as it was granted in-principle approval by the SGX-ST for the listing and quotation of 79.1 million shares.Meanwhile, shares of Sembcorp Industries (SGX:U96) were up nearly 1% after its subsidiary, Sembcorp Energy UK, signed a joint development agreement to deliver the first phase of a new data center development at the Wilton International site in Teeside, UK.

^STISGX:CYWSGX:TSHSGX:U96

Asia50d ago

Market Chatter: Thailand Green Lights 200 Billion Baht Borrowing to Support Subsidy Initiative

Thailand's cabinet approved a 200 billion baht borrowing, to be raised in stages through term loans and promissory notes, to bolster a consumer subsidy plan, Reuters reported Tuesday.The move comes to counter a rising cost of living resulting from the uncertainty related to the Middle East conflict, the newswire reported citing Finance Minister Ekniti Nitithanprapas.The scheme will offer 1,000 baht each to around 43 million people from June to September, Reuters said citing the finance ⁠ministry's permanent secretary Lavaron Sangsnit.Various consumer goods will be subsidized at 60% of their price, with a cap of 200 baht per day.Following the borrowing, the country's public debt-to-GDP ratio will rise to around ⁠68% by the end of the four months, lower than the 70% ceiling, head of the Public Debt Management Office, Jindarat Viriyataveekul, told Reuters.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

^SET

Asia50d ago

Marco Polo Marine Issues 1.1 Million Shares Following Options Exercise

Marco Polo Marine (SGX:5LY) issued about 1.1 million new shares at an exercise price of SG$0.067 per share following the exercise of options under its employee share option scheme.The new shares will be listed and quoted on May 21, according to a Wednesday filing with the Singapore Exchange.

SGX:5LY

Asia50d ago

Hong Fok Buys Back More Shares

Hong Fok (SGX:H30) bought back 94,000 shares in the open market on Wednesday for around SG$92,582, according to a same-day after-market filing with the Singapore Exchange.To date, the property investment company has bought back 2.3 million shares under the current buyback program.

SGX:H30

Asia50d ago

Genimous Technology Elects Permanent Chairman

Genimous Technology (SHE:000676) formally elected Xiao Huan, general manager and head of strategic investment, to serve as chair, according to a Wednesday filing with the Shenzhen bourse.The appointment transitions Xiao out of his previous acting capacity as chair, the filing said.Shares of the software company were down 4% Wednesday.

SHE:000676

Asia50d ago

Indobell Insulations Bags US Export Order; Shares Up 5%

Indobell Insulations (BOM:544334) has secured an export order worth $91,300 from U.S.-based GE Vernova Operations, according to a BSE filing on Wednesday.The order is for the supply of steam turbine insulation - blanket therm by January 2027.The company's shares were up 5% in recent trade.

BOM:544334

Asia50d ago

South Korean Shares Lower for Second Day on Foreign Outflows, Renewed US-Iran Tension

South Korean shares closed lower for a second day on Wednesday after foreign investors continued their sell-off of Korean equities, and fresh tensions on the U.S.-Iran front made investors pessimistic about a peace pact anytime soon.The Korea Composite Stock Price Index or Kospi decreased by 62.71 points, or 0.9%, to end at 7,208.95. The Kosdaq also declined by 28.29 points, or 2.6%, to close at 1,056.07.U.S. President Donald Trump said Tuesday that Washington could launch new strikes on Iran as early as next week if negotiations could not resolve the conflict and if Tehran continues to refuse the considerable concessions he wants before a deal can be framed to end the war.In retaliation, Iran's Islamic Revolutionary Guard Corps threatened to extend a revived war beyond the Middle East if the US again began attacks against Tehran.In corporate news, Samsung Electro-Mechanics (KRX:009150) secured a supply agreement for silicon capacitors from an undisclosed client. The contract, valued at 1.56 trillion won, is valid till Dec. 31, 2028.Shares of the company jumped nearly 8% at market close.In other news, South Korea's main equity exchange, the Korea Exchange, is planning to launch weekly options on single stocks from June, expiring on Thursdays.The exchange is also gearing up to launch monthly and weekly exchange-traded fund (ETF) derivatives later in 2026, while expanding weekly options expiries for the Kospi 200 and Kosdaq 150 indexes to Tuesdays, Wednesdays, and Fridays from the current schedule of Mondays and Thursdays.

^KOSDAQKOSPIKRX:000660KRX:005930KRX:009150

Asia50d ago

JSW Energy's Consolidated Profit Rises in Fiscal Q4

JSW Energy's (NSE:JSWENERGY, BOM:533148) consolidated attributable profit rose to 22.4 billion Indian rupees in the fiscal fourth quarter ended March 31, from 19.5 billion rupees a year ago.Earnings per share came in at 12.74 rupees from 11.18 rupees a year earlier, the renewable energy company said in a filing to the Indian stock exchanges on Wednesday.Revenue from operations in fiscal Q4 also increased to 189.0 billion rupees from 117.5 billion rupees a year ago.The company's shares were up nearly 1% in recent trade.

BOM:533148NSE:JSWENERGY

Asia50d ago

Super Telecom to Invest Nearly 26 Million Yuan for 51% of Computing Server JV

Super Telecom (SHA:603322) looks to invest 25.5 million yuan for a 51% stake in a computing server joint venture, according to a Wednesday filing with the Shanghai bourse.The company and Guangzhou Runzhiyun Technology will set up the Chaoxun Digital Intelligence (Guangdong) Technology joint venture with a registered capital of 50 million yuan.Runzhiyun will hold 49% in the JV, with an investment of 24.5 million yuan..

SHA:603322

Asia50d ago

C. E. Info Systems' Consolidated Profit Climbs in Fiscal Q4; Shares Fall 5%

C. E. Info Systems (NSE:MAPMYINDIA, BOM:543425) consolidated profit attributable to the owners rose to 507.7 million Indian rupees in the fiscal fourth quarter from 485.7 million rupees a year ago, according to an Indian bourse filing on Tuesday.Shares of the company fell 5% in Wednesday's trade.Earnings per share for the quarter ended March 31 climbed to 9.24 rupees from 8.83 rupees a year earlier.The digital mapping company's revenue from operations inched up year on year to 1.45 billion rupees from 1.44 billion rupees, the filing said.CE Info Systems' board recommended a final dividend of 3.50 rupees per share for financial year ended March 31.

BOM:543425NSE:MAPMYINDIA

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