Thu, Sep 29, 2022 5:56 PM
India's April-June existing account deficit widens to 2.8% of GDP
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Shares of REC staged a recovery on Wednesday, snapping a two-day losing streak after the management in a conference call clarified on the impact of the Reserve Bank of India's draft guidelines on project financing. The management said that the draft RBI guidelines will not impact the company adversely. REC's management also said that the aim is to double its AUM to $125 billion by 2030.
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Stocks in Asia struggled for direction following a sluggish US session, with investors split on whether the market can sustain this month’s rally given economic crosscurrents. Equities in Japan fell while those in South Korea and Australia climbed. Futures for Hong Kong pointed to a flat open. Contracts for US stocks were little changed.
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Reddit Inc. shares jumped more than 10% in extended trading after improvements to the social media platform’s advertising system helped push quarterly sales higher than expected in its first results as a public company. Revenue increased 48% to $243 million in the period ended March 31, the social media company said Tuesday in a statement.
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