Indian shares set to open lower; Kotak Mahindra Bank in focus [Reuters]
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Source: Reuters
focus on Kotak Mahindra Bank after the Reserve Bank of India barred the lender from taking on new clients digitally. India's GIFT Nifty was trading at 22,354.50, as of 08:10 a.m. IST, indicating that the Nifty 50 will open below its Wednesday's close of 22,402.40. The benchmark Nifty and S&P BSE Sensex indexes rose for a fourth session on Wednesday, gaining about 2% each over the period, helped by easing concerns over escalations in the Middle East tensions. Shares of Kotak Mahindra Bank will be in the spotlight after India's central bank the private lender from taking on new customers through its online and mobile banking channels. Nifty 50 constituents Hindustan Unilever , Axis Bank and LTIMindtree will also be in focus after their results. While Hindustan Unilever a 6% drop in profit, missing estimates, IT company LTI Mindtree a smaller-than-expected revenue in the March quarter, hurt by weakness in its banking vertical and client spending. Axis Bank's fourth-quarter pr
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