Indian shares opened higher on Monday after reports of advanced talks for the acquisition of collapsed Silicon Valley Bank brought relief to markets, although fears of contagion in the global banking system lingered.
Among individual Indian stocks, shares of Phoenix Mills
jumped nearly 6% after global brokerage firm Morgan Stanley initiated coverage on the stock with an "overweight" recommendation.fell nearly 2% after the company said it might incur certain expenses in connection to an IT security incident that occurred earlier this month.
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House Republicans demand Biden answer on Chinese ties to collapsed Silicon Valley BankA group of 20 Republicans in the House of Representatives have signed a letter to President Biden demanding clarification on the relationship between Silicon Valley Bank and the Chinese Communist Party.
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