BackOpening bell: Asian markets open lower; Bhel, Novartis India in news
In other news, Shoppers Stop shares hit 2-and-half year high on Amazon stake sale
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US stocks end lower; Asian markets follow suit
US stocks closed lower Monday as declines in technology stocks offset gains in energy stocks.
Asian markets were pressured in early Tuesday trade, following declines on Wall Street overnight, as the war of words between North Korea and the US escalated.
PM Modi reconstitutes Economic Advisory Council to revive GDP growth
Putting economic growth revival in the spotlight, Prime Minister Narendra Modi reconstituted the Economic Advisory Council under the chairmanship of NITI Aayog member Bibek Debroy.
RBI revises investment, trading rules for banks
The Reserve Bank of India (RBI) barred banks from investing in category III alternative investment funds (AIFs), specified norms for their participation in commodity derivatives clearing, and tweaked rules on investing in financial services firms.
Bhel gets shareholders’ nod for bonus share issue, 79% dividend
State-owned power equipment maker Bhel has received shareholders’ approval for the proposal to issue 1 new equity bonus share for every 2 existing shares.
Suven Life Sciences gets neuro patent from India, Japan
Drug firm Suven Life Sciences has been granted a patent each by India and Japan for a drug used in the treatment of neuro-degenerative diseases.
Shoppers Stop shares hit 2-and-half year high on Amazon stake sale
Departmental store chain Shoppers Stop’s shares rose as much as 20% to Rs499.70, their highest level since January 2015.
Novartis India board clears share buyback worth up to Rs231 crore
Novartis India Ltd said its board of directors approved share buyback worth up to Rs231 crore. Read more.
IDBI Bank sells 1% stake in Sidbi
State-owned IDBI Bank Ltd said it has sold 1% stake in Small Industries Development Bank of India (Sidbi) for an undisclosed amount in a bid to mobilise funds by exiting non-core business.
Apollo Micro Systems files for IPO
Apollo Micro Systems Ltd has filed draft papers with the Securities and Exchange Board of India (Sebi) to raise about Rs156 crore through an initial share-sale offer.
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