Opening bell: Asian markets open flat; Coal India, M&M in news
US equities end off session lows; Asian markets open flat
US stocks closed off session lows Monday as traders anticipated an interest rate hike on Wednesday. Asian markets traded sideways on Tuesday, following Wall Street’s mixed close as the US Federal Reserve’s kicks off its two-day meeting.
UP election victory may put Modi govt’s reform agenda back on track
The scale of the Bharatiya Janata Party’s (BJP) victory in Uttar Pradesh may embolden the central government to push for economic and social reforms. Experts say that the remaining two years of the current government at the Centre will see bolder initiatives.
UTI MD Leo Puri says close to an IPO, will seek all shareholders’ nod
UTI Asset Management Co. Ltd has enough shareholder backing to clear a proposal for an initial public offering (IPO), but the management wants approval from all its five shareholders, reports Mint.
Infosys names Pervinder Johar as CEO of Edgeverve unit
Infosys Ltd has appointed Pervinder Johar as the new chief executive officer (CEO) of Edgeverve, its wholly-owned products and platforms subsidiary. Read more
Coal India may miss output target by 20 MT this fiscal: Coal secretary
State-owned Coal India is likely to miss the production target by 20 million tonne (MT) and may end up producing up to 578 MT this fiscal year due to a string of issues, including evacuation and demand-supply.
Mahindra & Mahindra divests 7.5% stake in Mahindra Holidays
Mahindra & Mahindra has divested 7.5% stake in the group hospitality arm Mahindra Holidays & Resorts India Ltd (MHRIL) for around Rs274.36 crore.
ACC sells 12.13% stake in Shiva Cement to JSW
ACC Ltd has sold its 12.13% stake in Odisha-based Shiva Cement Ltd to JSW Cement Ltd for about Rs38.67 crore in an off-market transaction.
Alkem Lab gets three observations from USFDA for Baddi plant
Drug firm Alkem Laboratories said the US health regulator has inspected its Baddi plant and issued three observations on account of violation of good manufacturing norms.