Opening bell: Asian markets open mixed; Wipro, Dredging Corp in news
In other news, GST Council relaxed return filing rules for businesses for the first two months of the roll out of the new indirect tax regime even as it stuck to the 1 July launch date
US equities end higher; Asian markets open mixed
The S&P 500 ended marginally higher for the week on Friday following a deal that ignited a sell-off among big retail and grocery companies.
Asian bourses were mixed in early trade on Monday as markets geared up ahead of Brexit negotiations between the UK and the European Union, and as French President Emmanuel Macron’s party won a parliamentary majority at the weekend.
Govt to allow late return filing in first two months of GST
The goods and services tax (GST) Council relaxed return filing rules for businesses for the first two months of the roll out of the new indirect tax regime even as it stuck to the 1 July launch date.
SBI may look at IPO of general insurance business next fiscal
State Bank of India has said it may look at taking the general insurance business public next fiscal, ruling out any such move in 2017-18. SBI General Insurance is a joint venture between SBI and Insurance Australia Group.
Govt planning strategic sale of Dredging Corp through auction
The government is planning an outright sale of Dredging Corporation of India (DCIL) through auction, which could fetch about Rs1,400 crore to the exchequer.
Wipro flags cybersecurity breaches as potential risk to business
IT major Wipro has listed cybersecurity breaches as a potential risk to its business, stating that such attacks could lead to financial obligations to its customers.
Tata Sons to buy Tata Steel stake in Tata Motors on or after 23 June
Tata Sons Ltd, the holding company of India’s salt-to-software Tata conglomerate, plans to buy out Tata Steel Ltd’s stake in Tata Motors Ltd on or after June 23, it said in a regulatory filing.
CDSL and GTPL Hathway IPOs to hit market this week, eye Rs1,000 crore
Aiming to tap the upbeat investor sentiment, two companies—Central Depository Services (India) Ltd (CDSL) and GTPL Hathway—will launch initial public offers (IPOs) this week to raise over Rs1,000 crore.
Sebi likely to relax promoter norms
The Securities and Exchange Board of India (Sebi) is likely to relax rules to make it easier for a public shareholder to become the promoter of a company, and vice versa, reports Mint.