Opening bell: Asian markets open mixed on Fed rate hike; RCom, SBI in news
US stocks end higher; Asian markets open mixed
US stocks closed higher Wednesday, helped by a bounce in oil prices, after the Federal Reserve took a less aggressive stance than expected. The central bank did raise interest rates, as expected.
Shares in Asia were mixed on Thursday, after Wall Street’s higher close after the Federal Reserve raised rates but kept a dovish stance.
Moody’s says BJP’s win in UP elections a credit positive
The ruling Bharatiya Janata Party’s (BJP) electoral wins in the just concluded assembly elections in five states show broad-based popular support for the Central government’s economic and institutional reform agenda which is a credit positive for the sovereign, rating agency Moody’s Investor Service said.
RCom gets Sebi nod for merger with Aircel, Dishnet Wireless
Anil Ambani-promoted Reliance Communications Ltd (RCom) has obtained approval from capital markets regulator Securities and Exchange Board of India (Sebi) to spin-off and merge its wireless division with Aircel Ltd and Dishnet Wireless Ltd, as per stock market disclosure.
Govt to amend EPFO Act to enable subscribers to buy homes
Government will amend EPF scheme to enable around 4 crore members of retirement fund body EPFO to withdraw up to 90% of their fund for making down payments while buying homes.
GST council likely to discuss cess on luxury cars, tobacco products Thursday
The goods and service tax (GST) council is likely to endorse on Thursday supplementary legislations needed for implementation of the tax reform. Read more
Shankara Building Products IPO on 22 March at Rs440-460 price band
Shankara Building Products Ltd, an organized retailer of home improvement and building products, said it would launch its initial public offering (IPO) on 22 March.
SBI to raise up to Rs15,000 crore via equity capital next fiscal
State Bank of India (SBI) said that its board has approved a plan to raise up to Rs15,000 crore through equity capital in the next fiscal year.
Cabinet approves 2% DA hike from Jan 2017 for central government employees
The Union cabinet approved a 2% hike in dearness allowance (DA) and dearness relief for central government employees and pensioners from 1 January 2017. Read more