Opening Bell | All eyes on the Reserve Bank; Airtel, Maruti, Nestle in focus
Asian markets opened higher, ahead of the manufacturing data from China; overnight US markets closed slightly lower
US markets close slightly lower
Asian markets opened higher, ahead of the manufacturing data from China. Overnight US markets closed slightly lower. S&P 500 lost 0.46% to 2,080. Read more.
Reserve Bank may not alter key policy rate
The Reserve Bank of India (RBI) is expected to leave its key policy rate unchanged but may find room to ease rates further in 2016, according to a poll of treasurers and economists at 10 top domestic and foreign banks. Read more.
GDP accelerates in September quarter
India’s economic growth accelerated to 7.4% in the second quarter of the current financial year, riding on a spike in industrial activity and pick-up in investment demand. If the current acceleration in growth sustains, it suggests a revival, reports Mint. According to another report, the growth rate of eight core sectors industries slowed to 3.2% in October from a year earlier.
Foreign borrowing norms relaxed
The RBI has approved a set of more liberal external commercial borrowing norms, allowing Indian companies to raise rupee resources from overseas lenders, without incurring currency risks, reports Business Standard. The new norms will be effective 1 April 2016, the report says.
Airtel to invest ₹ 60,000 crore over three years
Bharti Airtel Ltd plans to invest ₹ 60,000 crore over the next three years to significantly increase its network capacity and ability to offer voice and high-speed data services.
Airtel, Vodafone may buy Videocon spectrum
Bharti Airtel and Vodafone India may buy additional spectrum in three circles from Videocon due to their need of fourth generation technology-based radio waves in Bihar, Uttar Pradesh East and Haryana circles, India Ratings reportedly said.
Maruti Suzuki plans land acquisition subsidiary
Maruti Suzuki India Ltd plans to acquire land at 5,000 sites across the country under a new subsidiary, which will then lease it out to build future dealerships, reports Mint. The company has hired real estate executives to identify these sites.
Nestle resumes noodles production at all plants
Nestle India Ltd has resumed production of Maggi noodles at all five facilities in India, reports PTI. The company manufactures noodles at its plants in Nanjangud (Karnataka), Moga (Punjab), Bicholim (Goa), Tahliwal and Pantnagar in Himachal Pradesh.
Rajesh Exports receives order worth ₹ 1,122 crore
Jewellery firm Rajesh Exports Ltd has received an export order worth ₹ 1,122 crore for gold and diamond jewellery and medallions from the UAE. The order is to be completed by March next year.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!