Opening bell: Asian markets open mixed; SBI, Reliance Group, PVR in news

Reliance Group said that it will sell a 49% stake in its radio business and its entire TV business to Zee Group entities to help cut debt by Rs1,900 crore

Photo: Madhu Kapparath/Mint
Photo: Madhu Kapparath/Mint

US markets end mixed; Asia follows suit

US stocks closed mixed on Wednesday as investors digested a number of economic data, including minutes from the US Federal Reserve’s November meeting.

Markets in Asia traded mixed on Thursday, with Japanese shares climbing as the market re-opened after being shut Wednesday for a public holiday.

Rupee nears record low as foreign investors flee

The Indian rupee closed within striking distance of its 2013 record low against the dollar on Wednesday as investors flee the risk of emerging market assets on expectations of a rate increase next month by the US Federal Reserve.

Cash crunch: Analysts cut India GDP growth forecast

Securities houses and rating agencies have cut their estimates of India’s GDP growth in anticipation of temporary headwinds from the 8 November demonetisation of high-value currency notes.

Reliance Group to sell TV business, 49% of radio unit to Zee

Anil Ambani’s Reliance Group on Wednesday said that it will sell a 49% stake in its radio business and its entire TV business to Zee Group entities to help cut debt by Rs1,900 crore.

SBI slashes bulk deposit rates by up to 1.9%

Days after Prime Minister Narendra Modi signalled that rates are on the way down, State Bank of India (SBI) on Wednesday slashed bulk deposit rates by up to 1.9%, taking advantage of the surge in deposits following demonetisation.

Reliance Jio fails to hit subscriber base of Airtel, Idea, Vodafone: analysts

Even after nearly two months of free services, Reliance Jio Infocomm Ltd has not been able to impact the net subscriber additions for incumbent telecom operators. Read more.

GVK Airport in talks to raise $200 million to refinance loans

GVK Airport Developers Ltd, a unit of GVK Power and Infrastructure Ltd, is in talks to raise close to $200 million in structured debt to refinance a part of its borrowings.

Siemens Q4 profit jumps 11-fold to Rs2,467crore on divestment gain

Siemens’ fourth quarter profit jumped more than 11-fold to Rs2,467 crore compared with Rs219.1 crore in the year-ago period, driven by stake sale in healthcare undertaking.

Cipla sells 16.7% stake in Chase Pharma to Allergan

Drugmaker Cipla Ltd on Wednesday said its British subsidiary has sold its 16.7% stake in US-based Chase Pharmaceuticals Corp. to Allergan plc, following Allergan’s acquisition of Chase Pharma. Read more.

Sebi notice to PVR over alleged violation of listing norms

Market regulator Securities and Exchange Board of India (Sebi) has issued a show cause notice to multiplex operator PVR’s chairman and managing director Ajay Bijli over alleged violation of listing norms.

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