Opening bell: Asian markets open mixed; Shree Cement, Maruti Suzuki in news
US stocks close lower; Asian markets open mixed
US equities closed slightly lower on Friday, led by healthcare, as investors digested US Federal Reserve officials’ remarks on the monetary policy and falling oil prices.
Asian markets were mixed, with investors likely to continue eyeing Donald Trump-related news for implications for the region.
Stalemate over GST jurisdiction continues
The momentum for the implementation of the goods and services tax (GST) slowed on Sunday after the Centre and the states failed to reach a political consensus over sharing of administrative powers in the new indirect tax regime.
NBFCs, MFIs await RBI directive on old currency
Non-banking financial companies (NBFCs) and micro-finance institutions, two sets of lenders that deal heavily in cash, are in a bind in the backdrop of demonetisation of high-value notes, as they are yet to receive any clarification from the central bank on how to proceed.
16 of 22 public sector banks skip dividend in FY16 on mounting NPAs
Saddled with mounting bad loans, as many as 16 public sector banks, including Punjab National Bank, Bank of Baroda and Canara Bank, skipped paying a dividend in 2015-16, leading to three-fold decline in government receipts to Rs1,444.6 crore.
Demonetisation: Liquidity to stay, interest rates may fall further, says SBI
Additional liquidity that is coming into the banking system following demonetisation will not go away in a “hurry” and may pull down interest rates further, the country’s largest lender State Bank of India (SBI) said.
Shree Cement in bid to buy Shiva Cement
Shree Cement Ltd has submitted a preliminary offer to buy a majority stake in Odisha-based Shiva Cement Ltd. Read More.
Seven Maruti models among top 10 best selling passenger vehicles in October
Maruti Suzuki India (MSI) continued to hold sway in the domestic passenger vehicles market in October with seven of its models featuring among the top 10 selling brands last month.
Oil firms plan to set up seven 2G ethanol units for Rs4,000 crore
State-run fuel retailers Indian Oil Corp. Ltd, Bharat Petroleum Corp. Ltd and Hindustan Petroleum Corp. Ltd will set up around seven so-called second generation ethanol plants across the country. Read More.
PNB cuts deposit rates by up to 0.25%
Flush with funds, Punjab National Bank (PNB) on Saturday trimmed interest rate on fixed deposits by up to 0.25% in line with competition.