Opening bell: Asian markets open lower; RBI policy today; SBI, M&M in news
US equities end lower; Asian markets follow suit
US stocks erased earlier gains to close lower Wednesday after the Federal Reserve released the minutes from its March meeting.
Asian markets fell on Thursday morning, tracking losses on Wall Street after the Fed minutes were viewed as hawkish.
Monetary Policy Committee meet begins, RBI likely to hold policy rate
The Monetary Policy Committee, headed by RBI governor Urjit Patel, began its 2-day meeting on Wednesday amid experts saying that the central bank is likely to hold the rate on Thursday while unveiling the first bi-monthly review of 2017-18 in view of hardening inflation.
SBI shares close at 25-month high on merger with five associate banks
Shares of State Bank Of India, India’s largest lender, closed at a 25-month high on Wednesday, gaining for the ninth straight trading session.
Move to link Aadhaar and PAN hits name hurdle
The amended Finance Act insists on quoting Aadhaar to retain your permanent account number (PAN), but the government is now dealing with the practical difficulties of ensuring this linkage.
H1B visa curbs: US Labour Department announces steps to protect local workers
The US has said it will “rigorously” use its authority to initiate investigations of H1B visa violators, signalling an intensified effort by the Trump administration to stop “abuse” of the programme mainly used by Indian IT firms and professionals.
Shankara Building shares debut on stock market, gain 38% on listing
Shares of Shankara Building Products Ltd (SBPL) on Wednesday closed up 37.57% at Rs632.80 on debut, following subscription of 41.6 times for the initial public offering (IPO) of Rs350 crore last week.
Mahindra targets to start electric bus sales in India next year
Mahindra & Mahindra Ltd, which acquired an Indian electric car maker seven years ago, is targeting to start selling electric buses next year in Asia’s third-biggest economy as the government looks to cut the country’s dependence on fossil fuels.