Opening Bell | Asian markets open lower; Jet Airways, banking stocks in news
In other news, Kotak PE sells 5.73% stake in Minda Corp for Rs120 crore
Asia tracks US market losses
The US markets closed lower. S&P 500 at 2,146 points is down 0.86%. Tracking the cues, Asian markets opened with losses.
RBI approach to bad loans likely to change
The change of guard in the Reserve Bank of India (RBI) may change the way the regulator tackles the bad loan problem at Indian banks—not in terms of going soft on recalcitrant borrowers, but giving more flexibility to banks, reports Mint.
Projects worth Rs150 crore and above face cost overruns
A State Bank of India Ltd study of 1,076 projects, worth at least Rs150 crore each, shows that they face a cost overrun of 12.5%. A third of the projects have been delayed.
Power tariffs for industry rise
Power tariffs paid by industry have increased across states owing to the levy of high cross-subsidy charges to subsidise lower-paying consumers, reports Business Standard.
Infosys halts payments to former CFO Bansal
Infosys Ltd has stopped the remaining instalments of the severance payment of Rs17.38 crore promised to former chief financial officer Rajiv Bansal after some of the company’s founders expressed their unhappiness with the decision, reports Mint.
Piramal’s SFG plans aggressive expansion
Piramal Enterprises Ltd’s Structured Finance Group, the non-real estate lending business, plans to provide customized lending solutions to companies across sectors and double its team as it seeks to expand its business aggressively, reports Mint.
Kotak PE sells 5.73% stake in Minda Corp
Kotak Private Equity group offloaded 5.73% stake in auto component maker Minda Corporation for an estimated Rs120 crore through open market transactions.
Zee Group may acquire stake in TV9
Zee group is likely to buy majority stake in Hyderabad-based media firm Associated Broadcasting Co. Pvt. Ltd, which owns regional news channels under the brand name TV 9, reports Business Standard.
Jet plans joint venture with Air France-KLM
Jet Airways (India) Ltd is negotiating a joint venture with Air France-KLM to expand its commercial co-operation with the European airline network, reports Business Standard.
Government sacks Bank of Maharashtra’s MD
The Centre on Monday sacked Sushil Muhnot, chairman and managing director of Bank of Maharashtra Ltd, four days short of his scheduled retirement, and appointed Ravindra Marathe as new chief, reports The Hindu.
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!