Opening bell: Asian markets open mixed; carmakers, Bank of Baroda in focus
US stocks close higher, Asian markets open mixed
GST council meet: consensus builds for 1 July rollout
The goods and services tax (GST) Council on Thursday backed the 1 July deadline for rolling out the unified indirect tax that will help create a single national market, and ensured that items of mass consumption bear the least tax burden.
GST rate structure: cars in top 28% tax bracket
Foodgrains and common-use products will cost less from 1 July when the GST is scheduled to be rolled out. While the Council fitted all but six items in 5, 12, 18 or 28% tax brackets, cars will attract the top rate as also a cess in the range on top of it.
Bankers to take over Jaypee’s land bank to recover loans
Lenders to Jaiprakash Associates Ltd have decided to take control of the company’s land bank to recover their loans, reports Business Standard. According to the report, the land bank will be liquidated at a later date.
Indraprastha Gas plans to buy out JV partners
Indraprastha Gas Ltd (IGL) is looking to buy out its partners in two joint ventures, reports Bloomberg. According to the report, IGL, which owns 50% in Central UP Gas Ltd and Maharashtra Natural Gas Ltd, plans to wholly own both the joint ventures.
JM Financial planning to start affordable housing finance unit
Financial services company JM Financial Ltd will start an affordable mortgage lender and a property brokerage, extending its real estate lending business, reports Mint.
Bank of Baroda reports Rs155 crore profit on declining bad loans
Bank of Baroda Ltd (BoB) reported a profit of Rs154.72 crore for the March quarter as provisions for bad loans fell, reports PTI.
Grasim Industries earnings today
Grasim Industries Ltd, Mahindra Holidays & Resorts India Ltd, Just Dial Ltd, KEC International Ltd, Suzlon Energy Ltd, Tata Power Co. Ltd and Sintex Industries Ltd are some of the companies that will release their March quarter earnings on Friday.