Opening bell | Asian markets open lower; Tata Steel in news
In other news, a 'Mint' survey said RBI may cut policy rates by 25 basis points to boost growth
Asian markets open lower
Asian markets opened lower. Stocks fell in morning trade as Euro slipped on Italian referendum on constitutional reform. Over the weekend, the US stocks closed flat. S&P 500 at 2,191 points was slightly up 0.04%.
RBI seen cutting rates in bid to spur growth
The Reserve Bank of India (RBI) may cut interest rates by 25 basis points on Wednesday to boost growth as the government’s unexpected withdrawal of high-value banknotes is likely to hurt consumption, according to a Mint survey.
Prospects of GST passage dim
The prospects of supporting legislation for the goods and services tax (GST) being voted through Parliament hangs by a thread with three major non-NDA-ruled states delaying a consensus in the recently concluded meeting of the GST council, reports Mint.
Tata Steel may keep UK plant open till 2020
Tata Steel Ltd is reportedly edging closer to a deal with UK steel workers’ unions to keep its troubled Port Talbot plant open until at least 2020, reports PTI.
IDFC Alternatives targets majority stake in GTL Infrastructure
IDFC Alternatives, the private equity arm of IDFC Ltd, is keen to acquire a controlling stake in GTL Infrastructure Ltd from the lenders of the debt-laden telecom tower operator. Read more.
Peninsula Land to sell 150 acres land to reduce debt
Property developer Peninsula Land Ltd plans to sell 150 acres of land in three cities to raise Rs800 crore, reports Mint. The company plans to use most of the sale proceeds to lower its debt.
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