Opening bell: Asian markets open mixed; HDFC Bank, Hotel Leela in news
Asian markets tentative in morning trade
Asian markets opened mixed. Stocks remained tentative as investors awaited further developments on the North Korea front, reports Bloomberg. US markets were closed on Monday for a holiday.
Brokerages pare FY18 GDP outlook on slow Q1 growth
Rating agencies and brokerages are paring their GDP (gross domestic product) growth estimates for 2017-18 to below or around 7% after India’s economic growth unexpectedly slowed in the fiscal first quarter. Read more
RBI includes HDFC Bank in ‘too big to fail’ lenders’ list
HDFC Bank Ltd has been declared a domestic-systemically important bank (D-SIB), the Reserve Bank of India (RBI) said, reports Mint. With this, the bank has joined State Bank of India and ICICI Bank Ltd, which have been tagged as D-SIBs, or “too-big-to-fail” for the third consecutive year, the report adds.
Marigold Capital may buy Leela Palace Chennai
Private equity fund Marigold Capital and Investments has agreed to buy Hotel Leela Venture Ltd’s 326-room hotel in Chennai, reports The Economic Times.
Thomas Cook in race to acquire IFCI’s 26.09% stake in Tourism Finance Corp
Thomas Cook (India) Ltd is among several companies interested in buying state-owned lender IFCI Ltd’s 26.09% stake in Tourism Finance Corp. of India Ltd, reports Mint.
Tata Motors CTO Tim Leverton resigns
Timothy Leverton, president and chief technical officer (CTO) of Tata Motors Ltd, has resigned. Leverton, who was working out of the Tata Motors Engineering Research Centre in Pune, resigned citing personal reasons, the company said.
TVS Motor arm in tie-up for real estate fund
TVS Emerald, the real estate arm of TVS Motor Co. Ltd, and ASK Property Investment Advisors, the real estate private equity manager of ASK Group, have partnered to set up a Rs400 crore real estate investment platform, reports Business Standard.
Supreme Court stays insolvency case against Jaypee Infratech
The Supreme Court has stayed an order passed in August by the Allahabad bench of the National Company Law Tribunal which initiated insolvency proceedings against Jaypee Infratech Ltd. Read more