Opening bell: Asian markets open mixed; L&T, Arvind in news
In other news, the government has allowed farmers to buy seeds for rabi crop with old currency notes
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US market ends higher; Asia opens mixed
US equities closed higher on Monday, led by energy stocks, as oil prices rose on renewed optimism that OPEC was closing in on a deal to cut production.
Asian markets open mixed. Japanese shares were lower in early trade on Tuesday as investors assessed the damage from an earthquake in the sea off northern Japan in the early hours of Tuesday.
Loan relief from RBI after cash purge
The central bank gave lenders an additional 60 days’ time to reclassify a loan in default as bad on their books and start setting aside money to cover it. This is over and above the 90-day period, according to existing guidelines.
Cyrus Mistry’s conduct harmed TCS and group: Tata Sons
Cyrus Mistry made certain unsubstantiated allegations, which cast aspersions on Tata Sons Ltd and its board and “the Tata group as a whole”, Tata Sons said in an explanatory statement to its notice calling a meeting of shareholders in Tata Consultancy Services Ltd (TCS).
Farmers allowed to buy seeds for rabi crop with old currency notes
Providing further reprieve to farmers, the government allowed farmers to purchase seeds for their current rabi crop with old denomination notes, as part of the steps to ease the impact of partial demonetisation on the rural sector.
Domestic air traffic grows 23% in October
India’s domestic air traffic grew 23.2% in October, continuing its over two-year run of double-digit growth on the back of cheap fares and rising connectivity.
Arvind raises Rs740 crore via stake sale in fashion unit
Textiles and branded apparel major Arvind Ltd has raised Rs740 crore by diluting stake in subsidiary Arvind Fashions Ltd. The company has completed the transaction and raised the amount from Multiples, a private equity firm.
BSE adopts mechanism for rumour detection about listed firms
To deepen its regulatory oversight of newer channels of communication in the capital markets, the BSE on Monday said it has introduced a data analytics-based systemic solution to track news about listed companies on digital media. Read more.
Allcargo Logistics and Larsen & Toubro are among the companies that will announce September quarter earnings on Tuesday.