BackOpening Bell | Asian markets open lower; Infosys, telecom stocks in news
In other news, ICICI Prudential Life's IPO draws 16% bids on Day 1
Premium
US markets end flat; Asia opens lower
US equities closed mostly flat on Monday after a choppy session, as investors geared up for two key central bank meetings. The Dow Jones industrial average fell 0.02% to close at 18,120.17 points. The S&P 500 fell less than a point and the Nasdaq fell 0.18% to end at 5,235.03 points.
Asian markets opened slightly lower on Tuesday, tracking a flat finish. Stocks in Japan re-opened mixed after being closed on Monday for a public holiday. The main Nikkei 225 index was lower by 0.35%
GST: Centre has not lost power to levy excise duty and service tax
Ending days of confusion, the government has clarified that the notification of the provisions of the Constitution amendment Act for the goods and services tax (GST) does not take away the power of the Central government to levy excise duty and service tax. Read more.
NSE IPO values it at Rs45,000 crore
Bankers for National Stock Exchange of India Ltd (NSE) are asking investors to sell a part of their holding in the bourse’s proposed initial share sale at a price that values it at Rs45,000 crore, reports Mint.
Another top-deck exit at Infosys: Sanjay Purohit quits
The exodus at Infosys Ltd continues with its executive vice-president and global head of consulting Sanjay Purohit being the latest to quit the company. Infosys largely blamed execution problems in its consulting business for missing revenue targets last quarter, reports CNBC-TV18.
Govt starts process to hire next Sebi chairman
The finance ministry has invited applications for the post of chairman of the capital and commodities market regulator Securities and Exchange Board of India (Sebi). The tenure of current chairman U.K. Sinha ends on 1 March 2017.
Indian banks moving past asset quality problems, outlook stable: Moody’s
International rating agency Moody’s Investor Service said that it saw the asset quality cycle bottoming out in Indian banks, indicating a stable outlook for the sector. Read more.
ICICI Prudential Life’s IPO draws 16% bids on Day 1
The initial public offering (IPO) of ICICI Prudential Life Insurance Co. Ltd was subscribed 15.78% on Monday, the first of the three-day offering.Through the public issue, which will close on Wednesday, parent company ICICI Bank Ltd is looking to trim 12.63% stake and raise about Rs.6,056 crore.
Domestic air traffic up 24% in August
Domestic airlines flew 8.3 million passengers in August posting nearly 24% growth over year, according to data released by the Directorate General of Civil Aviation. Last August, carriers had flown 6.7 million passengers.
Telcos deposit Rs14,653 crore for spectrum auction
Leading telecom operators have deposited Rs14,653 crore as earnest money for the country’s largest-ever spectrum auction from 1 October, with Reliance Jio alone submitting Rs6,500 crore. Read more.
Jubilant FoodWorks CEO Ajay Kaul resigns
Jubilant FoodWorks said its CEO and whole-time director Ajay Kaul will resign to pursue opportunities outside the company. Jubilant FoodWorks, which operates Domino’s Pizza and Dunkin’ Donuts outlets in India, said it has initiated the process of identifying his successor.
Glenmark, Particle Sciences ink deal to develop generic cancer drug Abraxane
Glenmark Pharmaceuticals Ltd has entered into an agreement with US-based Particle Sciences Inc. to develop and market a generic version of Celgene Corp.’s Abraxane, used in the treatment of breast and pancreatic cancers.
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!
