Opening bell: Asian markets open higher; ITC, SBI, Bandhan Bank in news
Asian markets open higher on the first trading day of the year
Asian indices were slightly firmer in early trade for the first trading session of the New Year as markets shrugged off the softer lead from Wall Street. Major US indices recorded substantial gains for the year.
Sebi plan on loan defaults runs into RBI hurdle
A Securities and Exchange Board of India (Sebi) proposal to make listed firms disclose defaults on their loans within a day of it happening is stuck in a turf war between the central bank and the markets regulator.
ITC, JK Paper among potential suitors for Sirpur Paper Mills
Telangana-based Sirpur Paper Mills Ltd, which is in the middle of insolvency proceedings at the Hyderabad bench of the National Company Law Tribunal (NCLT), has received initial expressions of interest from several potential suitors, including ITC Group, JK Paper Ltd, West Coast Paper Mills Ltd and Kolkata-based Kohinoor Group, reports Mint.
Bandhan Bank files DRHP, eyes IPO launch in March or April
Bandhan Bank Ltd, one of the two entities to receive a universal banking licence in 2015 and the only microfinance institution to do so, on Monday filed its draft initial public offering (IPO) prospectus.
SBI cuts base rate by 30 basis points
Loans to existing borrowers are set to get a little cheaper with the State Bank of India (SBI) reducing its base rate by 30 basis points, a move that is likely to be followed by other banks.
Maruti sees strong sales growth in December
India’s largest car maker Maruti Suzuki India Ltd continued to witness strong sales growth in December even as its nearest rival Hyundai Motor India Ltd posted flat sales numbers for the month. Sales at Maruti grew 12.1% in December to 119,286 units.
Brigade Enterprises buys Bengaluru land for Rs218 crore from SAB Miller
Realty firm Brigade Enterprises Ltd has bought a 12.95-acre land parcel in north Bengaluru’s Yeshwantpur area for Rs218 crore from SAB Miller India Pvt. Ltd, reports Mint.
IndusInd Bank raises $500 million from overseas lenders
IndusInd Bank has raised $500 million (about Rs3,193.75 crore) term loan from overseas lending bodies to expand its business.