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Business News/ Market / Stock-market-news/  Opening bell: Asian markets open higher; SBI, Hero Moto, Hathway Cable in news
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Opening bell: Asian markets open higher; SBI, Hero Moto, Hathway Cable in news

In other news, demonetisation takes toll on investment, manufacturing

Photo: MintPremium
Photo: Mint

US markets remain shut for New Year holiday; Asia opens higher

In the US, markets were shut for New Year holidays on Monday, but the Dow Jones industrial average last closed at 19,762.6, while the S&P 500 finished at 2,238.83 and the Nasdaq ended at 5,383.12.

Meanwhile, Asian markets gained on Tuesday after a strong finish to 2016. New Zealand, Japan and Thailand markets will be shut for public holidays.

Demonetisation takes toll on investment, manufacturing

There has been a sharp fall in new investment proposals since 9 November—the day the government’s decision to invalidate high-value currency notes came into effect. This sombre prognosis is reaffirmed by the Nikkei Markit India Manufacturing Purchasing Managers’ Index (PMI) which, for the first time in 2016, shows manufacturing contracting in December.

Core sector grows 4.9% in November

The growth rate of eight infrastructure sectors—coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity—was 0.6% in November 2015. It stood at 6.6% in October 2016.

Hero MotoCorp sales down 33.91% in December

Hero MotoCorp Ltd (HMCL) reported 33.91% dip in its total sales in December 2016 at 3,30,202 units as against 4,99,665 units in the same month previous year. Read more.

SBI may push merger of five associate banks, BMB to next fiscal

State Bank of India (SBI) chairperson Arundhati Bhattacharya hinted that the mega merger of its five associate banks and Bharatiya Mahila Bank (BMB) could be pushed to the next financial year as it is still awaiting the government notification on the move.

Hathway Cable unit GTPL Hathway files papers for Rs300 crore IPO

Cable TV and broadband Internet services provider Hathway Cable & Datacom Ltd said its subsidiary GTPL Hathway Pvt. Ltd has filed its initial public offering (IPO) prospectus with the capital market regulator, in an intimation to stock exchanges. Read more.

HPCL to invest Rs1,200 crore in city gas distribution business

State-run Hindustan Petroleum Corp. Ltd (HPCL) plans to invest Rs1,200 crore in city gas distribution (CGD) to expand network and build infrastructure, a company official said.

Exide to invest Rs300 crore to expand capacity in West Bengal

Exide Industries Ltd will invest Rs300 crore to expand its capacity for advanced motorcycle batteries over a period of 18 months starting April. Read more.

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Published: 03 Jan 2017, 07:50 AM IST
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