Opening bell: Asian markets open higher; Infosys, Indian Oil in news
In other news, RBI keeps repo rate unchanged at 6%, maintains neutral policy stance
US stocks end mixed; Asian equities open higher
Major US indexes closed narrowly mixed as investors awaited tax reform developments.
Asian markets edged up early on Thursday after recording steep losses in the Wednesday session, which saw the Hang Seng Index and Nikkei 225 falling around 2%.
RBI keeps repo rate unchanged at 6%, maintains neutral policy stance
The Reserve Bank of India’s (RBI) monetary policy committee (MPC) on Wednesday kept the key interest rate unchanged as it feared that inflation may top the central bank’s medium-term target of 4%.
Infosys files consent plea with Sebi on Rajiv Bansal’s severance pay
Infosys Ltd has filed a consent plea with capital markets regulator Securities and Exchange Board of India (Sebi), regarding an ongoing probe by the regulator related to the company’s decision to give a generous severance payment to its former chief financial officer (CFO) Rajiv Bansal, a move that had drawn the ire of some proxy advisory companies as well as experts.
Indian Oil prepares for shift to a less carbon-intensive future
The country’s largest refiner Indian Oil Corp. Ltd is making a strategic shift to a less carbon-intensive future by getting into clean energy and related infrastructure, while keeping refinery expansion plans flexible for course correction, said chairman Sanjiv Singh in an interview.
Airtel, Intex team up to offer bundled 4G smartphones
Bharti Airtel Ltd has tied up with device maker Intex Technologies to launch a range of 4G smartphones, starting at an “effective price” of Rs1,649 and bundled with a monthly pack of Rs169 from Airtel, offering data and calling benefits, the telecom operator said in a statement on Wednesday.
Nestle to buy supplements maker Atrium for $2.3 billion
Nestle SA chief executive officer Mark Schneider made his biggest acquisition yet, agreeing to buy Canadian dietary supplements maker Atrium Innovations for $2.3 billion in a bid for growth beyond stagnating mainstream food brands.
Future Supply Chain IPO sees 32% subscription on Day 1
The Rs650-crore initial public offering (IPO) of Future Supply Chain Solutions Ltd, the logistics arm of the Kishore Biyani-led Future Group, witnessed an overall subscription of 32% on Wednesday, the first day of the share sale.
Shalby IPO sees 46% subscription on Day 2
The Rs500-crore initial public offering (IPO) of Shalby Ltd, which runs a multi-speciality hospital chain, was subscribed 46% on Wednesday—the second day of the share sale.