US markets little changed, Asia opens weak

US markets closed little changed. S&P 500 at 1,989 was marginally up 0.02%. Asian markets also opened weak. According to Bloomberg, the European Central Bank’s monetary stimulus was neutered by damping outlook for further interest-rate cuts.

Cement firms to gain from changes to MMDR Act

The government cleared a proposal to amend the mines and minerals law to allow the transfer of captive mines granted through non-auction routes, a move likely to spur mergers and acquisitions in the cement industry, reports Mint.

Crisil downgrades eight public sector banks

Crisil Ltd downgraded its ratings on securities of eight public sector banks and changed the outlook on instruments of five other lenders to negative. Read more.

Siam cuts passenger vehicles growth forecast

The Society of Indian Automobile Manufacturers (Siam) cut the growth forecast for passenger vehicles sales for the ongoing and next financial year, reports Mint.

Reliance Industries to pay 3,401 crore in interim dividends

Reliance Industries Ltd (RIL) said it will pay a total of 3,140 crore in interim dividend to shareholders. The payout will be 10.5 per share.

USL to fast track property sale

United Spirits Ltd hastened the process of selling 13 residential properties and mandated a banker to re-evaluate these assets, reports The Economic Times.

Ashok Leyland plans to wrap up 23 of 27 joint ventures

Ashok Leyland Ltd is planning to wrap up 23 of its 27 joint ventures in a bid to cut its debt and focus on core businesses, reports Mint.

Jindal Steel to form JVs in steel, sell power assets

Struggling Jindal Steel and Power Ltd will try to sell stakes in certain units of its steel business, set up joint ventures with companies in Asia and Europe and seek a buyer for its power assets in India, in an effort to pare debt, reports Mint. In another report, the company is in the process of rescheduling its debt with foreign lenders.

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