Opening bell: Asian markets little changed; Coal India, IT industry in news
Asian stocks little changed in morning trade
Asian markets outside Japan are little changed in opening trade, though the benchmark indices are close to record highs, reports Reuters. Overnight, the US markets closed with gains. S&P 500 at 2,751 points is up 0.13%.
H-1B visa: US says no change in extension policy
In a relief for Indian tech workers, US authorities on Tuesday said that the Trump administration is not considering any proposal that would force H-1B visa holders to leave the country, reports PTI.
Direct tax collections rise 18.2% in April-December
Direct tax collections grew by more than 18% in the first nine months of the fiscal year to two-thirds of the full-year target, providing a breather to the government as it struggles to contain the fiscal deficit.
Telecom Commission favours raising spectrum holding limit
The Telecom Commission has accepted recommendations by the industry regulator to ease current spectrum holding caps, smoothening the way for consolidation triggered by Reliance Jio Infocomm Ltd’s September 2016 launch, reports Mint.
Infosys signs agreement with US IRS, sees lower tax rate
Infosys Ltd on Tuesday said it has signed an agreement with the US Internal Revenue Service (IRS), resulting in an effective tax rate of about 100 basis points lower going forward, reports Reuters.
IDFC Bank, Capital First explore merger
After calling off its merger plans with Shriram Group, IDFC Bank Ltd is said to be in exploratory talks to acquire Capital First, a non-banking finance company, reports The Economic Times.
Institutional investors drive NMDC share sale
Institutional investors have put in bids for over 6.36 crore shares amounting to Rs976 crore in the NMDC Ltd offer-for-sale, reports The Hindu Business Line. Based on the response, the government has now decided to increase the issue size under the green-shoe option, the report adds.
Coal India to charge customers on energy content in coal
Coal India Ltd has decided to shift to a pricing system under which customers would be billed on the basis of exact energy content per kilogram of coal in every consignment that is sold to them, reports The Economic Times.