Opening bell: Asian markets open mixed; pharma companies, SBI, SpiceJet in news
SBI seeks to act tough on Videocon Industries, while Max Life emerges as front runner to buy IDBI Federal Life
US stocks end higher; Asian markets open on a mixed note
US stocks posted a three-day winning streak on Tuesday as the major averages continued to recover from the correction levels reached last week.
Asian markets traded mixed early on Wednesday despite the slightly firmer lead from Wall Street, which recorded a third consecutive day of gains in the last session.
RBI withdraws SDR, S4A, sets banks 180-day timeline for bad loan resolution
The Reserve Bank of India (RBI) tightened norms for bad loan resolution by setting timelines for resolving large NPAs, failing which banks will have to mandatory refer them for insolvency proceedings.
Govt may cap trade margins to control drug prices
The government is planning to cap how much drug retailers and wholesalers can earn on medicines they sell in an effort to arrest rising drug prices.
SBI seeks to act tough on Videocon Industries
State Bank of India (SBI) is seeking direction from the Insolvency and Bankruptcy Board of India (IBBI) on whether it needs to file separate insolvency cases against affiliates of Videocon Industries Ltd, given that they are jointly liable for loan repayments.
DLF Q3 profit rises 42-fold to Rs4,111.95 crore
DLF Ltd, India’s largest property developer, said fiscal third quarter profit rose 42-fold to Rs4,111.95 crore due to a one-time gain.
Max Life emerges as front runner to buy IDBI Federal Life
Max Life Insurance Co. Ltd has emerged as the leading candidate to buy out or pick up a majority stake in IDBI Federal Life Insurance Co. Ltd.
Sebi passes interim order in Ricoh India accounting fraud case
The Securities and Exchange Board of India (Sebi) has passed an interim order in the case of fund diversion and falsifying books of Ricoh India Ltd.
Delhi HC upholds DIAL order on Indigo, SpiceJet shifting operations from IGI airport’s T-1 to T-2
The Delhi high court upheld its single judge order accepting Delhi International Airport Ltd’s (DIAL) decision to partially shift Indigo and SpiceJet operations from Indira Gandhi International Airport’s Terminal-1 (T-1) to Terminal-2 (T-2).
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