Opening bell: Asian stocks steady; Laurus Labs IPO to list today
In other news, Steel prices are set to rise in January with the sharp increase in coking coal price and other operational costs
Asian markets little changed
Asian markets outside Japan are little changed in morning trade. Over the weekend, the US markets closed slightly lower. S&P 500 at 2,258 points is down 0.18%.
Demonetisation impact: PSU bank shares outperform private peers
Shares of most state-owned banks have rallied since demonetisation on the back of swelling deposits and falling treasury yields, and are surprisingly turning out to be better performers than their private sector counterparts, reports Mint.
Steel prices set to rise in January
Steel prices are set to rise in January with the sharp increase in coking coal price and other operational costs, reports The Hindu Business Line. Incidentally, the global steel prices are also set to increase, the report adds.
Adani group eyes investments in new sectors
Adani group chairman Gautam Adani brushed aside concerns about the group’s indebtedness and said it was looking at investment opportunities in sectors such as defence, coal conversions and water, reports Mint.
Laurus Labs set for stock trading debut today
Drugmaker Laurus Labs, which raised about Rs1,332 crore through its initial public offer (IPO), will make its debut on the stock exchanges on Monday.
Railways plans separate agency for fare changes
The railway ministry will soon seek Cabinet approval for setting up an independent agency to recommend passenger and freight fares, a move that could depoliticise fare revisions, reports The Economic Times.
India may offer China tariff removal on over 70% goods
India plans to offer tariff elimination on more than 70% traded goods with China over an extended period of time under the ongoing negotiations for a Regional Comprehensive Economic Partnership agreement, reports Mint.
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