Opening bell: Asian markets open lower; SBI, Tata Motors in news
In other news, retail inflation picked up for the first time in seven months to 3.65% in February from 3.17% a month ago as food inflation reversed its downward trend
US equities end lower; Asian markets follow suit
US stocks closed slightly lower on Tuesday, ahead of a likely interest rate hike, as energy stocks fell.
Asian equities were in the red on Wednesday morning, following losses in US stocks as traders awaited a rates decision from the US Federal Reserve.
Nifty scales 9,000, Sensex rises 496 points on BJP’s victory in UP elections
National Stock Exchange’s Nifty index closed at a record high while BSE’s Sensex closed at a two-year high on Tuesday as investors cheered the Bharatiya Janata Party’s (BJP) landslide victory in Uttar Pradesh.
Tata Motors to offer VRS to employees to trim costs as part of restructuring
Tata Motors will offer voluntary retirement scheme to trim costs as part of restructuring, although the number of employees is still being worked out.
SBI announces Rs6,000 crore tractor loan settlement scheme
State Bank of India (SBI) would allow one-time settlements for tractor and farm equipment loans that make up about Rs6,000 crore of doubtful and loss cases on its books.
Retail inflation picks up in February to 3.65%, first rise in 7 months
Retail inflation picked up for the first time in seven months to 3.65% in February from 3.17% a month ago as food inflation reversed its downward trend, confirming the apprehension expressed by the central bank on the longevity of the softening of price increases.
Gitanjali Gems’s Nakshatra files draft papers for IPO
Gitanjali Gems’ arm Nakshatra World Ltd has filed draft papers with capital markets regulator Securities and Exchange Board of India to float an initial public offering. Read more
IndusInd Bank to buy IL&FS Securities Services
Private sector lender IndusInd Bank will buy IL&FS Securities Services Ltd, a subsidiary of Infrastructure Leasing and Financial Services (IL&FS) Ltd, in an all-cash deal.
Sun Pharma says US FDA to lift import alert on Mohali drug plant
India’s largest drug maker Sun Pharmaceutical Industries Ltd said the US Food and Drug Administration (FDA) has decided to lift an import alert on its manufacturing plant at Mohali in Punjab.
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