Opening bell: Air fares rise up to 65% as holiday season demand peaks1 min read . Updated: 27 Dec 2016, 08:10 AM IST
In other news, short-term capital gains tax rate may rise in Union budget
Asian markets little changed in thin trade
Asian markets are little changed in the morning trade. With most markets closed on Monday trading is thin, reports Reuters.
Short-term capital gains tax rate may rise in budget
The government is mulling a hike in the short-term capital gains tax rate, and also a higher levy on dividends earned by individuals, reports Business Standard.
Railways may see highest plan outlay next fiscal
Indian Railways is likely to have its highest plan outlay of around ₹ 1.35 lakh crore for the next financial year, reports The Economic Times. According to the report, railways plans to seek ₹ 60,000 crore from finance ministry as gross budgetary support.
NBFCs seek more time to classify defaults as NPAs
Non-banking finance companies (NBFCs) have asked the Reserve Bank of India (RBI) for more time to classify defaults as non-performing loans, following the government’s decision to scrap high-value banknotes, reports Mint.
Air fares rise on holiday season demand
Last-minute domestic flight ticket prices are up 65% on a year-on-year basis on strong travel demand during the Christmas-New Year week, reports Business Standard.
Drug firms eye over-the-counter market
A fast growing market for wellness products is luring traditional drug makers in India. Some of India’s largest drug makers are creating a portfolio of over-the-counter (OTC) products, reports Mint.
Major two-wheeler firms shut plants for maintenance
Hero MotoCorp Ltd, Honda Motorcycle and Scooter India, Bajaj Auto Ltd and TVS Motor Co Ltd will keep their plants shut for up to 10 days for annual maintenance, even as demand remains subdued, reports Business Standard.
Two-wheeler sales may crash to their lowest in six years in December due to demonetization, reports The Economic Times.
Idea Cellular sees biggest cut in earnings estimate
Among Nifty 50 stocks, the largest consensus earnings estimate cut for financial year 2017 over the past month was recorded by Idea Cellular Ltd. That was followed by Coal India Ltd, Tata Motors Ltd, UltraTech Cement Ltd and Ambuja Cements Ltd. Read more
M&M turns around SsangYong
M&M Ltd has brought its South Korean subsidiary, SsangYong, on the road to financial turnaround, reports Business Standard. According to the report, SsangYong reported a net profit of 23 billion South Korean won (Rs128 crore) in nine months to September.