Opening bell: Asian markets open higher; Idea, Jaypee Group in news
US stocks end higher; Asia opens positive
The Dow Jones industrial average broke above 25,000 for the first time on Thursday, tying the fastest 1,000-point move in its history, following the release of stronger-than-expected jobs data.
Asian markets tracked stateside gains on Friday after the Dow Jones industrial average hit a major milestone. Markets in the region had traded at or around multi-year highs in the prior session
Idea unveils $1.1 billion fundraising plan ahead of Vodafone merger deal
Promoters of Idea Cellular Ltd will invest Rs3,250 crore and the company plans to raise a similar amount to strengthen its balance sheet amid intense competition and before a planned merger with Vodafone India Ltd.
Govt seeks Parliament nod for Rs80,000 crore recap bonds
The government sought Parliament’s nod for an additional spending of Rs80,000 crore for capitalizing state-run banks through issue of government securities.
Infosys CEO Salil Parekh to be paid up to Rs17.3 crore in first year
Infosys Ltd’s new chief executive officer (CEO) Salil Parekh has been given a Rs9.75 crore joining bonus and could earn up to Rs17.3 crore in the first year. Read more
RBI puts Allahabad Bank under prompt corrective action
Allahabad Bank said the Reserve Bank of India (RBI) has initiated “prompt corrective action” against the state-run lender over its high bad loans.
Services sector growth improves in December: PMI
The Indian services sector returned to marginal growth in December as new orders broadly stabilised, according to a monthly survey.
Jaypee Group aims to complete 24,000 flats by 2020 at Rs8,000 crore cost
Debt-ridden Jaypee Group is targeting to complete the construction of pending 24,000 flats in Noida by 2020 at a cost of about Rs8,000 crore and deliver it to home buyers.