Opening bell: Asian markets open lower; Dalmia Bharat, BPCL, IDBI Bank in news
In other news, IndusInd Bank ties up with Ripple to aid global payments
US stocks end lower; Asian markets open on a negative note
US stocks fell for the first time in four days Tuesday after comments from new Federal Reserve Chair Jerome Powell sent rates higher.
Asian markets edged down early on Wednesday after US stocks slid, following a congressional testimony from the US Federal Reserve’s new chief.
PNB effect: FinMin orders PSU banks to review NPAs to check fraud
The finance ministry directed public sector banks to examine all bad loan accounts exceeding Rs50 crore for possible fraud, a fallout of the multi-billion dollar scam at Punjab National Bank (PNB) that went undetected for seven years.
Firms line up IPOs worth Rs12,000 crore in March
After a dull start to the year, activity in the initial public offering (IPO) market in India is expected to pick up pace with companies expected to raise more than Rs12,000 crore in the month of March.
Dalmia Bharat pips UltraTech to win bid for Binani Cement
Dalmia Bharat Cement Ltd on Tuesday emerged the winner for troubled Binani Cement Ltd, beating India’s largest cement maker UltraTech Cement Ltd which had put in a nearly identical bid.
BPCL may sell up to 24% in Bina Refinery in Madhya Pradesh
National oil companies of Oman, Kuwait and Abu Dhabi are in talks to buy up to 24% stake in Madhya Pradesh’s Bina refinery, reports Mint.
Moody’s upgrades IDBI Bank outlook to positive on recapitalisation plan
Moody’s Investors Service affirmed the long-term local and foreign currency bank deposit rating of IDBI Bank Ltd at B1 and changed the outlook to positive from stable.
IndusInd Bank ties up with Ripple to aid global payments
Private sector IndusInd Bank has tied up with blockchain solution provider Ripple to enhance global payment transactions in and out of India.
TCNS Clothing files draft papers for IPO
Women’s branded apparel maker TCNS Clothing has filed draft papers for an initial public offer, wherein existing shareholders plan to sell more than 1.57 crore shares.