Opening bell: Asia opens mixed; RBI policy meeting in focus
RBI’s monetary policy committee is likely to keep policy rates unchanged, but may raise them at its next meeting in August, says economists
US stocks end higher Asian markets see a mixed opening
The Nasdaq Composite index rose to an all-time high on Tuesday, led by Netflix and Amazon, while the rest of the market struggled for gains amid US trade tensions.
Asian stocks took a breather on Wednesday, with markets in Japan and Australia trading narrowly mixed as investors digested trade-related developments and the mixed close on Wall Street.
RBI rate hike seen unlikely in 6 June monetary policy meeting
The Reserve Bank of India’s (RBI) monetary policy committee (MPC) is likely to keep policy rates unchanged on Wednesday, but may raise them at its next meeting in August, say economists surveyed y Mint.
Hindustan Copper aims for ₹2,000 crore turnover
State-owned miner Hindustan Copper Ltd was looking to ramp up its smelting capacity to 100,000 tonnes per annum from the existing 70,000 tonnes, besides targeting a turnover of Rs2,000 crore by the end of this fiscal year.
Kia ties up with Hyundai to drive into India
Kia Motors, a subsidiary of South Korean car maker Hyundai Motor Co., is gearing up to enter the Indian market, but as a competitor to Hyundai Motor India Ltd.
Orient Cement plans to invest Rs3,600 crore to expand capacity over next 5 years
After jettisoning the deal to buy 2 cement units from the distressed Jaypee group, CK Birla group company Orient Cement plans to invest Rs3,600 crore over the next 5 years to expand its existing cement-making capacity to 15 million tonnes per annum (mtpa) from the current 8mtpa.
Patanjali, Godrej Agrovet in talks to tie up for Ruchi Soya bid
Baba Ramdev’s Patanjali Ayurved Ltd, which has put in a bid for Ruchi Soya Industries Ltd, is in talks with Godrej Agrovet Ltd for a potential tie-up for the bid, reports Mint.
Manpasand Beverages comes under Sebi, MCA scrutiny
The corporate affairs ministry and the markets regulator have begun separate investigations into alleged non-disclosures and possible accounting lapses at Manpasand Beverages Ltd.
Bharat Financial gets bourses’ nod for merger with IndusInd Bank
Micro-lender Bharat Financial Inclusion Ltd (BFIL) said that it has received no-objection nod from stock exchanges for its merger with private sector lender IndusInd Bank.
Discom losses plunged to Rs17,352 crore in FY18, says power minister
State-owned electricity distribution companies (discoms) have witnessed a substantial drop in their losses, power minister Raj Kumar Singh said on Tuesday. Discom’s losses have narrowed to Rs17,352 crore in 2017-18 from Rs51,096 crore in FY16.
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