US market closes higher; Asian markets open mixed
US stocks closed higher on Monday in low volume trade as traders bought some recently less-favoured sectors. Asian shares had a mixed opening on Tuesday as investors await Bank of Japan’s monetary policy decision.
Cyrus Mistry cedes space to take moral high ground
Cyrus Mistry sought to take the high moral ground in his fight with the Tata group by stepping down from the boards of operating companies ahead of shareholder meetings called to remove him, citing the pressure on stakeholders to take sides, and the consequent uncertainty this has created.
Cash deposit of old notes gets tougher as government brings in new rules
The government on Monday put fresh restrictions on deposits of old Rs500 and Rs1,000 notes, announcing such deposits in excess of Rs5,000 will be accepted only once by 30 December, that too after the depositor satisfactorily explains the reason behind the delay in depositing the money.
New realty law set to raise developers’ funding needs, may encourage equity capital
The new real estate law, which is currently being notified by various states, may pave the way for institutional equity investments in real estate projects. Read more.
Glenmark banks on specialty, innovative drugs for next leg of growth
Glenmark Pharmaceuticals Ltd is relying on its specialty and innovative drugs pipeline to play out in the coming years and expects to launch specialty products in the US by 2020 and innovative drugs by 2025.
EPFO fixes 8.65% interest rate on provident fund deposits for FY17
The Employees’ Provident Fund Organisation (EPFO) on Monday lowered the interest rate on provident fund deposits to 8.65% for 2016-17, slightly lower than the 8.80% it paid in the previous year.
Aditya Birla Retail expansion to focus on food and groceries business
After nearly four years in maintenance mode, Aditya Birla Retail Ltd, which operates supermarkets and hypermarkets under the More brand, is now ready to aggressively expand its food and groceries business. Read more.
Laurus Labs shares close up 12.27% on stock market debut
Shares of Laurus Labs Ltd on Monday closed 12.3% above the issue price on the first day of trading, after its initial public offer was subscribed 4.57 times last week.