Opening bell: Asian stocks open mixed; ICICI Bank, PNB Housing Finance in news
In other news, the government is weighing various options, including qualified institutional placement , to bring down its stake in IDBI Bank
Asian stocks mixed in morning trade
Asian markets were little changed in the morning trade. MSCI’s broader index of Asia-Pacific shares outside Japan was up 0.05%, reports Reuters. Over the weekend US stocks closed higher. S&P 500 rose 0.31% to 2,779.
ICICI Bank, Chanda Kochhar under US SEC scanner
As multi-agency probe continues in India into alleged lapses involving ICICI Bank’s CEO Chanda Kochhar and her family members, the matter has also come under the scanner of the US markets regulator Securities and Exchange Commission (SEC), reports PTI.
PNB signals recovery, eyes profit
Punjab National Bank (PNB), which recently reported a huge loss, is aiming to clock profit in the July-August this year, reports Business Standard.
Carlyle to sell its stake in PNB Housing Finance
Buyout firm Carlyle is looking to sell its entire stake in PNB Housing Finance, reports The Economic Times. Carlyle now owns a 33% stake in PNB Housing Finance, noted the report.
Oberoi Realty looks to raise funds via QIP
Real estate developer Oberoi Realty Ltd is planning to raise funds from institutional investors through a qualified institutional placement (QIP), reports Mint.
Indian Hotels in race to acquire The Connaught
Indian Hotels Co. Ltd, which runs the Taj chain of hotels, and Sarovar Hotels Ltd are among the three hotel chains vying for New Delhi’s The Connaught, a premium hotel shut down two years ago, reports Mint.
Govt weighs options to reduce its stake in IDBI Bank
The government is weighing various options, including qualified institutional placement (QIP), to bring down its stake in IDBI Bank, reports PTI.