Home >Market >Stock-market-news >Opening Bell | Indirect tax collection jumps; Tata Steel, Zee Entertainment in focus

Asian markets open lower

US markets closed mixed. S&P 500 gained a marginal 0.08% to reach 2,058 points. Asian markets opened weak, weighed down by selling in shares of commodity companies.

Govt not averse to giving Rajan a second term

Government is not averse to giving Reserve Bank of India governor Raghuram Rajan a second term as his current tenure comes to an end in September, reports Business Standard.

Relaxed FDI norms for asset reconstruction companies

The government has notified the relaxed foreign investment norms in asset reconstruction companies, as it looks to effectively deal with the burgeoning bad debts in the Indian banking system, reports Mint.

Indirect tax collection rises 41% in April

The central government’s indirect tax collection rose 41% in April, partly due to additional revenue mobilisation measures. Read more.

Car sales grow for the first time in three months

Sales of passenger cars in India grew for the first time in three months in April, with the automobile industry lobby suggesting that the growth was driven solely by urban demand, reports Mint.

Maruti asks vendors to be ready for double-digit growth

Maruti Suzuki Ltd has asked its component suppliers to make investment for the future, with it predicting double-digit expansion in annual sales, reports The Economic Times.

Tata Steel shortlists bids for UK business

Tata Steel Europe, a unit of Tata Steel Ltd, has taken forward seven expressions of interest it had received for its entire UK assets to the next stage of the sale process.

GMR sells 30% stake in GMR Energy

Malaysia’s largest electric utility Tenaga Nasional Bhd will invest $300 million in GMR Infrastructure Ltd’s subsidiary GMR Energy Ltd and pick up 30% equity stake in a “select portfolio" of GMR Energy’s assets. Read more.

Crompton Greaves appoints bankers for sale of assets

Crompton Greaves Ltd has agreed to sell its power businesses in Europe, North America and Indonesia to a unit of US private equity fund after accepting a revised offer and also appointed investment bankers to find potential buyers for its other assets, reports Mint.

L&T Finance to sell private equity investments

L&T Finance Holdings Ltd plans to sell private equity and proprietary investments worth 800 crore, reports Business Standard. The paring of investment is part of a strategy to improve the use of resources, enhance the return on equity.

Bharati Defence plans to hive off Goa-based shipyard

Debt-laden Bharati Defence and Infrastructure Ltd (formerly known as Bharati Shipyard Ltd) plans to make its Goa-based defence shipyard Pinky Shipyard Ltd a separate entity and bring in an international defence shipyard as an equity partner, reports Mint.

Reliance Jio may begin commercial operations in October

Reliance Industries Ltd may begin commercial operations of its telecom arm Reliance Jio Infocomm Ltd (Jio) from October, CLSA reportedly said. Starting last week, Jio has expanded its trial service of Jio SIM cards on an invite-only basis.

Zee Entertainment earnings today

Zee Entertainment Enterprises Ltd, SRF Ltd, Radico Khaitan Ltd, NIIT Ltd, EID Parry (India) Ltd and Kaveri Seed Co. Ltd are some of the companies that will release their earnings for the March quarter today.

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