US stocks end lower; Asian markets open mixed

Major indices in the US closed slightly lower for the day on Friday but finished higher for the week. US markets remained shut on Monday on account of Christmas.

Asian markets were mixed early in the Tuesday session in what’s likely to be a light, holiday week trading.

Govt likely to give Sebi powers to regulate private placements

The government is likely to give the Securities and Exchange Board of India (Sebi) the power to regulate private placements by any Indian entity at a time when the capital markets regulator is finalizing norms for crowdfunding, reports Mint.

Cummins in talks to acquire Kirloskar Oil Engines in $500 million deal

The Cummins Group, one of the world’s largest manufacturers of engines and power generation products, is in talks to acquire a controlling stake in Kirloskar Oil Engines Ltd in a deal valued at over $500 million through one of its Indian subsidiaries.

Reliance Jio enhances cashback offer to up to Rs3,300 on Rs399 recharge

Telecom operator Reliance Jio enhanced the cashback offer to up to Rs3,300 on mobile recharge of Rs399 and above for all recharges that will be done till 15 January next year. Read more

Indian Oil, BPCL keen to acquire GAIL but it wants merger with ONGC

Indian Oil Corp. Ltd and Bharat Petroleum Corp. Ltd (BPCL) are both keen to acquire gas utility GAIL India Ltd to become fully integrated energy companies. GAIL, on the other hand, feels a merger with Oil and Natural Gas Corp. (ONGC) would be more appropriate.

Finance ministry asks public sector banks to close loss-making branches

The finance ministry has asked public sector banks (PSBs) to look at rationalising their domestic and overseas branches as part of the reform process to strengthen their financials.

Bhel bags Rs7,300 crore order to set up plant in Tamil Nadu

Power equipment maker Bharat Heavy Electricals Ltd (Bhel) has won a Rs7,300 crore order for setting up a supercritical thermal power project (TPP) in Tamil Nadu.