Asia tracks US market gains
Asian markets opened higher, following the US market gains. Over the weekend, US stocks closed higher on new administration’s plan to roll back financial regulations, reports Bloomberg. S&P 500 at 2,297 points is up 0.7%.
RBI seen cutting rates by 25bps as inflation slows
Slowing inflation and a fiscally responsible budget may sway the Reserve Bank of India (RBI) to cut interest rates on Wednesday, according to a Mint survey of economists from 10 banks.
Infosys may abandon annual forecasts
Infosys Ltd may end the practice of giving an annual revenue forecast because of the difficulties associated with estimating how much its US clients will spend, especially after Donald Trump became president, reports Mint.
Emami planning to sell She Comfort
Consumer goods maker Emami Ltd has stopped investing in its sanitary napkin business and is looking to sell its She Comfort brand after acquiring it for an undisclosed sum in June 2014, reports Mint.
Cochin Shipyard enters talks to buy ABG
State-run Cochin Shipyard Ltd has started preliminary discussions to buy a controlling stake in debt-ridden ABG Shipyard Ltd, reports Mint. As on 30 September, lenders held 50.46% stake in ABG Shipyard.
Dr. Reddy’s Q3 profit falls 16%
Dr Reddy’s Laboratories Ltd, India’s second-largest drugmaker by sales, reported a 16% fall in its third quarter profit due to weak sales in North America and emerging markets.
Tech Mahindra suspends appraisal cycle for senior employees
Tech Mahindra Ltd has suspended the appraisal cycle for employees with more than six years of experience pending a management review, as the IT industry grapples with changes in its business, reports The Economic Times.
JSW looking to invest in LNG business
The JSW Group is exploring investment options in liquefied natural gas business, reports Business Standard. According to the report, the group is planning a foray into a re-gasification terminal.
Airtel files complaint with CCI against Reliance Jio
Bharti Airtel Ltd has filed a complaint against Reliance Jio Infocomm Ltd with Competition Commission of India (CCI) accusing the latter of “creating a monopoly for itself" to reap higher profits in the long run.
IndiGo’s security training centre licence suspended
Aviation security watchdog Bureau of Civil Aviation Security (BCAS) has suspended the licence of budget carrier IndiGo’s aviation security training centre for lapses in its examination system, reports PTI.
PSU disinvestments to touch Rs45,000 crore in FY17
With less than two months to go for the current financial year to come to a close, finance minister Arun Jaitley has exuded confidence that receipts from PSU (public sector undertakings) disinvestment will touch Rs45,000 crore in 2016-17, reports PTI.