Sensex opens in green on renewed buying

Monday, 22 August 2016 00:00

The Sensex recovered nearly 58 points in early trade on Monday, supported by fresh buying in select blue-chip stocks on positive investor sentiment triggered by the appointment of Urjit Patel as the next RBI Governor.

With an aim to develop corporate bond market in India, an expert panel today suggested easing of norms for foreign investors, a corporate bond index on the lines of Sensex or Nifty, and making it mandatory for large corporates to tap this market for funds beyond a threshold.

Governor Raghuram Rajan’s policy of tight leash on inflation has showed results and the Reserve Bank should continue with similar policies and communication going forward, Moody’s Investors Service has said.

Tata Chemicals has entered into an agreement with Norwegian company Yara International ASA to sell its Babrala urea plant and distribution business in Uttar Pradesh for $400 million (Rs.2,670 crore).

In a sharp jump, average CEO salary at top-listed companies in the private sector is approaching Rs. 20 crore — double the level seen just two years ago at about Rs. 10 crore.

Banks in India likely to reduce lending rates

Wednesday, 03 August 2016 00:00

Indian banks are likely to reduce lending rates further, after having cut base lending rates by 70-90 basis points (bps) in the past few quarters, according to S&P Global Ratings.

Flipkart-owned Myntra today said it has acquired Jabong from Global Fashion Group for an undisclosed amount, a move that will mark further consolidation in India’s booming e-commerce industry.

With its Start-up Policy having drawn only lukewarm response so far, the government is planning a twin-pronged approach to spur the initiative.

The government is exploring ways to assist regional airlines in raising loans at cheaper interest rates to import aircraft as a part of the regional connectivity scheme.

Stock closes up 32 per cent from its initial public offering price of 3,300 yen, and valuing the firm at around $8.6 billion.