US stocks end lower; Asian markets open mixed
US markets closed slightly lower. S&P 500 at 2,345 points is down 0.11% as US lawmakers delayed the vote on the healthcare bill. Tracking the cues, Asian stocks opened muted.
RBI puts 4 banks under watch on asset quality concerns
The Reserve Bank of India (RBI) has put four public sector lenders, including IDBI Bank and Indian Overseas Bank, under watch and advised them to stay off risky assets so that their financial health is not stressed further, reports PTI.
NTPC said to propose buying govt’s stake in SJVN
NTPC Ltd is seeking to buy the government’s stake in hydro-power producer SJVN Ltd to boost the share of non-fossil fuel generation capacity, reports Bloomberg.
Airtel to buy Tikona’s 4G business for Rs1,600 crore
Bharti Airtel Ltd has agreed to buy Tikona Digital Networks Pvt. Ltd’s 4G business, including its broadband wireless access spectrum and 350 cellular sites in five telecom circles, for around Rs1,600 crore.
Yes Bank revives QIP, looks to raise up to $750 million
Private sector lender Yes Bank Ltd revived its qualified institutional placement (QIP) issue on Thursday with a reduced size of $750 million after its attempt to raise $1 billion in September flopped, reports Mint.
Ballarpur Industries debt crisis deepens as imports rise
Creditors of Ballarpur Industries Ltd may face costly unintended consequences from punitive US duties as competition intensifies and the company may default on debt obligations, reports Bloomberg.
Gujarat NRE Coke files for bankruptcy
Gujarat NRE Coke Ltd has filed for insolvency with the National Company Law Tribunal, reports Business Standard. According to the report, the company owes Rs3,200 crore to a group of lenders that include the State Bank of India.
Shankara Building IPO subscribed 2.49 times on Day 2
The initial public offering (IPO) of Shankara Building Products, a retailer of home improvement and building products, received bids for 2.49 times the shares on offer at the end of the second day of the bidding process.
PMO steps in to resolve steel sector bad debt woes
With banks reluctant to take any action on the debt recast of the steel sector, the government is stepping in to sort out the issues, reports Business Standard. According to the report, the Prime Minister’s Office (PMO) along with finance ministry is working on a fresh package for the sector.
Farm loan waiver tops UP CM’s agenda
Lastly, sticking to its electoral promise, the Bharatiya Janata Party (BJP) government in Uttar Pradesh under chief minister Yogi Adityanath is giving top priority to farm loan waivers, reports Mint.
