US markets close at record highs
US markets closed at record highs. S&P 500 and Nasdaq composite closed at fresh records as rise in oil prices lifted investor sentiment. Tracking the cues Asian markets opened with gains.
EPFO looks to invest Rs18,000 crore in stocks
India’s retirement fund manager Employees’ Provident Fund Organization will invest at least Rs18,000 crore in stocks in the current financial year, adding fuel to a stock market that is already on fire, reports Mint.
Market volatility touches record lows
The India VIX index, the so-called fear index, fell to a record low of 8.4 during the day before closing at 10.67 on Monday. Read more.
HDFC matches SBI home loan rates
HDFC Ltd cut the interest rate to 8.35% for female borrowers and 8.40% for others for loans up to Rs30 lakh, on par with the rates now offered by ICICI Bank Ltd, State Bank of India Ltd (SBI) and LIC Housing Finance Ltd.
Maruti Suzuki to launch new Dzire today
Maruti Suzuki India Ltd will on Tuesday launch the new version of their popular Dzire compact sedan, in an attempt to revive growth in a segment that the car already dominates, reports Mint.
Colgate to step up its presence in herbal products
As competition intensifies, Colgate-Palmolive (India) Ltd plans to ramp up its herbal portfolio in the next few quarters, reports Business Standard. The company reported a 3% decline in volumes for the March quarter.
Exports up 20% in April; trade deficit widens
India’s merchandise exports grew in double digits for the third consecutive month in April, signalling a sustained recovery in global demand, as a three-fold jump in gold imports bumped up the trade deficit, reports Mint.
Drug makers wary as US FDA sharpens focus on quality control
Indian drug makers are finding that it’s not enough to just tick the boxes on the quality control front but be fanatic about every tiny aspect to meet the US drug regulator’s elevated expectations, reports Mint.
Tata Steel, Punjab National Bank earnings today
Whirlpool of India Ltd, Tata Steel Ltd, Symphony Ltd, PI Industries Ltd, Oracle Financial Services Software Ltd, Punjab National Bank Ltd (PNB), Quess Corp. Ltd and Andhra Bank Ltd are some of the companies that will release their earnings for the March quarter on Tuesday.