US stocks end lower; Asian markets open mixed
US stocks closed lower on Thursday in light year-end trading as traders began to look ahead to 2017. Asian shares opened mixed on the last trading day of the year, as the dollar weakened on lower US bond yields and Wall Street closed lower without a Santa Claus rally in sight.
Cash withdrawal limits to be rolled back in phases
The government is proposing a staggered relaxation of existing restrictions on cash withdrawals from banks after 30 December. This is aimed at smoothening the transition as the Reserve Bank of India (RBI) supplies new currency notes.
Banks face ‘significant’ stress, but stable overall, says RBI
The banking sector continues to face “significant” levels of stress but the financial system remains stable overall after moves to enhance transparency, Reserve Bank of India (RBI) governor Urjit Patel said in the biannual Financial Stability Report.
Tata Sons asks Cyrus Mistry to return confidential documents
Tata Sons demanded former chairman Cyrus Mistry return all confidential information and documents regarding the company in his possession, in its second legal notice in as many days.
NSE files draft IPO papers, investors to divest 22.5% stake
National Stock Exchange of India Ltd (NSE) filed its initial public offering (IPO) prospectus with market regulator Securities and Exchange Board of India (Sebi). The share sale is expected to be India’s second-biggest IPO.
Reliance Jio explains free call, data offer to Trai
Billionaire Mukesh Ambani-led Reliance Jio has told telecom regulator Telecom Regulatory Authority of India (Trai) that its latest voice and data offer does not violate any of the existing norms that requires promotional offers to be limited to 90 days. Read more
Lakshmi Vilas Bank launches QIP to raise Rs600 crore
Private sector Lakshmi Vilas Bank has launched Qualified Institutional Placement (QIP) to raise over Rs599.88 crore by issuing 4.25 crore shares in domestic or international markets.
Lupin gets USFDA nod for ulcerative colitis drug
Drug firm Lupin Ltd has received tentative approval from the US health regulator to market its Balasalazide Disodium tablets, used for treatment of ulcerative colitis, in the American market.
Religare Enterprises board okays merger of 11 subsidiaries
Diversified group Religare Enterprises has given its go-ahead to the merger of several of its entities with itself for better synergy and simplifying corporate structuring. Read more
