Thursday, 6 July 2017

Opening bell: Asian Markets open Mixed; Essar Steel, Axis Bank in News

US stocks end higher; Asian markets open mixed

US stocks closed mostly higher on Wednesday as tech snapped a three-day losing streak.

Asian markets traded sideways early on Thursday despite the mostly stronger close on Wall Street, as oil prices tumbled in US trade.

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Essar Steel’s legal challenge may prolong bad loans fight
Essar Steel Ltd’s move to challenge the Reserve Bank of India (RBI) directive to banks to initiate bankruptcy proceedings against the company could slow down the resolution process, legal experts say.

SC declines relief to Sahara’s Subrata Roy, refuses to extend deadline for payment of Rs552 cr

The Supreme Court refused to extend the 15 July deadline for payment of a second instalment of Rs552 crore by the Sahara Group to a Securities and Exchange Board of India (Sebi)-Sahara account.

Axis Bank launches loans for super bikes, to fund 95% of costs

As the higher engine displacement ‘super bikes’ catch fancy of the Indian consumer, Axis Bank introduced a special loan product, offering to fund up to 95% of the costs.

Mahindra Finance to raise Rs2,000 crore via non convertible debentures

Mahindra and Mahindra Financial Services Ltd (Mahindra Finance) plans to raise Rs 2,000 crore through issuance of debt securities to fund future lending and settle current liabilities.

Lupin shares rise nearly 4% on drug launch

Shares of Lupin rose by nearly 4% after the company announced the launch of generic version of a conjunctivitis drug in the US market.

Tata Motors cuts passenger vehicle prices by up to Rs2.17 lakh after GST rollout

Automaker Tata Motors announced a reduction in price of its passenger vehicles by up to Rs2.17 lakh, making available the goods and services tax (GST) benefit to its customers.

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