US stocks close mildly higher; Asian markets open flat
US stocks eked out a positive close Wednesday, with gains in real estate and utilities offsetting declines in energy and telecommunications stocks.
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Asian markets were little changed early on Thursday after an oil rally fizzled and copper prices soared overnight.
Govt cuts small savings interest rate by 0.2 percentage points
The government has cut the interest rate on small savings schemes, including Public Provident Fund (PPF), National Savings Certificate (NSC) and Kisan Vikas Patra, by 0.2 percentage points for the January-March quarter, a move that will prompt banks to lower deposit rates.
Cairn India acquires 51% stake in AvanStrate from Carlyle Group
Cairn India Holdings Ltd, a unit of metals and mining firm Vedanta Resources Plc, has acquired a controlling equity stake in Japanese company AvanStrate Inc. for $158 million, Vedanta said.
KKR commits Rs193 crore in Kolte-Patil’s township
KKR and Co. has committed Rs193 crore for a township project being developed by a joint venture between Pune-based Kolte-Patil Developers Ltd and ICICI Venture Funds Management Co. Ltd.
RCom shares surge over 150% in last six trading sessions
Shares of Reliance Communications Ltd (RCom) surged over 150% in the last six trading sessions after the company announced a Rs39,000-crore debt resolution plan.
DLF looks to raise Rs3,500 crore via debentures, warrants to promoters
Realty major DLF’s shareholders approved an issue of debentures and warrants to promoters in lieu of Rs11,250 crore equity infusion into the company to reduce company’s net debt significantly. The company is looking to raise more than Rs3,500 crore through this process.
Online retail industry grows 23% to $17.8 billion: report
After nearly 18 months, India’s e-commerce market finally picked up sharply in the second half of the year, driven by strong growth at Flipkart Ltd and Amazon India and new entrant Paytm E-commerce, according to RedSeer Management Consulting, a market research and consulting firm.
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