PT Golden Energy Mines Tbk (PT GEMS), a step-down subsidiary of GMR Power and Urban Infra Limited, stated on Wednesday that it has entered into definitive agreements to sell PT Radhika Jananta Raya a 30% ownership investment in exchange for USD 420 million and deferred consideration.
The Dow Jones Industrial Average (.DJI) rose 36.28 points, or 0.11%, at the open to 31,827.15. The S&P 500 (.SPX) opened higher by 14.51 points, or 0.36%, at 4,000.67, while the Nasdaq Composite (.IXIC) gained 89.42 points, or 0.75%, to 11,972.56 at the opening bell. Weaker-than-expected private payrolls data and a slide in oil prices helped ease some worries about inflation.
​​The benchmark one-year tenor MCLR, which is used to price most consumer loans such as car, auto and personal, will be at 7.70 per cent against the existing 7.65 per cent, PNB said in a regulatory filing on Wednesday. The three-year MCLR stands at 8 per cent, up by 0.05 per cent.
US stock index futures edged higher on Wednesday as technology and growth stocks snapped back. The three main indexes are set for sharp monthly declines, with the tech-heavy Nasdaq down more than 4% after Fed Chair Jerome Powell's blunt and hawkish remarks on Friday about keeping monetary policy tight "for some time" quashed hopes of more modest rate hikes.
. The regulator has restrained Core Investment (proprietor Deepak Bamne) and Core Group (proprietor Matwar Mehra) from securities markets for three years. The direction came after Sebi received a complaint against the entities for not making payout in respect of the investments made by the complainant. In a separate order, the regulator slapped a fine of Rs 10 lakh on 9 entities for violating regulatory norms in the matter of SI Capital and Finance Services Ltd.
A rebound in private consumption - one of the key factors for the economy - and growth in contact-intensive sectors amid declining Covid-19 fears aided economic momentum in the first quarter. Moreover, a severe coronavirus Delta wave in the comparable year-earlier period had impeded growth as consumption demand slackened with state-enforced movement restrictions.
India's eight core industries which include coal, cement, electricity, refinery products, fertilizers, steel, and natural gas, recorded a growth of 4.5% in July against 9.9% recorded in the same month last year, according to official data released by the Ministry of Commerce & Industry on Wednesday.
Stocks fell on Wall Street on Tuesday, posting their third loss in a row as traders worry that high interest rates are here to stay for a while. The S&P 500 fell 1.1% Tuesday, bringing its loss in the past three days to 5.1%. The Dow Jones Industrial Average and the Nasdaq also fell. Energy companies fell along with sliding crude oil prices. Technology stocks and industrial companies were also weak.
ICICI Securities said that while private label brands spanning food, groceries and other categories have been getting sold from Reliance’s own store networks for some time now, this foray would mean a wider distribution to general and modern trade.Initial focus of the company, it said, would be on the small packs and groceries segment, with wider diversification to follow gradually.