Asian markets gained in morning trade led by gains in the shares of mining companies. Overnight, the US markets closed flat. According to, investors are awaiting US president-elect Donald Trump’s news conference later in the day for cues on fiscal spending, international trade and currencies.
Auto sales plunge to 16-year low in December
Sales of automobiles, a measure of consumer demand in the economy, declined across segments in December. According to the report, across segments, sales declined 18.66%, the most since December 2000.
Housing sales down 41% in October-December 2016
Home sales in the October-December period fell 41% from a year ago to 40,936 units across eight major cities, while launches fell an even sharper 61% to 24,316 units,
Adani, Tata Power in race for Rajasthan power project
The Rajasthan government’s plan to sell the 1,000 megawatt Chhabra project is gaining traction with at least three suitors, US-based electricity producer AES Corp., Tata Power Co. Ltd-ICICI Venture Funds Management Co. Ltd and Adani Power Ltd,
Tata Motors global sales rise 4% in December
Tata Motors Ltd reported a 4% rise in global sales in December at 95,081 units, including that of Jaguar Land Rover vehicles,
Suzlon to raise Rs800 crore for renewable energy platform
Suzlon Energy Ltd is set to raise Rs800 crore (around $120 million) from private equity investors Asia Climate Partners and Olympus Capital Asia to create a renewable energy platform
JSW Energy’s long-term power purchase tender for Karnataka expires
JSW Energy Ltd’s much awaited long-term power purchase agreement with Karnataka government has fallen through, forcing the company to look for short-term options,
L&T, HCC, others shortlisted for Mumbai trans-harbour link project
Mumbai Metropolitan Region Development Authority has shortlisted 29 contractors for the three packages of the Mumbai Trans Harbour Link,. The shortlisted bidders include L&T Ltd, HCC Ltd, IL&FS Transportation Networks Ltd, Simplex Infrastructures and NCC Ltd.
Tax evasion suspected in Rs3-4 trillion deposits
The tax department has reportedly detected deposits worth Rs3-4 trillion of unaccounted income in over 60 lakh bank accounts during the 50-day window following the government’s decision to scrap high-denomination currency notes.