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The Competition Commission has approved the state-run Union Bank of India's proposed acquisition of 49 per cent stake in Union KBC Asset Management Company (AMC), said the media report.
The fair trade regulator, which keeps a tab on unfair business practices across sectors, has approved the acquisition as the deal may not have an adverse impact on competition in the country.
Following the transaction, KBC Asset Management of Belgium has exited the Indian asset management business by selling its 49 per cent stake in mutual fund joint venture Union KBC AMC to Union Bank of India.
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A stormy equity rout, landmark currency depreciation, unprecedented state intervention, surprise interest rate cuts and circuit breakers: It's been a year to remember for Chinese financial markets.
For investors who couldn't bear to look, here are the giant slides endured and huge gains made on the wild ride that was investing in China this year.
Largest volume: 85,713,281,024 shares changed hands on the benchmark Shanghai Composite on April 20, at the height of China's equities fever.
Point peak: A series of interest rate cuts and voracious buying from retail investors sent the index to a seven-year high of 5,178 points on June 12.
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Wall Street dropped on Wednesday as Brent crude slid towards 11-year lows and Apple weighed on the S&P 500 index, which clung to a meagre gain for 2015.
The S&P energy sector was the poorest performer among the 10 major sectors, down 1.47 percent after forecasts of a short winter in North America and Europe piled pressure on the oversupplied commodity.
Shares of Exxon lost 1.33 percent while Chevron dipped 1.27 percent. Apple was the heaviest drag on the S&P 500 and Nasdaq Composite, falling 1.31 percent.
Fears of potentially soft iPhone sales have helped push that stock down 9 percent in the past month.
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Asian shares glided higher in early trading on Wednesday, taking their cues from overseas gains, although investors are cautiously watching to see whether renewed selling in crude oil futures will dent sentiment.
"After a strong US and European session, Asian markets are all looking for further gains today," Angus Nicholson, market analyst at IG in Melbourne, said in a note to clients.
"Volumes have been very light at the moment, but that has seemingly been positive news for markets across the region," he said.
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Wall Street rose sharply on Tuesday, elevating the S&P 500 to a modest gain for the year as Amazon and Apple led tech stocks higher.
All 10 major S&P sectors ended with gains, led by a 1.34-percent rise in the technology sector, its strongest performance since the start of the month.
Following a recent selloff over concerns about potentially soft iPhone sales, Apple jumped 1.80 percent and was the biggest influence on the S&P 500 and Nasdaq.
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Asian equities traded mixed on the second day in the final week of trading for 2015, following a lower finish on Wall Street, with prospects for a last-ditch Santa Claus rally appearing dim.
Angus Nicholson, market analyst at spreadbetter IG, said in a morning note that the overnight selloff in oil prices and a late-afternoon drop in Chinese equities on Monday set Asia up for a weak open.
The Shanghai Composite suffered a near 2.6 percent drop on Monday.
Wall Street fell on Monday, hurt by a steep drop in oil prices as well as a dip in Apple shares, pushing the S&P 500 back into negative territory for 2015.
The S&P 500 energy sector lost 1.79 percent, easily the poorest performer as a 3 percent drop in oil prices led investors to unload shares of Exxon Mobil, down 0.73 percent, and Chevron, which fell 1.84 percent.
US stock indexes have closely tracked crude prices in the past several weeks.
Government said coal output by state-owned CIL crossed 9 per cent over last year's production adding that there is "still a very long way to go" amid the PSU eyeing one billion tonnes production target.
"Coal production by Coal India crosses 9 per cent over last year's record production. Well done. Keep it going. Still a very long way to go," Coal Secretary Anil Swarup said in a tweet.
Coal India's production had jumped 8.8 per cent to 321.38 million tonnes (MT) during April-November period of the current fiscal.
CIL produced 295.40 MT during the same period last year, a company official said. The government has set one billion tonnes production goal for the company by 2020. CIL accounts for over 80 per cent of the domestic coal production.
The government has set a production target of 550 MT for the PSU for the current fiscal. Coal India missed the production target for 2014-15 by 3 per cent, recording an output of 494.23 million tonnes.
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Mutual fund houses continued to be bullish on the equity markets in 2015 and purchased shares worth a staggering over Rs 70,000 crore, primarily on account of strong participation from retail investors.
This is on top of Rs 23,843 crore already being infused in the entire 2014. In comparison, Foreign Portfolio Investors (FPIs) made a net investment of just Rs 16,674 crore during the period.
However, in the last three years, foreign funds have made an average investment of USD 20 billion (around Rs 1 lakh crore) each in the Indian stock markets.
According to the latest Sebi data, domestic mutual fund (MF) managers have invested a net Rs 70,173 crore in the equity markets in 2015. The inflows could be much higher for this year as four trading sessions are still left.
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The final week of the year will be 2015's make or break time for stocks and should also offer some important clues about the new year.
The S&P 500 is just barely positive for the year, up just 0.1 percent since January 1. It pulled back slightly Thursday, after a surge that drove it up 2.8 percent to 2,060 in the short trading week. The Dow, down 1.5 percent year-to-date, ended Thursday at 17,552 with a 2.5 percent gain for the week. The Nasdaq is the standout, up 6.6 percent year-to-date.
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Reliance Infrastructure Ltd is in advanced talks to sell its cement business for 26 billion rupees ($394 million) and a deal could be announced as soon as this week, said a source with direct knowledge of the matter.
Under the terms of the deal, the buyer would also take over the cement unit's outstanding debt of 24 billion rupees, giving the business an enterprise value of 50 billion rupees, the source told Reuters, declining to be identified ahead of a public announcement.
A spokesman for the Reliance Group, a diversified conglomerate whose business interests range from telecoms to finance and infrastructure building, declined to comment.
Reliance Infrastructure's cement unit has three plants with total installed capacity of 5.8 million tonne per annum (MTPA). Another 5 MTPA cement manufacturing plant is being developed in western Maharashtra state, according to its website.
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Wall Street rallied for the third consecutive session on Wednesday, propelled by sharp gains in energy stocks as a rebound in oil prices boosted sentiment heading into the Christmas holiday.
The S&P 500 finished 1.24 percent higher, bringing its gain this week to almost 3 percent following a soft start to December.
For 2015, the S&P 500 has emerged into marginally positive territory, up 0.26 percent while the Dow Jones industrial average is down 1.24 percent.
Asian equities delivered some last-minute Christmas cheer, continuing to rally on the last full trading day of the week before the holiday period.
The recovery in oil prices lifted energy stocks in the region, with US crude nearly 1 percent higher in Asia trade following a 4 percent rally overnight.
Data on Wednesday showed US crude inventories fell by 5.9 million barrels in the last week, compared with expectations for an increase of 1.1 million barrels.
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The Reserve Bank of India (RBI) is in the process of preparing a new Payment Systems Vision document, Deputy Governor R. Gandhi said on Tuesday.
"The Reserve Bank is working on the next Payment Systems Vision document. In this context, it is also imperative that market participants also continue to take serious interest in developing the payment systems," he said at an event organised by National Payments Corporation of India here.
The payments landscape in India is changing fast and the key elements are the regulatory focus on creating robuse payments infrastructure, technology enabling solutions and others, said Gandhi, adding that the interoperability of the technology is the key and critical ingredient for evolving a larger payment ecosystems.
"The retail payments in the next 3-5 years are likely to be driven essentially through mobile payments. This is to ride on over one billion mobile connections in the country and the financial Inclusion drive," he said.
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Wall Street rallied across the board on Tuesday after oil prices recovered slightly and data showed that the US economy grew at a fairly healthy clip in the third quarter.
The Dow Jones industrial average ended 0.96 percent higher, with Caterpillar up 4.86 percent in its biggest one-day gain since October.
Oil prices edged up from 11-year lows although persistent global oversupply concerns and tepid demand for heating oil remained in what is likely to be the warmest winter on record.
Asian equity markets followed their Wall Street peers higher on Wednesday as investors cheered strong US data, a pause in the greenback's rally and higher oil prices.
Markets in Japan are shut for the Emperor's Birthday. The region is expected to see quiet trading for the rest of the week amid the Christmas holiday break. Australia, Hong Kong, Singapore and the Philippines will be open for a half-day on Thursday while Japan and China will be the only major markets open on Friday.
दरअसल, हम आपको उन 20 स्टॉक्स के बारे में जानकारी देंगे जिनमें आज ट्रेडिंग कर के आप कमा सकते हैं मुनाफा। भले ही वो शेयर चढ़े या लुढ़के आपको फायदा देकर ही जाएंगे। यानी 20 शेयरों में आज खरीदने या बेचने पर सलाह।
US stocks ended stronger on Monday, helped by bounces in Apple and Microsoft as well as a rally in hospital stocks after more Americans signed up for subsidized health insurance.
Shares of Apple Inc, under pressure in December over concerns that iPhone sales could miss estimates, rose 1.23 percent and boosted major indexes.
About 6 million people have signed up for subsidized health insurance, often called Obamacare, including 2.4 million new customers, the US government said on Friday.
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Asian shares took solace from gains on Wall Street and edged higher on Tuesday, though gains were capped by caution over low share trade volume and plunging Brent crude oil prices ahead of this week's holidays.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS inched 0.1 percent higher in early trade, after Wall Street logged solid gains overnight following a losing week.
Japan's Nikkei stock index was down 0.2 percent in early trade US and most European markets will close on Friday for Christmas.
While Christmas is not a public holiday in Japan, markets will be closed on Wednesday to observe the emperor's birthday.
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Investors' focus will turn to Asia again this week, particularly Japan, after a well-telegraphed interest rate hike by the US Federal Reserve lifted uncertainty over monetary policy in the world's largest economy.
Now that the Fed has lifted rates, investors are starting to assess the impact on Asia. For countries in the region that have relied on debt-fueled growth in recent years, higher borrowing costs could fan concerns over a credit crunch.
Exporting countries in the region are also especially worried about the impact of the slowdown in China.
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US stocks closed lower on Friday for the second straight day, as concerns, ranging from a decline in crude oil prices to the global response to the Federal Reserve's interest hike, weighed down the market.
The expiration of stock and index options contracts added volatility in a heavy trading volume day.
The S&P and Dow had their worst two-day performance since Sept. 1, while indexes posted losses for the week.
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The Indian rupee reversed its some gains seen in previous session. The currency has opened at 66.48 per dollar on Friday, down 6 paise compared to 66.42 a dollar in previous session.
It ended at over 3-week closing high yesterday.
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Asian shares took their cue from Wall Street and slipped on Friday, but were still on track for gains in a week marked by a depreciating yuan in China and the first US interest rate hike in nearly a decade.
By contrast, Taiwan's central bank cut interest rates for the second time this year and said it would keep monetary policy loose to shore up growth in the island's trade-dependent economy as the global demand outlook worsened.
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Indian ADRs ended mostly lower on Thursday. In the IT space, Infosys was dipped 0.29 percent at USD 16.63 and Wipro was down 0.26 percent at USD 11.71.
In the banking space, ICICI Bank remained unchanged at USD 7.44 while HDFC Bank added 0.05 percent to close at USD 59.61.
In the other sectors, Tata Motors was down 0.46 percent at USD 28.43 and Dr Reddy's Laboratories slipped 0.93 percent at USD 44.24.
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US stocks dropped Thursday on persistent concern over faltering global economic growth, led by declines in energy and materials shares, a day after shares had rallied on the Federal Reserve's decision to raise interest rates.
Oil prices LCOc1 CLc1 extended recent declines on persistent oversupply worries and as the dollar hit a two-week high. Dow components Exxon and Chevron were down, by 1.5 and 3.1 percent, respectively.
Newmont Mining, which fell 7.7 percent to USD 17.61, led declines on the materials index, which fell 1.9 percent. The S&P energy index .SPNY fell 2.5 percent.
The day's fall followed three sessions of gains. On Wednesday, the market rallied after the Fed raised its benchmark rate by 25 basis points to between 0.25 and 0.50 percent, signalling confidence in the world’s largest economy.
Investors' focus returned on Thursday, however, to concerns about weak global economic conditions as the slide in commodity markets continued unabated.
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