Shares of India’s largest state-run lender SBI plunged on Wednesday morning, after global firm Morgan Stanley slashed its share price target. SBI shares plunged more than 4.6% to hit the day’s low at Rs 288.75 on BSE. Morgan Stanley said that the upside on the shares remains limited given uncertainty on Asset quality and Net Interest Margin. The global firm noted that the recent tax rate cut outweighs lower margins. Morgan Stanley has raised the FY21, FY22 EPS estimates by 5% each.

As many as 17 Indian companies, including Infosys, TCS and HDFC, have been named in the list of World’s Best Regarded Companies compiled by Forbes. IT major Infosys has been ranked third in the list of World’s Best Regarded Companies, along with global payments technology company Visa and Italian car-maker Ferrari on the first and second position, respectively. Infosys jumped to the third spot from 31st position in 2018. “Infosys’ leading position headlined an Asian invasion in the rankings,” Forbes said.

The one-day strike on Tuesday by coal workers against FDI in the sector has led to an estimated loss of 1 million tonnes (mt) in production as the Centre looks to initiate talks with the unions to normalise the situation by Wednesday.

The strike has affected production across the subsidiaries of Coal India and Singareni Collieries.

Mumbai: Indian stock markets may be tepid on Wednesday as global peers are weak. Asian stocks fell on Wednesday after US lawmakers called for an impeachment inquiry of President Donald Trump, increasing the prospects of prolonged political uncertainty in the world's largest economy.

Mumbai: The Reserve Bank of India (RBI) put severe curbs on Punjab and Maharashtra Co-operative (PMC) Bank on Tuesday, including on cash withdrawals, amid a probe into accounting lapses, sparking speculation that the regulator may force a management change through a merger.

New Delhi/Geneva: Ahead of a bilateral meeting with Prime Minister Narendra Modi, US President Donald Trump said the two countries will soon sign a limited trade accord, while a free trade agreement will be signed later.

“We will have a larger trade deal down the road, but we will have a (limited) trade deal very soon," Trump told reporters.

IDBI Bank has put on the block non-performing loans worth over Rs 9,750 crore to clean up its balance sheet.

The top 10 exposure up for sale include Lanco Amarkantak (Rs 1,077 crore), Reliance Communications (Rs 721 crore), Ballarpur Industries (Rs 493 crore), Jyoti Structures (Rs 396 crore), and Unitech (Rs 395 crore).

Finance Minister (FM) Nirmala Sitharaman on Tuesday implored women to come out of their “comfort zones”, stating that while there are laws to ensure more representation to women in governing boards and as independent directors in companies, her experience in the government is that it is difficult to find women.

Gurgaon-based luxury malls developer, DLF is planning to focus more on food and beverages and allocate around 20 per cent of space to the dining options across its project offerings, a senior company official said.

DLF, which has malls across Delhi, Noida, Gurgaon and Chandigarh, has been allotting nearly 12 per cent of the total space to F&B.

GMR Infra, Adani, and Reliance Infra are among the 19 companies that have bid for developing the Rs 16,000-crore Noida international airport in Jewar, Uttar Pradesh.

The state government aims to complete technical and financial bidding by February-March 2020, said Shrikant Sharma, minister and state government spokesperson, in Lucknow on Tuesday after a cabinet meeting.

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