Fed meeting in sight but election looms for stocks
NEW YORK The Federal Reserve meets next week and the U.S. government releases an important report on jobs, but investors could be forgiven for having something else on their minds.
MUMBAI Tech Mahindra(TEML.NS) rose as much as 4.9 percent on Wednesday after a block sale of 9.3 million shares, widely seen as coming from BT (BT.L), fetched a higher-than-expected price.
BT was set to sell its 9.1 percent stake in the Indian IT services provider on Wednesday at a floor price of 855 rupees, according to a term sheet seen by Reuters.
The National Stock Exchange reported on Wednesday a block sale at 871 rupees per share. The exchange did not name the seller, but traders widely attributed it to BT.
Tech Mahindra shares were up 4.3 percent as of 9:28 a.m.
(Reporting by Abhishek Vishnoi and Rafael Nam;Editing by Sunil Nair)
NEW YORK U.S. stocks declined in a volatile session on Friday but were able to partially recover from a sharp drop spurred by news the FBI will review more emails related to Democratic presidential candidate Hillary Clinton's private email use.
MUMBAI Tata Capital Financial Services said its loans to Siva Industries and Holdings and Siva Ventures Ltd had a high security cover, were backed by a personal guarantee from Chairman C Sivasankaran and settled over two years ago.