BackOpening Bell | Tata Steel, Sun Pharma, Ashok Leyland, Gayatri Projects in focus
Global equities gain after the US Federal Reserve chair Janet Yellen sounded cautious about interest rate hikes
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Global equities gain on cautious Fed
Overnight, the US markets closed higher. S&P 500 gained 0.88% to 2,055 after the US Federal Reserve chair, Janet Yellen, sounded cautious about interest rate hikes. Tracking the cues, Asian markets opened higher.
Govt allows 100% FDI in online marketplace
The government on Tuesday allowed 100% foreign direct investment (FDI) in online retail of goods and services under the so-called “marketplace model" through the automatic route. Read more.
Supreme Court allows Sebi to sell Sahara properties
The Supreme Court on Tuesday asked the capital market regulator to initiate the sale of Sahara group properties to raise the money payable by group chief Subrata Roy for his release from jail, reports Mint.
Tata Steel puts UK business for sale
Tata Steel Ltd is considering the sale of its entire UK business to stem heavy losses, reports Reuters. According to the report, the company’s European arm would now “explore all options for portfolio restructuring, including the potential divestment of Tata Steel UK, in whole or in parts".
Sun Pharma buys 14 of Novartis’s brands in Japan
Sun Pharmaceutical Industries Ltd acquired 14 prescription brands from Novartis AG and Novartis Pharma AG in Japan for $293 million. Read more.
Ashok Leyland wins defence order worth ₹ 800 crore
Ashok Leyland Ltd has won orders valued at ₹ 800 crore from the armed forces. The company will supply field artillery tractor, super stallion vehicles and ambulances.
Reliance Defence, Rafael to set up air defence JV
Reliance Defence Ltd, a unit of Reliance Infrastructure Ltd, and Israel’s Rafael Advanced Defence Systems Ltd have agreed to set up a joint venture in the specialized areas of air-to-air missiles, air defence systems and large aerostats, reports Mint.
Nestle tries to reduce load on Maggi noodles
Nestle India Ltd is planning to launch new dairy products in the next couple of months as part of its strategy to cut dependence on Maggi instant noodles. In the quarter ended 31 December, the company launched two new chocolate products, reports Mint.
JSW Energy in talks to buy three power assets
JSW Energy Ltd is in various stages of discussions to buy three power assets, reports Mint. The three power producers are Monnet Power Co. Ltd., Jaiprakash Power Ventures Ltd and Jindal Power Ltd, a unit of Jindal Steel and Power Ltd.
IDFC fund in talks to buy out Gayatri Projects’ stake in two highways
IDFC Alternatives Ltd, the asset management arm of Infrastructure Development Finance Co. Ltd (IDFC), is looking to buy partner Gayatri Projects Ltd’s controlling stake in two road projects, reports Mint.
JSPL in talks to sell stake in rail mill unit
Jindal Steel and Power Ltd (JSPL) is in advanced discussions with Japan’s Yamato Kogyo Co. Ltd to sell up to 49% stake in its rail mill unit, reports The Economic Times.
Reliance Jio preparing for soft launch of 4G services
Reliance Jio, the telecom arm of Reliance Industries Ltd, is preparing for a soft launch of its 4G services soon, Credit Suisse said in a note, reports PTI. Jio has already launched services for Reliance group employees and their friends three months back.
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