Opening bell: Asian markets cautious on North Korea missile launch; IndiGo, Maruti Suzuki in news
Asian markets tentative in morning trade
Wholesale inflation in August rises to 4-month high
India’s wholesale inflation accelerated to a four-month high of 3.24% in August, in line with the trend in retail inflation, strengthening the case for a pause on interest rates by the Reserve Bank of India in its monetary policy review next month, reports Mint.
IndiGo parent InterGlobe Aviation’s share sale today
InterGlobe Aviation Ltd, which runs IndiGo, will conduct a share sale to institutional investors on Friday that will raise for the company and its founders as much as Rs39.45 billion ($616 million). Read more
German Dry Docks looks to acquire Bharati Defence
German Dry Docks Group has approached the lenders of troubled Bharati Defence and Infrastructure Ltd (formerly Bharti Shipyard) for a possible acquisition, reports The Economic Times.
Tata Chemicals in talks to sell Haldia unit for Rs400-500 crore
Tata Chemicals Ltd said it is in advanced talks with Indorama Holdings BV to sell its Haldia fertiliser unit in West Bengal for Rs400-500 crore, reports PTI.
Maruti gets electric boost as Suzuki vows to produce batteries
Suzuki Motor Corp. said that its joint venture will start making lithium ion batteries from 2020, reports Mint. The move comes as a shot in the arm for Maruti Suzuki India Ltd, Suzuki’s local unit, which is considered to be a laggard in the segment, the report adds.
Govt puts on hold auctions for 1 gigawatt of wind power projects
The government has put on hold auctions for 1gigawatt of wind power projects, which were to be conducted by the Solar Energy Corp. of India on 19 September, reports The Economic Times.
Tatas looking to wind down mobile services business
Tata Group chairman N. Chandrasekaran is evaluating the option of winding down the mobile services business, Tata Teleservices, after attempts to sell the unit failed, reports The Times of India.
Coal India to venture into metals mining
Coal India Ltd is planning to enter the metallurgical mining sector and has narrowed down on iron, copper, bauxite and nickel as the primary metals, reports Business Standard.
Bullet train project may help revive Bhel’s fortunes
Bharat Heavy Electricals Ltd (Bhel) is eyeing a major role in the Ahmedabad-Mumbai high-speed rail project, popularly called bullet train, ranging from manufacturing coaches and civil construction work to laying down rail links, reports Mint.
SpiceJet deposits Rs250 crore in share transfer dispute with Maran
SpiceJet Ltd has deposited Rs250 crore with the registrar general of the Delhi high court in compliance with a Supreme Court order related to a share-transfer dispute.
Patanjali to enter dairy, apparel businesses this year
Patanjali Ayurved Ltd will launch products in the dairy and apparel business this calendar year, said its founder Ramdev. Read more
Tata Sons plans to become private limited company
Lastly, in a notice to its shareholders ahead of the annual general meeting, Tata Sons has sought approval to amend its memorandum of association and articles of association to convert itself from a public limited company to a private limited one, reports Business Standard.