Opening Bell | Asian markets open lower; Tata Steel, HPCL in news
In other news, Mahindra CIE Automotive looking for more acquisitions
Asian markets retreat
US markets closed lower. S&P 500 lost 0.57% to 2,164 points, on selling in energy stocks. Asian markets retreated in the morning as safe haven assets gained ground.
RBI governor downplays inflation risk
In an interaction with economists last week, Reserve Bank of India (RBI) governor Urjit Patel downplayed the risk of inflation and focused on growth, reports The Economic Times.
Mahindra CIE looking for more acquisitions
Even as the Bill Forge Ltd acquisition is underway, Mahindra CIE Automotive Ltd is on a look-out for more companies for buyouts or partnerships, reports Mint. The company plans to scale up its revenues and profits.
Tata Steel to hold pension talks in UK
Tata Steel Ltd is set for what are said to be crunch talks with trade union representatives of its UK steelworks to settle the deadlock over pension scheme for its workers, the main obstacle in its merger with German company ThyssenKrupp, reports PTI.
DLF Brands likely to lose Mango franchise
DLF Brands, the retail arm of real estate firm DLF Ltd, may lose the franchise for Spanish fashion brand Mango, which is looking to consolidate its operations in India with its other partner, reports Mint.
HPCL to start global oil trading desk
Hindustan Petroleum Corp. Ltd (HPCL) is planning to set up an international oil trading desk, reports Mint. The desk would either be set up in Singapore or London.
Rashtriya Chemicals to set up urea plant in Iran
Rashtriya Chemicals & Fertilizers Ltd has formed a venture with Gujarat State Fertilizer Corporation and Faradast Energy Falat Company for the development of a 1.3 million tonne urea plant at Chahbahar in Iran, reports Business Standard.
Arvind enters footwear retail
Arvind Group has readied plans to enter footwear retail market, reports The Times of India. According to the report, the company opened its first store in Bengaluru.
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