Opening bell: Asian markets open higher; Tata Motors, Cipla in news
In other news, the Delhi high court barred Cipla from selling copies of Novartis AG’s respiratory drug Onbrez in India, upholding the patents held by the swiss drug maker
US stocks end flat; Asian markets open higher
US equities closed flat Thursday as investors got ready for key employment data. Shares in Asia were mostly higher, except in South Korea, which is awaiting a court’s verdict on President Park Geun-hye’s impeachment late last year by the legislature.
Exit polls show it’s advantage BJP in assembly elections 2017
The exit polls are out and they signal that the Bharatiya Janata Party (BJP) is likely to emerge as the major victor from the latest round of state assembly elections, too. The counting of votes in all five states which went to polls will take place on 11 March.
Indian banks at risk of skipping coupon payments on bonds, says Fitch
Indian banks are still at risk of defaulting on their interest payments on certain capital instruments in the next couple of years, as a large number of them are under-capitalised, global rating agency Fitch Ratings said in a note on Thursday.
Delhi HC bars Cipla from selling Novartis’ respiratory drug
The Delhi high court has barred Cipla Ltd from selling copies of Novartis AG’s respiratory drug Onbrez in India, upholding the patents held by the swiss drug maker.
RBI opposes $1.17 billion settlement pact between Tata and Docomo
The Reserve Bank of India (RBI) has opposed the consent terms between Tata Sons Ltd and NTT Docomo Inc. on the enforcement of a $1.17 billion arbitration award to the Japanese telco.
Engie seeks to sell entire stake in Petronet LNG
France’s Engie SA plans to sell its entire 10% holding in India’s biggest importer of liquefied natural gas. GDF International, an Engie unit, has written to the four Indian state-owned companies that together own half of Petronet LNG Ltd to offer shares in proportion to their holding in the company.
Godrej Agrovet kicks off IPO process, hires i-bank
Godrej Agrovet Ltd has hired Kotak Mahindra Capital Co. Ltd and is in the process of hiring two more investment banks to manage an initial public offering (IPO) through which it plans to raise as much as $200 million, reports Mint.
Tata Motors, Volkswagen in pact to explore collaboration
Tata Motors Ltd and Volkswagen AG (VW) have signed an in-principle agreement to explore the possibility of working together to develop a new range of products to be shared by Tata, VW and the German automaker’s unit Skoda Auto AS.
D-Mart IPO oversubscribed 5.71 times on Day 2
The initial public offering (IPO) of Avenue Supermarts, the operator of retail chain D-Mart, to raise Rs1,870 crore was oversubscribed 5.71 times on the second day of the offer. Read more