Opening bell | Asian markets open higher; Airtel, Idea Cellular, Quess Corp in news

In other news, Jet Airways (India) Ltd will focus on profitable growth and not chase market share


Photo: Hemant Mishra/Mint
Photo: Hemant Mishra/Mint

Asian stocks track US market gains

Asian markets edged higher in the morning trade tracking the upbeat US economic data. Overnight US markets closed higher. S&P 500 at 2,204 is up 0.13%.

Solar tariffs at a new low

Amplus Energy Solutions Pvt. Ltd has won a bid to install 14.5 megawatts of solar rooftop plants across 10 states, offering power from these plants at tariffs starting at Rs3 per unit, the lowest ever in the country, reports Mint.

Airtel in talks for Bharti Infratel stake sale

Brookfield Asset Management Inc. has submitted the highest bid for a 51% stake in telecom tower service provider Bharti Infratel Ltd and started exclusive talks with the company’s promoters Bharti Airtel, reports Mint.

Malaysian firm looking to sell its stake in Idea Cellular

Axiata is looking to sell its 20% stake in Idea Cellular Ltd as the Malaysian company believes the Indian telecom provider’s valuation will remain subdued for at least three years, reports The Economic Times.

Tata Steel may lose a high margin business with sale in UK business

Tata Steel Ltd’s potential sale of UK speciality steels business may translate into paring losses but it would also mean divesting a high-value business, reports Business Standard.

Jet Airways to focus on network expansion

Jet Airways (India) Ltd will focus on profitable growth and not chase market share, reports Mint. The airline plans to strengthen its network and increase frequency on existing routes.

Tata Power Q2 profit beats estimates

Tata Power Co. Ltd on Tuesday reported higher-than-expected fiscal second-quarter profit, swinging from a year-earlier loss. Read more.

Quess buys facility management business

Quess Corp Ltd is acquiring the facility management and catering businesses of Manipal Integrated Services. The purchase will help strengthen its market position in integrated facility management, the company said.

Hotel chains struggle to raise average room rates

Despite improvement in hotel occupancy for the last three consecutive years, hoteliers are faced with a tough challenge to increase the average room rates, reports Mint.

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