BackOpening bell: Asian markets fall; HDFC Bank, Adani Gas, Air India in news
HDFC Bank seeks to raise $2.5 billion via share sale, while Adani Gas plans direct listing of shares
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US stocks end higher; Asia edges lower
US stocks closed well off session lows on Friday, helped by a sharp rise in health care shares.
Asian markets edged lower and the euro slipped early on Monday. Meanwhile, Wall Street finished mostly higher in the last session as markets continued to focus on recently announced metals tariffs.
Lenders told to take criminal action against private power projects
The government is nudging bankers to take criminal action against private power producers that have inflated project costs, reports Mint.
HDFC Bank seeks to raise $2.5 billion via share sale
Private sector lender HDFC Bank Ltd is looking to launch its equity share sale of up to $2.5 billion (around Rs15,000 crore) in a fortnight, while HDFC Asset Management Co. Ltd (HDFC AMC) will be filing its draft initial public offer (IPO) papers
Adani Gas plans direct listing of shares
Adani Gas Ltd, the gas distribution business of Adani Group, is planning to go for a direct listing of shares instead of an initial public offering.
Tata Motors is now less vulnerable to unpleasant shocks: Guenter Butschek
Guenter Butschek, the 57-year-old managing director of Tata Motors Ltd, has steered the company’s India operations to a profit for the first time in five quarters. But the bigger task that Butschek claims he has achieved is making the company less vulnerable to unpleasant shocks. Read more
Air India looks to raise Rs500 crore through sale of land assets in FY19
Divestment-bound national carrier Air India is looking at raising Rs500 crore by selling land and real estate in 2018-19, and is likely to sell some of its prime properties across the country.
Sterlite Power to invest $10 billion in transmission lines in 4 years
Sterlite Power, which last bought out its overseas PE investor from the transmission arm, looks to invest about $10 billion over the next three-four years to expand business in both domestic and overseas markets.
Marico to fall short of 2020 revenue target
Marico Ltd will miss its target of achieving Rs10,000 crore in sales by 2020 due to slow volume growth, costlier raw materials and the roll-out of the goods and services tax.
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