BackOpening Bell | Asia tracks US gains, R-Infra in focus
Apollo Hospitals to raise Rs1,000 crore for expansion; R-Infra plans to exit cement business
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Asian shares track US gains
Asian markets opened in green, tracking the gains in the US markets, which closed higher as shares of biotechnology companies rebounded. S&P 500 at 1,995 is up 0.8%. Chinese markets will open today after a long break.
IMF warns of risk from external shocks
The International Monetary Fund (IMF) warned that emerging market economies are more vulnerable to external sector shocks compared with developed ones, as over-leveraged firms and rising bad debts in the banking system put these economies at risk.
Tata Steel to gradually raise output at Kalinganagar plant
Tata Steel Ltd, which will commission a three million ton steel plant in Kalinganagar by December, plans to scale up its operations gradually, reports Business Standard.
Reliance Infrastructure plans to exit cement business
Reliance Infrastructure Ltd has decided to exit the cement business by putting Reliance Cements up for sale, reports The Economic Times. According to The Times of India cement companies and private equity firms are in the fray to acquire Reliance Cement.
Glenmark loses case on anti-diabetes drug
The Delhi high court has barred Glenmark Pharmaceuticals Ltd from selling, distributing, marketing or exporting its anti-diabetes drugs Zita and Zita-Met, on the ground that they infringed the patent.
Apollo Hospitals to raise ₹ 1,000 crore for expansion
Apollo Hospitals Group plans to raise up to ₹ 1,000 crore through a rights issue and private equity investment to expand its hospital network and specialty clinics, reports Business Standard.
IL&FS Transportation rights issue to open on 15 October
The ₹ 740 crore rights issue of IL&FS Transportation Networks will open on 15 October and the proceeds will be utilised mainly for repaying loans, reports PTI.
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